[Edaily Reporter Ham Ji-Hyun ] DL E&C CO., LTD.(375500)announced on the 29th that it has been selected as the preferred bidder for the housing-focused redevelopment project in Zone 2 of the Seongsu Strategic Redevelopment Area.

The Seongsu District 2 redevelopment project involves the construction of 2,381 residential units, including apartment complexes and supporting amenities, on a 131,980-square-meter site in Seongsu 2-ga 1-dong, Seongdong-gu. The residential area is planned to range from 6 stories below ground to 65 stories above ground, while the mixed-use area is planned to range from 5 stories below ground to 44 stories above ground. The estimated construction cost is approximately 2.0137 trillion won.

In the previous bid for the construction contractor, only DL E&C CO., LTD. submitted a bid, failing to meet the requirements for a competitive bidding process. If fewer than two companies participate in a construction contractor selection bid, the bid is automatically declared void; if this occurs a second time, the project proceeds via a negotiated contract.

DL E&C CO., LTD. explained, “This selection of the preferred bidder is a transition to a negotiated contract procedure following two or more failed bids, in accordance with the Enforcement Decree of the Urban and Residential Environment Improvement Act,” adding, “Being designated as the preferred bidder does not mean that we have secured the status of the construction contractor.”

The company further added, “We plan to proceed with the contractor selection process at an upcoming general meeting of association members,” and noted, “We will re-announce the finalized details upon the selection of the contractor and the signing of the main contract.”