LOTTE Engineering & Construction Wins Dogok Woosung Redevelopment Project, Surpassing KRW 4 Trillion in Urban Redevelopment Orders

[Financial News] LOTTE Engineering & Construction has won the Dogok Woosung Apartment redevelopment project in Seoul’s Gangnam-gu, pushing its cumulative urban redevelopment orders this year past KRW 4 trillion.
According to LOTTE Engineering & Construction on the 6th, the company was selected as the contractor at a general meeting of members of the Dogok Woosung Apartment redevelopment association held on the 5th.
The project involves rebuilding Dogok Woosung Apartment into a complex comprising apartments and ancillary welfare facilities across six underground levels and 26 floors above ground, with four buildings. The construction cost is KRW 400.2 billion. With this contract, LOTTE Engineering & Construction’s urban redevelopment orders this year have increased to six projects worth a total of KRW 4.011 trillion.
LOTTE Engineering & Construction proposed ‘Dogok LE-EL’ as the name of the complex. The exterior design will be developed in collaboration with global architectural firm JERDE and will feature a world-class design.
The complex will also incorporate distinctive specialized designs throughout the site. Various community facilities, including a sky lounge offering panoramic views of Lotte World Tower, Daemosan and downtown Gangnam, will be built. Landscaping facilities such as an approximately 3-kilometer walking trail connecting Ssari Gogae Park to the complex, a lawn plaza and gardens will also be provided.
Eonju Elementary School and Eunseong Middle School are located near the complex, along with Dogok Park, Maljukgeori Park and Yangjaecheon Stream. Medical and administrative facilities, including Gangnam Severance Hospital and Seocho-gu Office, are also nearby. Residents will have access to the Gyeongbu Expressway and Yangjae Station on Subway Line 3 and the Shinbundang Line. The GTX-C line is also scheduled to open in the future.
A LOTTE Engineering & Construction official said, "Based on the construction capabilities and project experience we have accumulated, we plan to transform Dogok Woosung Apartment into a landmark residential complex representing Gangnam-gu. We will also continue to focus our capabilities on major redevelopment projects in the Gangnam area, as well as key reconstruction sites in Mok-dong."
This year, LOTTE Engineering & Construction has secured construction rights for the following projects, including Dogok Woosung: the reconstruction of Garak Geukdong Apartment in Songpa-gu (KRW 484 billion); the redevelopment of Geumho District 21 in Seongdong-gu (KRW 624.2 billion); the reconstruction of Yongho District 3 in Changwon (KRW 396.7 billion); the redevelopment of Seongsu Strategic Redevelopment Zone, District 4, in Seongdong-gu (KRW 1.3492 trillion); and the public redevelopment of the Chunghunbu area in Anyang (KRW 756.7 billion).
The company plans to actively participate in public redevelopment projects going forward, including the urban public housing complex project near Yaksu Station and the public redevelopment project for housing improvement in Myeonmok District 9.

[email protected] Choi A-young Reporter