DL E&C, Preferred Negotiating Bidder for Seongsu District 2, Prepares Financial Support with Five Major Banks

[Financial News] DL E&C, the preferred negotiating bidder for the redevelopment project in District 2 of the Seongsu Strategic Redevelopment Zone, is moving to develop financial services for association members in cooperation with 10 financial institutions. The company plans to address the diverse financial needs of association members by leveraging the expertise and networks of banks and securities firms.
DL E&C announced on the 30th that it signed the "Premium Financial Services Agreement for Seongsu District 2" on the 29th with 10 institutions, including the country's five major commercial banks and five major securities firms.
The participating banks were KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank and NH Nonghyup Bank. The securities firms were KB Securities, NH Investment & Securities, Samsung Securities, Korea Investment & Securities and KIWOOM Securities.
The institutions that signed the agreement will work together to establish customized programs providing financial information and professional services to association members in Seongsu District 2. The specific products and support offerings will be determined through further discussions.
Earlier, on the 23rd, DL E&C was selected as the preferred negotiating bidder for the Seongsu District 2 redevelopment project. The construction cost proposed by the association is 2.0137 trillion won. 
DL E&C plans to incorporate its residential development experience from the nearby Acro Seoul Forest project into its proposal for Seongsu District 2. 
The Seongsu District 2 project is a redevelopment project covering 131,980 square meters in Seongsu 2-ga 1-dong, Seongdong-gu, Seoul, where multifamily housing and ancillary welfare facilities will be developed. The housing area is planned to comprise six basement levels and 65 above-ground floors, while the mixed-use area will comprise five basement levels and 44 above-ground floors.
A DL E&C official said, "We will concentrate all our capabilities on successfully advancing the project by working with the country's top financial institutions to provide association members with differentiated financial services and premium lifestyle value."
[email protected] Choi Ga-young Reporter