Samsung C&T has secured the construction rights for the Apgujeong District 4 redevelopment project, long regarded as a prime site in Seoul's Gangnam redevelopment market.
According to the redevelopment industry on the 23rd, the Apgujeong District 4 reconstruction association held an extraordinary general meeting at the Apgujeong High School gymnasium that afternoon and approved the selection of Samsung C&T as the contractor. Of 1,337 association members, 716 cast votes, with 626 (87.4%) voting in favor.
Apgujeong District 4 is an integrated redevelopment project covering the Hyundai 8th and Hanyang 3rd, 4th and 6th apartments around 487 Apgujeong-dong, Gangnam-gu. The complex will feature eight buildings with five basement levels and up to 67 floors above ground, comprising a total of 1,664 units along with auxiliary and welfare facilities. The estimated construction cost is 2.1154 trillion won, or about 12.45 million won per 3.3 square meters. The complex name will be finalized at a later general meeting.
Vision for an 'Artwork-Like Landmark'
Samsung C&T plans to develop the complex into a global-caliber landmark in collaboration with U.K.-based Foster + Partners, led by world-renowned architect Norman Foster. Foster + Partners is a Pritzker Prize-winning firm whose works include the Great Court at the British Museum and 270 Park Avenue in the United States. Landscaping will be handled by Peter Walker Partners (PWP), the firm behind the U.S. 9/11 Memorial Park and the landscaping at Singapore's Changi Airport.
The core concept is "maximizing Han River views." Samsung C&T arranged the residential buildings using CYCLOPS, a view-analysis solution developed by Foster + Partners, to ensure that all 1,341 units enjoy uninterrupted Han River views. High pilotis up to 15 meters tall were applied to allow river views even from lower floors, and living room columns were extended outward to expand interior space. Through the frameless wide windows known as "Round Corner IMAX Windows," the project plans to deliver an average 20.5-meter, 270-degree panoramic Han River view per unit.
The net usable floor area ratio is 73.31%, and an average of 21.83 pyeong of service area per unit is provided, including a 4.15-pyeong terrace.
The building exteriors feature cantilever structures protruding up to 4.5 meters and terraces that vary every three floors, creating depth in the facade. Community facilities measure 5.6 pyeong per unit — the largest among domestic redevelopment complexes — and include 105 programs such as a fitness center, private golf and indoor and outdoor pools.
To finance the project, Samsung C&T has built a partnership with 18 financial institutions in total, including seven commercial banks such as Shinhan Bank and KB Kookmin Bank and 11 securities firms.
Located along the Han River at the southern end of Seongsu Bridge, Apgujeong District 4 is a prime Apgujeong site with access to both Apgujeong Rodeo Station on the Suin-Bundang Line and Apgujeong Station on Subway Line 3. With abundant lifestyle infrastructure including Galleria Department Store and a top-tier school district covering Apgujeong Elementary, Apgujeong Middle and Hyundai High School, the area has long been classified as a "top-tier location" among Gangnam redevelopment projects.
