A consortium of Namkwang Engineering & Construction and Kukdong Engineering & Construction has been selected as the preferred bidder for the redevelopment of the Dong-A Apartment complex in Yonghyeon-dong, Michuhol-gu, Incheon.
The Dong-A Apartment redevelopment association recently designated the Namkwang-Kukdong consortium as the preferred bidder after a competitive bidding round fell through, and began private contract negotiations, according to industry sources Monday.
A project briefing session held earlier for the Dong-A Apartment redevelopment drew strong interest, with a total of eight companies participating. However, the competitive bidding failed after only the Namkwang-Kukdong consortium took part. The association subsequently switched to a private contract method and began negotiations with the consortium.
The Dong-A Apartment redevelopment is set to supply apartment housing comprising six buildings rising up to 39 stories, with a total of 994 units. The project has drawn high interest from the redevelopment industry, as it is rare for a street housing improvement project to reach a scale close to 1,000 units, and because the Korea Land and Housing Corporation (LH) is participating.
"For project sites of large scale, the private contract negotiation process often determines the pace of the project," a redevelopment industry official said. "If discussions between the association and the preferred bidder proceed smoothly, the contractor selection process and project progress will also move quickly."
