Business · Companies · 17 hrs ago
Daewoo Construction Is Likely to Secure Seoul’s Shinwol Siyeong Redevelopment
Daewoo Construction is likely to take on the Shinwol Siyeong redevelopment in Seoul’s Yangcheon District, a project with construction costs of about 1.2 trillion won.
The company is effectively the only bidder, making a contract negotiated without a competitive bid more likely.
The redevelopment is expected to move ahead faster, prompting inquiries from people looking to buy homes, including newlyweds.
Some apartment types have risen in price by more than 100 million won in roughly six months.
The project is drawing interest from buyers seeking homes in Yangcheon, where the headline says a new apartment may be available for 700 million won.
The next step may be a negotiated contract, though the information available does not say that one has been finalized.
Daewoo Engineering & Construction is effectively the sole bidder for the redevelopment of Seoul’s Sinwol Siyeong apartment complex, making a negotiated contract more likely.
The project’s construction cost is estimated at more than 1.2 trillion won.
Expectations that the redevelopment will move forward have drawn purchase inquiries from end-users, including newlyweds.
Prices for some apartment types have risen by more than 100 million won in just over half a year.
- Who
- Daewoo Engineering & Construction is the effective sole bidder for the project.
- What
- The company is likely to secure the redevelopment contract for the Sinwol Siyeong apartment complex.
- When
- The report was published on November 9, 2026.
- Where
- Sinwol Siyeong apartment complex, Yangcheon-gu, Seoul, South Korea.
- Why
- Daewoo is effectively the sole bidder, increasing the likelihood that the project will move to a negotiated contract.
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- Estimated construction cost
- More than 1.2 trillion won
- Project location
- Yangcheon-gu, Seoul
- Effective bidder
- Daewoo Engineering & Construction
- Reported date
- November 9, 2026
- Recent price increases
- More than 100 million won for some apartment types in just over half a year