DL E&C opens promotional center for Seongnam's Sangdaewon 2 redevelopment, proposes 'Gratus' as complex name

Up to 29 above-ground floors, 43 buildings, 4,885 units total

58 community facilities including all-day dining service

Promotional center runs on reservations-only through Oct. 30

A rendering of the Gratus complex planned for the Sangdaewon 2 redevelopment zone. [DL E&C]

DL E&C opened a promotional center for members of the Sangdaewon 2 zone association on Saturday, the company announced Thursday. The Sangdaewon 2 project is widely regarded as the most coveted redevelopment opportunity in Seongnam, Gyeonggi Province.

DL E&C has proposed "Gratus" as the name for the new complex and will operate the promotional center on a reservations-only basis through Oct. 30.

The Sangdaewon 2 redevelopment project calls for a massive complex of 43 buildings rising up to 29 above-ground floors and totaling 4,885 units in the Sangdaewon-dong area of Seongnam's Jungwon-gu. DL E&C signed a construction contract for the project in 2021, but disputes over replacing the contractor caused setbacks from early this year. In July, a court ruled in DL E&C's favor, confirming its status as contractor. Both sides are now in talks to finalize a revised construction contract and secure the necessary permits for a swift ground-breaking.

The proposed complex features a rooftop design intended to define a new skyline, curtain-wall and metal-panel cladding for a distinctive facade, and a grand entrance gate. The development will also include 67 specialty gardens, five water features and a 5.9-kilometer walking trail, set within a green area of 66,660 square meters — roughly the size of 10 soccer fields.

The complex will also offer 58 community facilities — the largest such offering in Seongnam — along with six sky-level amenities including a sky pool, guest house, sky lounge and sky private spa. Two all-day dining facilities serving breakfast, lunch and dinner are also planned.

On the financial side, DL E&C proposed that association members pay their full share of construction costs one year after move-in. The company put forward 20 project conditions it described as innovative, including a fixed construction cost of 6.99 million won ($5,210) per 3.3 square meters, full acceptance of the pre-sale price set for general buyers, a guarantee of a swift ground-breaking, full acceptance of the association's proposed construction contract terms, and a five-year subscription care service for premium home appliances.

"We understand the desire of all association members to move the project forward quickly, and we believe we have created a new turning point," a DL E&C official said. "We will continue to do our utmost, in close partnership with the association, to transform the Sangdaewon 2 zone into a landmark complex that defines Seongnam."

Meanwhile, DL E&C Vice Chairman and CEO Park Sang-shin visited the project briefing venue in Seongnam on Sept. 28 to meet with association members in person. The company said it intends to maximize returns for association members and normalize the project by moving quickly toward ground-breaking and pre-sales, building on its confirmed status as contractor.

hope@heraldcorp.com