Samsung C&T Engineering & Construction Group
658 Residential Officetel Units
The former KT Tower site in Mokdong, Seoul, is set to be transformed into a residential complex. Samsung C&T Engineering & Construction Group (hereinafter Samsung C&T) recently announced that it has signed a contract worth approximately 700 billion won for the construction of the Mokdong residential complex with ICONIC, the developer of the project. The project first began in 2019 when ICONIC, the developer, signed a business agreement for the real estate development through a financial investor (FI). The project involves developing three residential officetel buildings comprising 658 units, ranging from 6 basement floors to 48 above-ground floors, along with neighborhood living facilities such as a fitness center, on a 16,416㎡ site in the vicinity of 924 Mokdong, Yangcheon-gu, Seoul. The site enjoys a highly convenient double-station location between Mokdong Station and Omokgyo Station on Subway Line 5, and boasts an excellent educational environment with Seojeong Elementary School, Mokun Elementary School, and Mokun Middle School all within walking distance.
Samsung C&T has prepared a variety of differentiated proposals for the Mokdong residential complex that reflect buyers' demands. First, the complex will consist exclusively of mid- to large-sized units with an exclusive area of 113㎡ or more, and will offer a range of specialized floor plans, including the highly preferred flat-plate layout as well as terrace-type and penthouse-type units. In addition, all units will be arranged mainly facing south to secure sunlight and views, and the two-sided and three-sided open floor plan design will maximize usable living space. Beyond the diverse specialized floor plans, the company plans to apply the Raemian brand and later incorporate Next Home technology into the design, creating a premium residential complex.
Meanwhile, Samsung C&T has secured construction rights worth approximately 3.6 trillion won in urban redevelopment projects this year, and including this development project win, it has secured a total of approximately 4.3 trillion won worth of housing projects, continuing its aggressive order-winning activities.
▲ Rendering of the Mokdong residential complex project