Selected as Preferred Bidder for Banpo Prugio Remodeling
Reborn as a Newly Built Raemian Through Complex-Tailored Next Remodeling
Samsung C&T's Engineering & Construction Group (hereinafter Samsung C&T) is announcing the full-fledged market launch of its 'Next Remodeling' business, which it proposed last year as a new urban regeneration solution.
Noting that apartments completed after 2000 are difficult to reconstruct and that their residential value declines, Samsung C&T proposed 'Next Remodeling,' a new urban regeneration solution, in August last year and signed partnerships with 12 apartment complexes in Seoul, Busan, Gwangju, and elsewhere. Among them, the Banpo Prugio apartment complex has emerged as the likely project site where Next Remodeling will make its debut.
The Banpo Prugio apartment complex, completed in 2000, comprises 3 buildings and 237 households and is located in a prime location right by Sinbanpo Station in Seocho-gu, Seoul. The apartment's remodeling housing association held a delegates' meeting on the 27th and selected Samsung C&T as its preferred bidder.
Next Remodeling is an approach that leaves the existing underground and above-ground structural frame in place while changing the interior and exterior finishes of the units and common areas and upgrading facilities such as building systems, thereby securing performance and value that surpass those of a newly built apartment. In addition, a smart home environment—including Samsung C&T's residential platform 'Homeniq'—and Next Home technology are applied. Compared with reconstruction, redevelopment, and extension-type remodeling, this approach has the advantages of a shorter project period, including permitting and construction time, and higher project stability. Moreover, by applying tailored products, it makes it possible to realize premium housing that exceeds even reconstruction as members desire, and above all, the greatest differentiator from repair work led by a residents' representative meeting is that, upon project completion, the complex is reborn as a newly built Raemian complex with a newly changed completion date. In February, Samsung C&T held a project briefing session for the Banpo Prugio apartment remodeling association members, elaborating on its Next Remodeling proposal. At the session, which more than 80% of the association members attended, the company presented tailored product concepts—including a differentiated exterior design that reinforces the complex's locational symbolism and leverages the advantages of a small complex, the creation of a private community exclusively for residents, and the application of advanced systems on par with or beyond those of a newly built apartment—drawing a strong response.
Going forward, Samsung C&T plans to propose products that maximize the complex's potential value by targeting members' needs, such as floor plan designs that enhance spatial utilization, high-end detailed interiors, advanced security systems, and improved parking environments utilizing future technologies.
Kim Sang-guk, Head of the Housing Development Division (Executive Vice President) at Samsung C&T, said, "Through our participation in this project, we have confirmed the market's interest in Next Remodeling and its potential for commercialization," adding, "We will strive to ensure that Next Remodeling expands the options for regenerating aging urban housing and contributes as one pillar of new housing supply."
▲ A view of the Banpo Prugio apartment complex