not yet U/C
But Official public presentation for this project resume at 9 january.
at that time many major construction company of korea participated on that presentation.(200 people) http://www.ajunews.com/view/20150109095815623
Incheon will be notification public bid and construction begin.
bytheway it is uncertain but they try to built taller than 555m
Incheon Free Economic Zone Authority Announcement No. 2015-35
Invitation Announcement to Candidates for Construction and Maintenance/Operation of City Tower and Complex Facility in Cheongna International City, Incheon Free Economic Zone Project
The Incheon Free Economic Zone Authority is searching for investor candidates to join in the Construction and Maintenance/Operation of City Tower and Complex Facility in Cheongna International City, Incheon Free Economic Zone Project.
February 5, 2015
Commissioner of the Incheon Free Economic Zone Authority
1. Project Summary
Project Title: Construction and Maintenance/Operation of City Tower and Complex Facility in Cheongna International City Project
Location: Center of the Cheongna Lake Park of Cheongna International City
Use District: General Commercial District
2. Method and Area of the Project
Category Scale Method of Business
City Tower 453m Method of Lease
City Tower Site 13,000 m2 (approx. 4,000 pyeong) Method of Lease
Complex Facility Site 20,058 m2 (approx. 6,000 pyeong) Method of Lease or Sale
3. Guideline for Lease Cost and Supply Price for each Method of Business
Category 1 Subject Amount
Method of Lease o City Tower 1,095,174,340/yr
o City Tower Site 225,550,000/yr
o Complex Facility Site 348,006,300/yr
Category 2 Subject Amount
Method of Lease and Sale
Lease o City Tower 1,095,174,340/yr
o City Tower Site 225,550,000/yr
Sale o Complex Facility Site 41,720,640,000
1) The price proposed under the above guideline for lease cost and supply price (including purchase price of the Complex Facility Site) are the minimum proposal price and any Applicants proposing any price above such guideline shall receive additional point at the evaluation of Project Plan Proposal.
2) If the Investor purchases the Complex Facility Site, it shall receive additional point at the evaluation of Project Plan Proposal.
3) The lease cost shall be calculated in line with a separate official land value of every year and the detailed formula is as follows:
※ Lease Cost = (Lease cost proposed by the Investor/Lease cost under this Request for Proposal) x Lease cost which reflects the official land value of pertinent year
4) After the completion of construction of City Tower, the lease cost shall be calculated based on the property price of City Tower, which shall be calculated by applying the statutory standard prices under Paragraph 2, Article 4 of the Local Tax Act and Article 31 (Evaluation of Lease Cost Rate and the Lease Asset) of the Enforcement Decree of the Public Property and Commodity Management Act; provided, however, if the statutory standard prices are not available, the appraisal value of the appraisal corporation under the Public Notice of Values and Appraisal of Real Estate Act shall be applied.
5) The Complex Facility Site shall comply with the disposal plan under the execution plan of Cheongna International City.
4. Eligibility and Method of Application
An Applicant shall be a consortium that is qualified to carry out the Project and such consortium shall include a Foreign Investment Company or a Foreigner and be composed of less than five (5) members.
Applicants must apply in the name of the representative company of such consortium, who is designated and entrusted by the consortium members.
5. Method of Selecting Candidates
Project Plan Proposal shall be evaluated by composing the Selection Committee
The evaluation shall be categorized into the evaluation of the Project Plan Proposal (400 points) and the evaluation of lease cost (100 points). The evaluation of the Project Plan Proposal shall be categorized into the City Tower, Complex Facility and Foreign Investment Company.
The detailed criteria for evaluation and point distribution may be found under “the Request for Proposal for Investors of City Tower and Complex Facility” uploaded on the Incheon Free Economic Zone Authority’s website (http://www.ifez.go.kr)
6. Documents required to be submitted with the Project Plan Proposal
Refer to “the Request for Proposal for Investors of City Tower and Complex Facility” uploaded on the Incheon Free Economic Zone Authority’s website (http://www.ifez.go.kr)
Submission of and Reply to Inquiries
- Submission period for inquiries: February 5, 2015 (Thursday) 9:00 ~ February 25, 2015 (Wednesday) 18:00
- Reply date for inquiries: March 10, 2015 (Tuesday) (written notice)
Submission of Documents for Application
- Date and Time: May 29, 2015 (Friday) 10:00 ~ June 4, 2015 (Thursday) 17:00
- Location: Infrastructure Service Industry Division, Incheon Free Economic Zone Authority
- Applications must be submitted in person
Evaluation: June 5, 2015 (Friday) ~ July 3, 2015 (Friday)
Selection of Candidates shall be announced on July 10, 2015 (Friday)
* Schedule may change due to change of conditions.
8. Further Information
For details of invitation and preparation of the Project Plan Proposal, please refer to “the Request for Proposal for Investors of City Tower and Complex Facility” uploaded on the Incheon Free Economic Zone Authority’s website
Further Information: Infrastructure Service Industry Division, Incheon Free Economic Zone Authority (Tel: 032-453-7031, 7321~7325)
Information on City Tower Design: 2F Cheongna-Yeongjong Project Division Facilities Department, Korea Land & Housing Corporation (Tel: 032-540-1751, 1752)
today official notification for public bid city tower construction by Incheon economy free district.
official confirm as 453m
30km distance away from Seoul city hall
-major construction company give up participated on this project due to construction cost estimated too low to built.
-inchen government modifying public offering to built not only landmark tower but also around commercial shopping center. but around population only 90000 people.
So this commercial center have no economical feasibility.
-So this project skeptical
which company preferred low cost project expect than real rational cost.
for example think about, government try to built "some bridge over river".
not exactly estimate but everybody guess estimate it take at least $1000 USD base on others precedent bridge.
but suddenly government official estimate bridge construction cost as $ 500 USD.
and base on this cost government select construction company among them who suggest much lower cost.
No body want to participated on this competition.
according to the report that is what this Incheon city tower story so far
Although this project has been on hold for the last couple of months, it has just been announced that construction group LH has been awarded the development of the land to build the tower (as well as the surrounding complex).
Construction of the tower itself is scheduled to take 4 years. The project has now been revived, but it remains to be seen when (if?) the construction actually starts.
A forum community dedicated to skyscrapers, towers, highrises, construction, and city planning enthusiasts. Come join the discussion about structures, styles, reviews, scale, transportation, skylines, architecture, and more!