Studio Daniel Libeskind has won the master-plan competition for a large-scale business district in Seoul. The plan will transform a 138-acre former railyard into a business, residential and cultural hub set amid a riverfront park. Libeskind’s design focuses on a 150-story building surrounded by 30 buildings, ranging from 20 to 70 stories. The $20-billion, 3.1-million-sq-m Yongsan District project in central Seoul is expected to break ground in 2011.
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.