Asia Property to buy WeWork building in Seoul

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The story "Asia Property to buy WeWork building in Seoul" was covered 18 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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Asia Property to buy WeWork building in Seoul - Korea Economic Daily

Quick Summary:

Seoul-based real estate investment firm Asia Property has been picked as the sole preferred bidder for an office building, currently occupied by coworking space provider WeWork, in the bustling Gangnam office district after beating four other contenders.

According to sources in the investment banking industry on Thursday, a consortium joined by Savills Korea, NAI Korea and Shinyoung Asset Management has chosen Asia Property as the exclusive bidder for the office tower, located in one of Seoul's most sought-after business districts.

But the Gangnam-based WeWork building remains a coveted asset thanks to its prime location on Teheran-ro, adjacent to the construction site of Hyundai Motor Group’s new headquarters, known as the Hyundai Global Business Complex (GBC).