GIC taps its real estate expert Jasmine Loo as new Korea head

Quick Summary:

The sovereign wealth fund invested 43.1 billion won in Seoul-based Mastern Investment Management’s fund for the building in 2020 and recovered 18 billion won when Mastern sold the property to Shinhan Asset Management Co.in May this year amid Korea's real estate project finance liquidity crisis.

The fund has been a major investor in Korean real estate since the Singaporean state-run fund acquired the 30-story Seoul Finance Center in the Central Business District for 355 billion won ($257.4 million) in 2000.

GIC, which owns Korean landmark office buildings Gangnam Finance Center and Seoul Finance Center, may resume new investments in the country’s real estate with the new leadership, according to banking industry sources.

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Category: Economy

Markets: South KoreaChinaSingapore

Topics: Office Estate Real Management Korea Center Fund Finance Billion Seoul Korean

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-11 @ 13:32:50 (6 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 404 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 18 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 21618565

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