GIC to pick preferred bidder to sell $1.1 bn Seoul landmark building

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Singapore’s GIC Private Ltd., the world’s sixth-largest sovereign wealth fund, is set to select a preferred bidder to sell a landmark building valued at about 1.5 trillion won($1.1 billion) in Seoul.GIC and CBRE Group Inc., the manager of the sale of Seoul Finance Center (SFC), opened bidding for the commercial building in the South Korean capital’s central business district on Monday, according to investment banking industry sources.

TO SELL LANDMARK BUILDING BOUGHT AFTER 1997-98 ASIAN CRISISBGO has invested in South Korean real estate such as office buildings in Seoul and Pangyo, the country’s so-called Silicon Valley.

Global real estate investment companies including BentallGreenOak (BGA), as well as local asset managers such as Koramco REITs Management and Trust Co.and its subsidiary Koramco Asset Management Co.joined the bidding, the sources in Seoul said.

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Article Details

Category: Economy

Markets: South KoreaSingapore

Topics: Asset Center Building Pick Korean Koramco Seoul Sell Preferred Bidder South

Source Website Secure: Yes (HTTPS)

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Article Type: News Report

Published On: 2024-12-03 @ 13:32:07 (1 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

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