Hanwha REIT to buy Hanwha Group's office for $584 mn

Quick Summary:

With an increase in the assets, the real estate investment firm eyes more stable payouts of its dividends, credit rating improvement and inclusion in the FTSE EPRA Nareit Global REITs Index, a free-float adjusted, market cap-weighted index to track the performance of listed real estate firms, with an aim to attract more funds from global investors.

Hanwha REIT Co., a real estate investment arm of South Korea’s No.7 conglomerate Hanwha Group, said on Monday that it is poised to acquire the group’s headquarters office for 808 billion won ($584.2 million) from Hanwha Life Insurance Co.

The sale price per square meter is similar to transactions of prime offices in the same business district over the past four years, which were traded in the range of 10.3 million won to 12.1 million won per square meter, Hanwha REIT said.

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Article Details

Category: Economy

Markets: South Korea

Topics: Reit Hanwha Office Billion Square Estate Business District Real Investment Global

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-29 @ 18:01:29 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 246 words

Reading Time: 2 minutes read

Sentences: 13 lines

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Copyright Owner: © Korea Economic Daily

News ID: 21821587

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