Keppel REIT to Sell Seoul-Based Prime Office Tower T-Tower

Quick Summary:

Although the financial conditions are tightened due to high interest rates, the Korean real estate market is warming up as major office deals such as Blackstone’s sale of Arc Place are closed, said Jung Jung-woo, senior director, capital markets of JLL Korea.

Investors have a selective approach to core assets in the capital, and based on strong fundamentals of the real estate market in Seoul, rent growth potential as well as the composition and creditworthiness of tenants are key factors for buyers’ decisions, Jung added.

The surrounding areas of Seoul Station is expected to see major transportation infrastructure improvements, including mixed-use development projects and the launch of high-speed rail network GTX-A, which will start connecting the new town of Unjeong, Gyeonggi Province and Seoul Station by the end of this year, said JLL.

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Article Details

Category: Economy

Markets: South KoreaSingapore

Topics: Sale Office Seoul Managers Korea Estate Reit Real Keppel Prime Station

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-16 @ 17:54:24 (4 weeks ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 275 words

Reading Time: 2 minutes read

Sentences: 14 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 20701690

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