Koramco seeks to sell Seoul prime office tower in $272 million deal

Quick Summary:

South Korea’s Koramco REITs Management & Trust Co.is poised sell a prime office building in Seoul in an estimated 400 billion won ($272 million) deal, investment banking industry sources said on Monday.

Koramco is in talks with real estate sale advisors to unload Centre Point Gwanghwamun, a 22-story office building in the South Korean capital’s central business district, the sources said.

The building, with a total floor area of 39,946 square meters, was valued at about 400 billion won in view of the transaction prices of similar properties in the area at 33 million won to 35 million won per 3.3 square meters, real estate industry sources said.

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Article Details

Category: Economy

Markets: South KoreaSingapore

Topics: Sources Korea Sale Billion Koramco Seoul Management Investment Building Office Industry

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-13 @ 16:55:57 (3 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 291 words

Reading Time: 2 minutes read

Sentences: 18 lines

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Copyright Owner: © Korea Economic Daily

News ID: 25190717

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