Korea’s IGIS Asset put hotel in top Seoul tourist area on sale

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Korea’s IGIS Asset put hotel in top Seoul tourist area on sale - Korea Economic Daily

Quick Summary:

IGIS Asset Management Co., one of Asia's largest real estate investment firms, is set to sell a four-star hotel in Myeong-dong, a popular spot for foreign tourists in Seoul, amid the rising interest in South Korea’s accommodation sector among investors thanks to the stable growth in the local tourism.

HOTEL IN SOUTH KOREA’S SUPER-PRIME REAL ESTATEInvestors at home and abroad are reportedly interested in the property as it is a relatively new four-star hotel in Myeong-dong, super-prime real estate in the country, industry sources said.

IGIS on Thursday sent requests for proposals (RFPs) to property advisors to sell Four Points by Sheraton Josun, Seoul Myeongdong, according to investment banking industry sources.