 |
(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] On the 28th, Kiwoom Securities announced its sole investment of 610 billion won in the bridge loan for the 'Mokdong Former KT Site Development Project'.
Despite a slowdown in the real estate market leading to numerous projects struggling to transition to full project finance (PF), Kiwoom Securities is drawing industry attention for its substantial investment in real estate PF projects.
The development project involves constructing a residential officetel with 658 units and commercial facilities on the former KT site in Mokdong, Yangcheon-gu. The development will feature a 6-story underground parking structure and 48 above-ground floors.
Although the project is highly anticipated as a rare large-scale development in a key residential area of Seoul, it has been hindered by tight PF financing. With Kiwoom Securities' investment, the existing KT data center will be demolished, and the project is expected to transition to PF by 2025.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
