Keppel Capital unit in lead position to buy Seoul buildings
Firm and Seoul-based IGIS Asset Management were the only two to submit bids to buy the three office towers
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Nisha Ramchandani
Singapore
A SOUTH Korean unit of Keppel Capital has emerged as the frontrunner to acquire three office buildings in Seoul in a deal totalling 450 billion Korean won (S$0.54 billion), as South Korea's real estate sector continues to attract interest from investors.
According to a report in The Korea Economic Daily, Keppel Capital and Seoul-based IGIS Asset Management Co were the only two among "seven to eight" potential buyers that submitted bids to owner Samsung SRA Asset Management Co to buy all three buildings: Yeouido Finance Tower, Nonhyeon Building in Gangnam and Hannuri Building in Jongno. Samsung reportedly paid 295.5 billion won in 2009 to acquire the three properties.
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