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Ascendas buys fifth office asset in Seoul, sets up new fund

Jongro Place, a 14-storey Grade A office building in CBD, was recently acquired by the new fund for S$289.6m

Jongro Place, completed five years ago, has large floor plates and a 2.7-metre ceiling height, with 202 car park lots. The property has a total net lettable area of 23,000 square metres, and enjoys a 97 per net occupancy rate


ASCENDAS' fully owned subsidiary Ascendas Asset Management Co Ltd has launched its fifth office fund in South Korea.

Ascendas Korea Office Private Real Estate Investment Trust 3 (Akopreit 3) is a seven-year closed private fund which holds Jongro Place, a 14-storey...

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