Brief: Standard Chartered Private Equity announces real estate investment in Seoul

GS Retail

28/03/2017 07:45

March 28 (Reuters) - Standard Chartered PLC  STAN.L  
    * Principal Finance Real Estate has led a real estate 
investment, together with GS Retail to acquire a 5,853 sqm site 
located in Insadong, Seoul 
    * $43.5 mln site is being acquired from Samsung Fire & 
Marine, who will continue to participate in the project as a 
finance provider 
    * site is slated for development into a mixed-use, 
integrated retail and hotel complex 
    * construction of the project is scheduled to commence in 
May 2017 
    * GS Retail is serving as the project's development manager 
and will continue to manage the retail component of the project 
upon completion 
 
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