Sangji Kyleum to Acquire Office and Retail Facilities at 'Yongsan Central Park Harrington Square'

[Asia Economy Reporter Jang Hyowon] Sangji Kyleum, a specialized luxury villa construction company (CEO Choi Kibo), announced on the 21st that its 100% subsidiary Kyleum D&D and an affiliate company have signed a joint business agreement and successfully won the final bid for real estate for sale at 57 billion KRW.

The two companies signed a joint business agreement to share rights and profits 5:5 for a total of 46 units of the 'Yongsan Central Park Harrington Square office and sales facilities,' jointly participated in the bidding, and were selected as the final successful bidders.

Yongsan Central Park Harrington Square is an area rich in business infrastructure, and the company expects high profits upon realizing sales revenue and capital gains (operating profit) from future sales of pre-sale rights. The Yongsan International Building District 4, where the building is located, is close to Yongsan Station and Sinyongsan Station, allowing access to Subway Lines 1 and 4, KTX, and ITX, and the extension project of the Shinbundang Line connecting Yongsan, Sinsa, and Gangnam is also underway.

Large-scale development prospects are also anticipated. Upon the return of the U.S. military base, a world-class ecological natural park similar to New York's Central Park is planned to be created, and the Yongsan International Business District and Yongsan Station area public development projects are also planned to be re-promoted. The area is expected to attract attention as a large-scale office complex equipped with business, commercial, and cultural facilities in the future.

A Sangji Kyleum official stated, “The real estate won by Kyleum D&D this time was contracted at a price lower than the market price, so high capital gains are expected in the future,” and added, “The company will continue to quickly capture investment opportunities and strive to contribute to sales and profit creation through proactive responses.”

Meanwhile, Sangji Kyleum, together with Leaders Technology Investment, a KOSDAQ-listed new technology business finance company, recently invested 13 billion KRW and 8 billion KRW respectively in Ace Biomed, a biotechnology company that develops and produces immunodiagnostic reagents and molecular diagnostic reagents for infectious diseases, to enter the COVID-19 diagnostic kit market.

This content was produced with the assistance of AI translation services.