Shinsegae Property and Inchang Development Sign MOU for Joint Project 추진

[Asia Economy Reporter Jo In-kyung] Shinsegae Property announced on the 21st that it has signed an MOU for joint business promotion on project development and consignment operation with Inchang Development, a leading real estate development company in Korea.

Through this MOU, Shinsegae Property plans to participate in the development and operation of mixed-use commercial facilities on the 'Paju Unjeong Residential and Commercial Site (site area 89,979㎡)' developed by Inchang Development and constructed by Hyundai Construction, as well as the 'Gayang-dong CJ Site (105,775㎡)'.

Previously, Shinsegae Property successfully developed and operated the Starfield complex shopping mall in cooperation with Inchang Development, which has many years of development experience in residential, office, and knowledge industry centers. Leveraging the know-how accumulated during this process, it will continue to be responsible for commercial facility development, store attraction, and operation within large-scale complex facilities.

Through this joint business, both companies plan to newly expand their business areas and secure enhanced competitiveness as developers.

Inchang Development expects to secure stable operating assets by actively utilizing Shinsegae Property’s expertise in commercial facilities, and to simultaneously satisfy the company’s sustainability and the commercial facility needs of local residents through stable asset management of large-scale commercial facilities beyond the limitations of individual sales.

Shinsegae Property, which presented the next-generation model of offline distribution facilities as a complex shopping mall, plans to build a foundation to advance as a complex developer through various mixed-use development projects including residential and knowledge industry centers, leveraging its core strength in retail.

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