Woori Asset Trust Enters Daeto REITs Market
Asset Management Contract with Woori Gyosan Daeto No.1 Entrusted Real Estate Investment Company
Woori Asset Trust signed the 'Woori Gyosan Large Land REITs Business Consignment Contract' on the 1st at the Woori Asset Trust headquarters located in Samseong-dong, Seoul. From the left, Lee Chang-jae, CEO of Woori Asset Trust; Kim Heung-tae, CEO of Woori Gyosan Large Land No.1 REITs Co., Ltd.; and Han Gye-hyun, CEO of Gyosan Holdings Co., Ltd., are taking a commemorative photo.
View original image[Asia Economy Reporter Kim Jin-ho] Woori Asset Trust, a comprehensive real estate finance subsidiary of Woori Financial Group, announced on the 2nd that it signed an asset management contract with Woori Gyosan Daeto No.1 Trust Management Real Estate Investment Company (Woori Gyosan Daeto REIT) on the 1st and is entering the Daeto REIT market.
Woori Asset Trust obtained approval from the Ministry of Land, Infrastructure and Transport at the end of March to operate as a REIT asset management company and has strategically prioritized the Daeto REIT business to respond to the increasingly competitive market.
'Woori Gyosan Daeto REIT' is a real estate investment company established for the purpose of enabling original residents to resettle and directly enjoy development profits through the Daeto development project for Daeto compensation right holders in the Hanam Gyosan area, one of the third-phase new town planned districts.
The founding entities of Woori Gyosan Daeto REIT?Woori Asset Trust, Gyosan Holdings, and Sejong Law Firm?have been conducting explanatory sessions and other procedures regarding Daeto compensation and the Daeto REIT operation structure for Daeto compensation right holders in Hanam Gyosan since July, and plan to complete the special registration of Woori Gyosan Daeto REIT by the end of this year.
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Lee Chang-jae, CEO of Woori Asset Trust, said, “Through this project, we will do our best to contribute to improving the public’s residential environment with transparent business handling, including profit realization for Daeto compensation right holders, stable project progress, and resettlement of original residents.”
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