Sale of Grand Hyatt Hotel Parking Lot Site... Approximately 200 Billion Won Scale

[Asia Economy Reporter Hyungsoo Park] Seoul Mirama Co., Ltd. announced on the 9th that it recently sold land to a PFV (Project Finance Vehicle) formed by a consortium including Eden Asset Management and developer UOD.

The parking lot site of the Grand Hyatt Hotel offers views of Namsan and the Han River. The site is situated with Namsan embracing it from the back, and the Han River visible in front, making it known as a prime residential site in Hannam-dong.

The sold parking lot site of the Grand Hyatt Hotel is residential land located in the southwest part of the hotel’s total area of 73,272㎡ (22,165 pyeong). It consists of a total of 8 parcels. The area is approximately 8,757㎡ (2,650 pyeong). The total sale amount is about 200 billion KRW.

Since early this year, news of the parking lot site sale has attracted interest from major construction companies and well-known domestic asset management firms.

Investment banking (IB) industry and real estate officials said, "Luxury residential complexes such as Nine One, UN Village, and The Hill have been established around the hotel," adding, "If the Hyatt Hotel residential site is developed, Hannam-dong is expected to become known as a luxury housing hotspot."

Major shareholders of Seoul Mirama Co., Ltd., including KH Philux, KH Electron, KH E&T, and Jangwon Tech, are expected to see a significant improvement in financial soundness due to the large inflow of funds from the sale.

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