Lotte Construction Signs MOU for Real Estate Development Investment Fund... Accelerating Transformation into Developer
Business Agreement Between K-Clavis Asset Management and Partners
Ha Seok-ju, CEO of Lotte Construction (fourth from the left), and Koo Jae-sang, Chairman of K-Clavis (fifth from the left), are posing for a commemorative photo after signing a business agreement for a real estate development investment fund at the Lotte Construction headquarters on the 24th.
Lotte Construction announced on the 25th that it has signed a 'Real Estate Development Investment Fund Business Agreement (MOU)' with K-Clavis Asset Management. This move aims to strengthen its capabilities as a comprehensive developer overseeing the entire project?from discovering business opportunities, planning, financing, construction, to operation management?beyond simple construction.
Through this agreement, both companies plan to establish specialized real estate investment funds such as the 'Real Estate Special Blind Fund' and the 'Logistics Center Blind Fund' to discover new real estate development opportunities and collaborate on project execution.
Lotte Construction will provide expertise in overall development projects, including indirect investment through funds, project feasibility and design review, construction, and construction management. K-Clavis Asset Management plans to build a partnership by offering financial advisory and investment services, including financial structure design.
Ha Seok-ju, CEO of Lotte Construction, stated, "Through this agreement, we will do our best to create synergy by combining K-Clavis's proven investment capabilities with our development expertise to establish a competitive business model." He added, "We expect this agreement to further solidify our position as a comprehensive developer."
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Meanwhile, Lotte Construction is conducting large-scale complex development projects as a developer. The Magok MICE complex development project, currently under construction, broke ground in May last year and is scheduled for completion in September 2024. The Incheon Geomdan New Town 101 Station Area Development Project is planned to start construction in the second half of this year, and the Icheon Deokpyeong Logistics Center project is also underway.
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