Real Estate Fractional Investment Platform 'Soyu' Unveils 2nd Public Offering Building 'Itaewon Savage Garden'

[Asia Economy Reporter Ryu Tae-min] Lucent Block, which operates the real estate revenue securities exchange ‘Soyu,’ unveiled its second public offering building, ‘Itaewon Savage Garden,’ on the 12th. The public offering will be conducted on a first-come, first-served basis from the 1st to the 8th of next month.

‘Soyu’ is a real estate fractional investment service that securitizes high-priced commercial real estate into revenue securities, allowing small-scale buying and selling like stocks. Soyu was designated as an innovative financial service by the Financial Services Commission in 2021. It operates the service through a consortium with financial authorities and several trust companies, including Hana Financial Investment, the account management institution.

The second public offering building of Soyu, ‘Itaewon Savage Garden,’ is located in Itaewon-dong, Yongsan-gu, a beneficiary area where real estate asking prices and actual transaction prices have risen due to various favorable factors such as the recent relocation of the presidential office to Yongsan and the opening of Yongsan Park. However, the total public offering amount for Savage Garden was set at 6.8 billion KRW, which is lower than the surrounding market prices. According to Soyu, the building was purchased before the favorable developments in Yongsan-gu, allowing the public offering price to be set low.

‘Itaewon Savage Garden’ is operated in partnership with the space management company ‘Glow Seoul.’ Glow Seoul is a regional development and real estate solutions startup. It has successfully transformed areas previously perceived as underdeveloped old downtowns, such as Ikseon-dong in Seoul and Soje-dong in Daejeon, into new commercial districts, garnering positive responses.

Lucent Block CEO Heo Se-young stated, "Even those who felt that rising real estate prices were someone else’s concern can earn profits with small amounts through Soyu," adding, "In addition to investment returns, we plan to provide experiences as a hot place building owner through discounts and offline events."

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