LH Signs Business Agreement for 'Healthcare REITs' to Supply Senior Towns

Korea Land and Housing Corporation (LH) announced on the 5th that it signed an agreement with MDM Plus Co., Ltd. at the LH Gyeonggi Southern Regional Headquarters in Seongnam-si, Gyeonggi Province to promote the 'Hwaseong Dongtan 2 Healthcare REITs (Real Estate Investment Trusts) project.'

On the 5th, at the healthcare REITs business agreement signing ceremony between Korea Land and Housing Corporation (LH) and MDM Plus, Kim Jae-kyung, Head of LH Regional Balance Headquarters (left), and Koo Myung-wan, CEO of MDM Plus (right), are taking a commemorative photo.
[Photo by Korea Land and Housing Corporation (LH)]

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This agreement was prepared to implement the business plan submitted by MDM Plus, which was selected as the preferred negotiator for the 'Healthcare REITs project' public offering on April 19. Through this project, a complex residential complex combining senior housing, officetels, medical, office, commercial, and cultural facilities will be developed on approximately 180,000㎡ of land within the Hwaseong Dongtan 2 district.

The signing ceremony was attended by Kim Jae-kyung, Head of LH Regional Balance Headquarters, and Koo Myung-wan, CEO of MDM Plus, among others.

The main business agreement items include ▲ establishment and business approval of the Healthcare REITs ▲ implementation of the business plan ▲ public stock offering and listing ▲ contribution to community development.

After the agreement, the plan is to complete the REITs business approval and land sales contract within the year. This will initiate construction in the first half of 2026, with completion and move-in scheduled for 2029.

In 2031, a general public offering and listing of REITs stocks will be pursued. After the stock offering, the general public will be able to own Healthcare REITs stocks or receive dividends.

Head Kim said, "We are actively responding to the demographic changes as our society approaches a super-aged society by preparing and promoting the largest senior town business model in Korea," adding, "In line with government policies, we will swiftly proceed with follow-up projects in the 2nd and 3rd phase new towns as well."

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