South Korea-based investment firm Mirae Asset Global Investments has plans for an initial public offering for its REIT followed by a listing on the nation’s main stock exchange Kospi, reported The Korea Herald.
The REIT is designed to invest in a commercial space of the commercial-residential complex dubbed Gwanggyo Central Prugio City. The real estate asset is located in a planned city of Gwanggyo in Gyeonggi Province, located approximately 25 kilometers (16 miles) south of Seoul.
Gwanggyo Central Prugio City is a 17-story building with eight underground levels and totals 86,190 square meters (928,000 square feet) of floor space. The area is valued at 278 billion won ($228.3 million).
