GIC invests in South Korea’s industrial market
Singapore’s GIC has invested in a real estate fund that has acquired the newly-built Hyundai Logistics Distribution Centre in Incheon, South Korea, for US$130 million from LogisKoel, the developer of the asset. The real estate fund is managed by ADF Asset Management Co, an asset management company specialising in the South Korean logistics sector.
“As a long-term investor, we believe in the potential of Korea’s growing industrial sector,” said Loh Wai Keong, managing director and co-head Asia, with GIC Real Estate, in a statement. “This asset is well-located in a key industrial market as part of a comprehensive logistics park and will generate a stable long-term income stream.”
The grade A Hyundai Logistics Distribution Centre comprises 126,708 square metres. It is the largest part of LogisValley Incheon, the second-largest industrial park in Incheon City and the home of national logistics centres for several multinational retailers and distributors. Comple