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Koh Brothers goes 'Gangnam style' with acquisition of $119 mil property

Jude Chan Published on Fri, May 19, 2017 / 5:52 PM GMT+8

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SINGAPORE (May 19): SGX Mainboard-listed Koh Brothers Group on Friday says it has made its maiden entry into the Korean real estate market with the joint-acquisition of a freehold site in Seoul’s famed Gangnam-gu district for 95.8 billion Korean won ($119.0 million).

The existing YMCA building has a gross floor area of 17,798.5 sqm and sits on a land area of 4,610.9 sqm.

Located in the heart of Seoul’s central business district, the prime mixed-use asset for redevelopment was acquired through Koh Brothers’ 45%-owned joint venture.

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Koh Brothers goes 'Gangnam style' with acquisition of $119 mil property