GIC invests $192m in Korean mall
Singapore’s state-owned investment firm GIC has invested S$192.4 million (US$136 million) in Seoul’s G-Square City Retail Complex.
Completed in 2012, the mall spans 238,248 sqm across eight floors in the centre of Anyang City. A landmark office tower is part of the complex.
The mall is run by Lotte Shopping, but after the acquisition will be managed by IGIS Asset Management.
GIC real estate chief investment officer Lee Kok Sun says G-Square is in line with the group’s strategy of acquiring income-generating assets.