SINGAPORE - GIC said on Wednesday (Dec 19) that it will purchase Blocks An and B of Hwaseong Dongtan Logistics Complex in Gyeonggi Province in South Korea for US$570 million (S$780.7 million) through a land subsidize. 

The Singapore sovereign riches finance said Blocks An and B are two recently finished, prime-review circulation focuses. They are a piece of the Hwaseong Dongtan Logistics Complex, which is found 35 km from Seoul and with great access to the Seoul-Busan Expressway, the No. 1 supply route road in South Korea. The two squares are completely rented by quality occupants with long haul leases, said GIC, without indicating subtleties. 

The coordinations space was purchased from K-Eco Logis Co, an auxiliary of Halla Corp and the engineer of the advantages. The land finance is overseen by ADF Asset Management, an advantage the board organization that has some expertise in South Korea's modern segment. 

"This venture is in accordance with GIC's methodology to claim resources with long haul acquiring potential at sensible costs and with due respect to chance," GIC said.
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