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NH Investment emerges as preferred bidder for South Korea property

NH Investment & Securities Co. Ltd. emerged as the preferred bidder for an office building in the Yeouido district, Seoul, South Korea, offering around 1 trillion won, the Pulse News reported, citing financial industry sources.

The bid is the third-largest amount offered for an office building in the country to-date, the report added.

Y22 Project Financing Investment Ltd. is currently developing the 167,306-square-meter Tower 2 property which has 60 floors and is located at the under-construction Parc 1 multipurpose complex.

The complex is set to be completed by July 2020.

As of Jan. 16, US$1 was equivalent to 1,159.49 South Korean won.