The Government of Singapore Investment Corporation (GIC) has unveiled its plans for the renovation of the Seoul Finance Center (SFC). SFC is an office building completed in 2001, which was acquired by GIC in 2000 and has been held for over 25 years. At the end of 2024, GIC made moves to sell the property, but no transaction took place due to a lack of market liquidity and differences in expectations between buyers and the seller. Since a considerable amount of time has passed since the SFC was completed, the burden of having to incur large-scale capex costs upon acquisition was a concern raised by potential buyers. Buyers […]