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Hilton Seoul likely to be transformed into office
GIC mulls investing in $900 mn Hilton Seoul deal
Chae-yeon Kim, A-young Yoon and Jae-won Park
3 HOURS AGO
ENG
Millennium Hilton Seoul, the venue of South Korea s 1997 negotiations to secure a $58 billion rescue package from the International Monetary Fund, will likely be sold to Seoul-based IGIS Asset Management Co. for around 1 trillion won ($900 million) to be redeveloped as office and hotel spaces.
IGIS, the country s largest real estate investment firm, is in the final stages of talks to buy the five-star hotel building from Singapore-listed City Developments Limited (CDL), according to investment banking sources on May 24. ....

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