Daishin Asset Trust获选首尔千户汉江片区综合开发优先投标方并签署MOU

Daishin Asset Trust is expanding its urban redevelopment portfolio by increasing its participation in downtown redevelopment and mixed-use urban development projects in Seoul.
According to the redevelopment industry on the 24th, the preparatory committee for the Cheonho Han River zone mixed-use urban development project recently conducted a bid for a preliminary project operator and selected Daishin Asset Trust as its preferred bidder on the 9th. The two sides then signed a memorandum of understanding (MOU) on the 21st to pursue project operator designation and licensing procedures, and have begun follow-up steps.
The project site is located along the Han River between Amsa Station and Cheonho Station. If the zoning is upgraded, the site is expected to accommodate a mixed-use residential complex of up to about 1,400 units.
Daishin Asset Trust will handle designation as the prospective project operator, innovation district designation, trust contract signing, and licensing support going forward. Whether to provide initial project funding and its specific scale will be decided through consultation with the preparatory committee.
Mixed-use urban development is a method of developing underutilized sites in downtown areas, such as those near subway stations, at high density. Under the trust method, a trust company participates as the project entity and supports funding and licensing, and it is considered to advance projects faster than the cooperative method.
The redevelopment industry expects the role of trust companies to grow as trust-based mixed-use urban development expands, centered on downtown Seoul.
"The advantage of the trust method is that initial decision-making and fund operation can proceed quickly," an industry official said. "Competition to win new downtown Seoul projects will intensify, centered on trust companies with project experience and fund-raising capabilities."
Meanwhile, Daishin Asset Trust is carrying out major Seoul urban redevelopment projects, including the reconstruction of Mokdong Complex 13, the redevelopment of Sangdo Zone 15, and the Galwol-dong Sookmyung Women's University Station area mixed-use urban development. With the addition of the Cheonho Han River zone project, its downtown Seoul redevelopment portfolio has expanded further.