Establishing Cooperation System for Real Estate Finance and REITs
"Expectations for Rental Housing and Urban Regeneration Revitalization"
Gwangju Urban Corporation signed a business agreement with the Korea REITs Association to establish a real estate finance cooperation system at 2 p.m. on the 25th in the corporation's conference room. Photo by Gwangju Urban Corporation
Gwangju Urban Corporation signed a business agreement for mutual cooperation with the Korea REITs Association on the 25th at the corporation's conference room.
This business agreement aims to establish a real estate finance cooperation system between Gwangju Urban Corporation, the first non-capital region company to receive approval for dual operation as an Asset Management Company (AMC), and the Korea REITs Association, which plays a leading role in the REITs industry.
REITs (Real Estate Investment Trusts) refer to joint-stock companies that are indirect investment organizations established under the Real Estate Investment Company Act, which collect funds from multiple investors (such as the Housing and Urban Fund, institutional investors, etc.) to invest in and manage real estate.
Through the agreement, both parties agreed to mutual cooperation in ▲education, consulting, and information exchange ▲conducting joint research related to real estate finance ▲regulatory improvements to revitalize REITs. As a result of this agreement, Gwangju Urban Corporation's public REITs projects are expected to become more active.
Kim Seung-nam, president of Gwangju Urban Corporation, stated, “Recently, there have been difficulties in promoting new projects due to the real estate market downturn and strengthened debt management of public enterprises. Through this business agreement with the Korea REITs Association, we hope that our corporation's supply of rental housing and urban regeneration projects utilizing REITs and real estate finance will be further revitalized.”
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