Hanmi Global enters local REITs market

Hanmi Global AMC, a real estate investment arm of Hanmi Global, said Tuesday that it has acquired final approval from the Land Ministry to enter the local REITs market.

Hanmi Global AMC has obtained its preliminary approval from the ministry in August and was putting together its team of executives to spearhead its kick-off.

REIT, short for real estate investment trust, is a company that pools capital from investors to finance income-generating property assets and return dividends to individuals later on.

“Hanmi Global has been scaled up to stand as the sole one-stop real estate group in Korea, capable of overseeing the entire life cycle of a real estate asset, ranging from design and planning to construction management, building operation, and disposal,“ an official of the company said.

Other branches steered by Hanmi Global, apart from its flagship construction management, include real estate development, investment and construction supervision.

By Ahn Ju-hee (dianahn@heraldcorp.com)