Netmarble's real estate development and asset management subsidiary, Entap Asset Management, is participating in a 1.33 trillion won medical complex development project in Gwacheon, focusing on the development and operation of senior residences.
On October 29, Netmarble announced that Entap Asset Management has signed a real estate acquisition contract related to the Gwacheon medical complex development project.
This project is part of Gwacheon's initiative to attract a general hospital and expand local medical infrastructure through the 'Special Planning Zone Development Project within the Gwacheon Public Housing District.' The area will feature a university hospital, medical and high-tech industrial facilities, as well as mixed-use office, cultural, and commercial spaces.
Entap Asset Management will participate in the development and leasing operations of the senior residences planned as care facilities for the elderly and children requiring assistance.
Building on its experience from participating in real estate development projects like the Gwacheon Knowledge Information Town, Entap Asset Management aims to expand its business into the senior housing sector.
The total amount of the real estate acquisition contract is 1.33 trillion won. Entap Asset Management will self-finance the down payment, which is scheduled to be paid on the 30th. The development project will be carried out through a separate project financing vehicle (PFV) that will secure funding through project financing (PF).
An Entap Asset Management official stated, “We will proceed with the senior residence project stably based on the capabilities accumulated from our existing real estate development and asset management business, and we will continuously expand our business portfolio to respond to changing housing demands.”
* This article has been translated by AI.
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