Hanwha Galleria Acquires Seoul Prime Real Estate for 450.2 Billion Won Over Two Weeks

According to the Financial Supervisory Service disclosure system, South Korea's Hanwha Galleria (ticker: 452260) signed contracts to acquire two Seoul properties over a two-week period. On July 14, the company purchased land in Gangnam's Sinsa district (2,749.5 square meters) for 236.7 billion won, while on June 30 it acquired the Sunhwa building and adjacent land in Jung district for 213.5 billion won. Combined real estate acquisitions totaled 450.2 billion won. The company stated that the acquisitions are intended for real estate development and corporate headquarters use, with expected returns through development projects and rental income. The moves align with Hanwha Group's restructuring, as Hanwha Galleria becomes part of the new holding company's 'Life Solutions' division effective August 1.
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