CCB acquires prime commercial real estate in Seoul
By Zhu Wenqian | China Daily | Updated: 2014-12-16 07:23
State-owned China Construction Bank Corp has become the first Chinese lender to buy a single office building in Seoul, the South Korean capital, in a deal worth 300 million yuan ($48.5 million), the Seoul office of the bank has confirmed.
The deal to acquire the 12-story Tongyang Life Insurance building was agreed in October and marks the first major expansion in the city by a leading Chinese organization.
Located on an avenue called Euljiro in downtown Seoul, the building is near the main offices of many Korean multinational corporations and financial institutions.
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