[THE INVESTOR] Daishin Financial Group plans to build a high-end luxury residential complex, with prices starting at 4 billion won (US$3.58 million), in Hannam-dong, Seoul, according to news reports on July 24.

Residential complex for foreigners in Hannam-dong/ Lotte E&C

The firm, through its real estate developer affiliate Daishin F&I, successfully bid 624.2 billion won for a 59,182 square meter residential site that is presently used as apartment buildings for foreigners. 

Its development plans have recently got approval from authorities. Named Nine One Hannam, it will have nine buildings for 335 houses. Each residence will be 205 square meters at the minimum and the complex, to be built by Lotte Engineering and Construction, will be equipped with a park, swimming pool, gym, lounge and guest houses. 

By Hwang You-mee (glamazon@heraldcorp.com)