Boom in Korean Based Investors
South Korea’s National Pension Service recently spent $685 million on Sydney’s landmark Aurora Place, while another company, Mirae,paid Energex $20.12 million for a site in South Brisbane.
“They have cheap cost of capital and are total-return focused, so from a diversification perspective, the Australian real estate market ticks all the boxes,” McVay Real Estate director Sam McVay said in the AFR.
Elsewhere in the country, South Korean developer Dong Yeon and the Global Group of companies is paying about $60 million for the Lakelands golf course development on the Gold Coast.
Another South Korean company, Lotte, recently took control of a $650 million masterplanned community Salacia Waters, at Paradise Point.
