Cloud Air, listed on the KOSDAQ, announced on the 3rd that it will invest 50 billion won in the urban development joint housing project in Deokso District 1, Namyangju, which is scheduled to be implemented by its parent company HMG as a bridge loan. A bridge loan means providing loans needed until the project financing (PF) for the main project is approved.
Cloud Air noted that it conducted a joint investment with HMG based on the good location and revenue growth potential of Deokso District 1. The urban development project in Deokso District 1 aims to supply joint housing in the vicinity of 180-1 Deokso-ri. It is close to Deokso Station, where the TX-E and F lines are expected to be newly established, as well as the Deokso Sampae tollgate (TG). Additionally, Ye Bong Elementary School, Ye Bong Middle School, Wabu High School, and the academy street are within walking distance.
While Cloud Air primarily manufactures automobiles and lighting light-emitting diodes (LEDs), it added real estate development, consulting, and sales agency to its business objectives in 2023.
A Cloud Air official said, "If we recover this bridge loan investment in August, we plan to reinvest some of it into equity in the project to maximize investment revenue," and noted, "In the future, we plan to expand joint investment opportunities only in low-risk, high-revenue project sites together with HMG."