Hanyang Securities announced on the 13th that it has completed project financing (PF) for the mixed-use urban development project in the Gyeonggi Province city of Gwangju, Gyeongan District 2. Hanyang Securities participated as the financial lead manager for a total scale of 280 billion won.
The core of this project is to build 673 housing units and 216 officetel units in four mixed-use buildings on a 29,725-square-meter site in the area of 28-3, Yeokdong, Gwangju, Gyeonggi Province. The project, which began in earnest in 2019, faced delays due to the real estate market downturn and changes in the business plan.
After Hyosung Heavy Industries participated as the construction company and Hanyang Securities as the financial lead manager last year, the project was revitalized and has now reached the completion of the PF. Construction will begin in April, and sales will commence in May, with completion targeted for 2029.
To strengthen its investment banking (IB) capabilities and real estate PF risk management at the beginning of this year, Hanyang Securities hired Kim Gi-hyung as the head of IB. Subsequently, the company is accelerating its real estate PF business, which recorded a turnaround in performance last year.