Netmarble will sell its headquarters building located in Guro-dong, Seoul.
According to the investment banking (IB) industry on the 18th, Netmarble recently sent a request for proposal (RFP) to real estate transaction advisory firms in order to sell the G Tower. The company plans to hold a briefing this month and select a sales agent before entering into the sale process in earnest.
The G Tower, completed in 2021, is located at 832-3 Guro-dong near Guro Digital Complex Station in Seoul. It is a large office building with 7 underground floors and 39 above-ground floors, covering a total floor area of over 170,000 square meters. Currently, subsidiaries including the Netmarble headquarters, Coway, Netmarble FNC, and Netmarble Neo are occupying the building.
Netmarble is reported to desire a sale price in the high 10 million won range per 3.3 square meters for the G Tower. The total amount, converted based on the gross floor area, is estimated to be around 700 billion to 800 billion won. The proceeds from the sale are expected to be used for investments in the development of new games.
Netmarble and its affiliates are reportedly shifting toward long-term leasing rather than relocating their headquarters to increase the likelihood of selling the G Tower.