Lotte Engineering & Construction, a real estate and asset development company, announced on the 14th that it is pursuing the sale of logistics centers being constructed in Icheon and Anseong.
To this end, Lotte Engineering & Construction recently sent a request for proposal (RFP) to accounting firms for selecting a sales advisory firm.
The sale targets are the Anseong CDC logistics center in Hyunmae-ri, Seowoon-myeon, Anseong, and the logistics center in Daedae-ri, Daewol-myeon, Icheon. The Anseong CDC logistics center broke ground in 2023 and is still under construction, while the Icheon logistics center has been completed after three years of construction that began in 2022. The expected sale price is about 200 billion won.
Some view this sale as an effort by the Lotte Group to secure funding. Lotte Engineering & Construction has clarified that it is far from normal revenue-generating businesses that are faithful to the company's main operations and far from securing liquidity.
A representative from Lotte Engineering & Construction noted, "This sale of the logistics center is a strategic decision for the efficient operation of Lotte Engineering & Construction's assets and portfolio optimization," adding, "It has no relation to securing liquidity at the group level."