DL E&C joined hands with leading domestic financial institutions to ensure the successful push of the Apgujeong District 5 reconstruction project and maximize members' residential value.
DL E&C said on the 11th that on the 10th it signed a "high-end finance memorandum of understanding (MOU) for Apgujeong District 5" with a total of 10 financial institutions, including the five major commercial banks (KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, NH NongHyup Bank) and the five major securities firms (KB Securities, NH Investment & Securities, Samsung Securities, Korea Investment & Securities Co., Kiwoom Securities).
The agreement was reached to provide a "high-end financial solution" that goes beyond simple project financing.
DL E&C plans to pour the high-end residential know-how accumulated through ACRO Seoul Forest, which broke the domestic highest transaction record and reshaped the real estate market, into Apgujeong District 5. In particular, reflecting the characteristics of "VVIP members" with asset value of 10 billion won or more, it will swiftly introduce DL E&C's exclusive financial service partnership, "The Rich Finance."
The Rich Finance is an integrated financial package exclusively for Apgujeong District 5 members that goes beyond simple loan support, linking with private banking (PB) services of top-tier domestic financial institutions to cover everything from asset management to tax consulting, inheritance, and gifting.
The 10 financial institutions participating in this agreement said they joined after highly evaluating Apgujeong District 5's overwhelming future value and DL E&C's financial soundness (credit rating AA-) and the industry's lowest level of debt ratio (84%). Through this, Apgujeong District 5 has secured a stable funding line amid external risks such as future interest rate volatility. Members are also expected to be able to use financial services under the best conditions in the country.
A DL E&C official said, "Apgujeong District 5 is a symbolic project that will rewrite the map of Korea's affluent neighborhoods beyond a simple reconstruction project," adding, "We will combine DL E&C's industry-leading financial stability with the capital strength of top domestic financial institutions to offer members a high-end financial solution unmatched anywhere else."
The official added, "Unlike other builders, DL E&C will focus solely on bidding for Apgujeong District 5 within Apgujeong and will continue to present the best business terms for this location."