Keppel completed the acquisition of the Sogong Annex Facility from Bank of Korea for $1.1bn.

Keppel, a company consists of several affiliated businesses that specialises in offshore and marine, property, infrastructure and asset management businesses, completed the acquisition of the Sogong Annex Facility from Bank of Korea, a central bank of the Republic of Korea, for $1.1bn. “Keppel is excited to continue contributing to the renewal of Seoul’s urban landscape. Similar to how we are refurbishing Samhwan Building, acquired last year jointly with Keppel’s private funds, we will leverage digital technologies to retrofit and future-proof the Sogong Annex Facility. We will also be incorporating features such as a high-performance building facade, efficient cooling and heating systems, as well as LED lighting systems to enhance the building’s sustainability performance and indoor environmental quality. We are confident that the attractiveness and overall value of the asset will be greatly enhanced when refurbishment works are completed,” Louis Lim, Keppel Corporation CEO of the Real Estate Division.