BoI invests for clients in Seoul IFC

Bank of Ireland Private Banking has confirmed it has invested about €50m on behalf of its clients in the development of the International Finance Centre in Seoul (IFC Seoul), South Korea.

IFC Seoul will be a €1.6bn, mixed use commercial development. It will comprise about 5.7 million square feet of office, retail and entertainment facilities, including a 450-bedroom, five-star hotel. The development will be located in Yeouido, a leading financial district with an excellent transport and communications infrastructure in Seoul city centre.

The development of IFC Seoul is led by AIG Global Real Estate, a group of international companies within AIG Global Investment Group, the investment management division of American International Group, Inc.

AIG Global Real Estate has invested in and actively manages over 53 million square feet of real estate in over 50 countries worldwide, with particular emphasis in Asia.