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Gale JV, LIG Consortium Plan Songdo IBD Offices

SONGDO, SOUTH KOREA-The 2.3-acre trophy towers reinforce the IBD's emergence as a financial district for Northeast Asia and Songdo's aerotropolis.

By Connie Gore | Updated on May 21, 2008

SONGDO, SOUTH KOREA-LIG Consortium will build two office buildings at the epicenter of Songdo International City’s emerging financial district. The landmark buildings, set on 2.3 acres, will be owned by LIG Consortium, which plans to multi-tenant part of the class A office space as a financial linchpin for the under-construction aerotropolis.

Penciled for a 2009 start and 2012 delivery, the towers will be situated in the F2 block, close to the country’s tallest office building, the Northeast Asia Trade Center, an advanced corporate center set to open in 2010. The size of the LIG towers, development cost and architect have yet to be determined.

Gale International and Posco E&C have formed a 70-30 joint venture, New Songdo International City Development LLC, to develop the city. The Songdo aerotropolis. is a 1,500-acre development being built in the Incheon Free Economic Zone near Incheon International Airport, one of the busiest in the world. The airport and Songdo international business district [IBD] will be linked by a 7.4-mile bridge that’s on track to deliver in 2009. Future infrastructure calls for a subway between the airport and the development and a new freeway at its northern gateway.

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