- IGIS, Korea’s largest real estate asset manager, signs an MOU with CHA Bio Group to establish the first life sciences real estate venture.
- Life sciences, real estate, Korea, JV, healthcare.
SEOUL, KOREA – Media OutReach – 16 February 2023 – IGIS Asia Investment Management (“IGIS”), the pan-Asian investment arm of IGIS Asset Management, South Korea’s largest real estate investment manager, announced this month a partnership with CHA Bio Group (“CHA”), one of the largest and oldest biopharma groups in South Korea with a vast global presence, to form a new Asia-Pacific life science real estate investment platform.
The venture targets to provide best-in-class life science real estate for R&D, manufacturing, and other supporting services for a spectrum of companies ranging from biotechnology incubators to multinational pharmaceutical groups in the Asia-Pacific region, including metropolitan cities in South Korea. The partnership will rely on IGIS’s past track record of real estate transactions and CHA’s expertise in the life sciences industry to gain first-mover advantage in providing life science real estate solutions in South Korea and overseas.
IGIS and CHA share the view of the venture’s role as a catalyst for the robust growth of life science sector in the Asia-Pacific region. To respond to rapidly changing demand and multifaceted market challenges, the venture will develop and invest in high-quality life science assets, including R&D and manufacturing facilities, hospitals, medical offices, and other healthcare centers in Asia-Pacific. In addition, IGIS aims to establish Korea Life Science Investment Platform (“KLSIP”), the first Korea-focused investment vehicle on life science real estate, to invigorate the venture with capital to develop facilities that meet the demands of the growing life science industry in South Korea.
