en.Wedoany.com Reported - Lotte Engineering & Construction (Lotte E&C) announced that the project financing (PF) financial agreement for the mixed-use residential and commercial development project on the site of the former Homeplus Bucheon Sangdong store was completed on the 1st of last month, with a scale of 1.5 trillion won.

The PF was led by Kiwoom Securities, with participation from several major domestic securities firms, including Woori Investment & Securities, Daishin Securities, Samsung Securities, Korea Investment & Securities, and Kyobo Securities.

Lotte E&C stated that with the PF funds in place, its contingent liabilities of 228 billion won will be completely eliminated, and the total contingent liabilities are expected to decrease to approximately 2.7 trillion won. The project is located on the site of the closed Homeplus Bucheon Sangdong store and plans to build a mixed-use residential and commercial complex with 7 buildings, ranging from 8 floors underground to 49 floors above ground, including a total of 1,859 multi-family housing units and various community facilities.

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