UK real estate developer SDC Group has invested in a large-scale development project in the Yongyu-Muui area of the Incheon Free Economic Zone. Plans include an initial injection of $1 billion into the project, which will include a culture, tourism and leisure city (forecast population: 250,000) on a 79.9 square kilometer-site.

SDC signed an investment contract in June with Eightcity, a special purpose company created for the development, to establish a financial investment consortium. The company plans to secure additional fund for land acquisition in the Yongyu-Muui area and draw more investors to the project.

Source Text

Source: Yonhap News (May 31, 2012)

** This is the translation of a Korean article.