JEJU-DO < invest Korea

(JEJU=NEWSIS) Dongwha Investment & Development Co., Ltd. and China’s Greenland Group, which are building the dream tower in Jeju, completed their joint development contract.

According to Dongwha Investment & Development Co., Ltd. on September 2, Greenland Group paid the balance of KRW 183 billion to Dongwha Investment & Development Co., Ltd. among the KRW 192 billion of the project land cost while Donghwa Investment & Development Co., Ltd. made a down payment of KRW 100 billion on the casino hotel to Greenland Group.

The completion of the contract between the two companies was reached when Donghwa Investment & Development Co., Ltd. received the construction permit of the dream tower from Jeju City on August 21.

Dongwha Investment & Development Co., Ltd. and Greenland Group signed a contract to jointly develop the dream tower in November, 2013.

The dream tower, which will be a complex resort, will complete the construction in the second half of 2018.

kjm@newsis.com

Source Text

Source: Newsis (Sept. 02, 2015)

** This article was translated from the Korean.