Global Property Investors Target Asia

With office space at a premium, Seoul joins Tokyo, Hong Kong, and Singapore as a destination for foreign investment dollars

Morgan Stanley's (MS) bid to buy a Seoul office tower for some $1 billion underscores global investors' voracious appetite for Asian real estate assets. It also reflects fierce competition, led by investment bankers and fund management companies, for office space in the South Korean capital, which, until last decade, was shunned by foreign property investors.

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