Incheon Free Economic Zone Authority
Incheon--(뉴스와이어) 2007년 08월 27일 -- Incheon Metropolitan City(Mayor Ahn Sang-su) and Incheon Free Economic Zone Authority (Commissioner Lee Whan-gyun) signed the Development Agreement with Portman Consortium for the multi-use development project on 2,300,000㎡ of land (exclusive of public land area, etc)of Districts 6&8, Songdo, FEZ in the International Conference Room of Songdo Get Pearl Tower on August, 27 2007. Portman Consortium consisting of Portman Holdings (US), Samsung Corp., Hyundai E&C Co., LTD., and SYM & Associates, Inc. is planning to build the international level of landmark city including the 151-story Incheon Tower by investing KRW 17 trillion.
The Development Agreement was followed by Project Development Agreement signed in July and MOU in Feb. 2006 as one of agreements to be executed for the project. The development project is expected to be in full swing soon, as such agreement contains the agreed issues with respect to Business Plan and Master Plan for successful project development including the Incheon Tower of which construction will be commenced within this year.
Mayor Ahn of Incheon Metropolitan City said the 151-story Incheon Tower will be an important landmark for building the hub in Northeast Asia together with 2008 World City Expo and 2014 Asian Games emphasizing that the Development Agreement will be a key milestone bringing the new future to Incheon.
Construction of the Incheon Tower with 151 stories is scheduled to be completed in 2013. The Tower is expected to attract the world renowned foreign companies through strong branding effect drawing world’s attention, and promote the image of Incheon by evidencing its technological capability and competitiveness.
The Landmark City with the 151-story Incheon Tower (GFA 600,000㎡) and the artificial lake (730,000㎡) will be developed in phases by 2017. The city is expected to play a role as a driving force that attracts high quality human resources and foreign companies as it will be developed as an attractive and creative city with distinguished Master Plan and Construction Plan.
Jack Portman, vice chairman of Portman Holdings, said this project will be an opportunity to create a dramatic mixed use development highlighted by the iconic 151-story Incheon Tower. The development will incorporate animated 21st century communities showcasing the growth of a new part of Korea, a new more technologically advanced environment of cutting edge opportunity.
Portman Holdings, located in Atlanta, US, is in charge of the project development of Portman Group established in 1953. The main business of Portman Holdings is possession and development of real estate and architectural design and John Portman and Associates in Portman Group is the world renowned architect. Portman Group has Americas Mart , the world’s largest of its kind.