Kasa Korea pushes to sell building traded on its platform

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Kasa Korea pushes to sell building traded on its platform

Published: 03 May. 2022, 17:59

A building in Gangnam District, southern Seoul. traded on Kasa Korea platform. [KASA KOREA]

Kasa Korea is pushing to sell a building traded on its real estate platform in Gangnam District, southern Seoul.

Kasa Korea is a real estate securities trading site that allows users to purchase and trade fractional ownership of buildings on its mobile app. The company issues digital asset-backed securities that represent ownership of buildings and sells them to investors.

The company expects part of the building to be sold for 11.7 billion won ($9.2 million), up more than 10 percent from the price it was offered to investors.

The building has eight stories and a basement floor.

The company plans to hold a vote on sales of the building, which was its first real estate that was traded on the platform in November 2020.
The vote will take place from May 16 through May 18.

If voted for, it will be the second real estate property to be sold by Kasa Korea that was traded on the platform.

BY JIN MIN-JI [[email protected]]