Singapore’s sovereign wealth fund GIC is preparing to offload One Sentinel, a Grade-A office tower in Seoul’s Yeouido business district, only three years after acquiring it—a rare move for an investor best known for decade-long holds.

Market observers see the decision as a clear signal that GIC is accelerating its portfolio rebalancing, trimming office exposure while shifting toward alternatives such as logistics, data centers, and hospitality.

Located at 70 Yeouidaero, One Sentinel stands 30 stories above ground with seven basement levels, offering 70,637 square meters of GFA. Its prominence is enhanced by direct proximity to Yeouido Station—one of Seoul’s busiest transfer hubs—and the Yeouido Transit Center.

Overlooking Yeouido Park and the Han River, the property sits at the heart of Seoul’s designated International Digital Finance Hub, a zoning framework that allows for higher-density redevelopment.

GIC, in partnership with IGIS Asset Management, acquired the building in August 2022 for KRW 639.5 billion (approx. USD 480 million), paying KRW 30.2 million per 3.3m², with GIC contributing roughly KRW 300 billion in equity.

Formerly the Shinhan Investment Tower, the asset underwent a major refurbishment through May 2025, including a horizontal podium extension that expanded retail floors from one to four and boosted leasable space by more than 600 m².

Since the repositioning, the owners have pushed hard on leasing. Tenants secured include NH Nonghyup Capital, Mirae Asset Life Insurance, Woori Investment & Securities, and Hyundai Motor Securities’ IT division, taking occupancy to 70%. With the Korea Fire Insurance Association expected to sign, leasing momentum is on track to reach 85%.

The decision to test the market has surprised many in the industry. GIC is still holding its flagship Seoul Finance Center, purchased in 2000 at the height of the Asian financial crisis—a testament to its long-term approach.

By contrast, a three-year hold period for One Sentinel looks like a tactical exit, designed to crystallize gains and reweight its portfolio mix.

Even so, brokers expect fierce competition once the asset is officially launched for sale. As one local investment banker put it, “There are very few towers in Yeouido with this combination of scale, location, and upside. For investors with a long-term horizon, One Sentinel will be hard to ignore.”