This month, IGIS Asia Investment Management ("IGIS"), the pan-Asian investment arm of IGIS Asset Management, South Korea's largest real estate investment manager, announced a partnership with CHA Bio Group ("CHA"), one of South Korea's largest and oldest biopharma groups with a global presence, to form a new Asia-Pacific life science real estate investment platform.

The venture aims to provide best-in-class life science real estate for R&D, manufacturing, and other supporting services to a diverse range of companies in the Asia-Pacific region, including metropolitan cities in South Korea, ranging from biotechnology incubators to multinational pharmaceutical groups. To gain a first-mover advantage in providing life science real estate solutions in South Korea and abroad, the partnership will rely on IGIS's past track record of real estate transactions and CHA's expertise in the life sciences industry.

IGIS and CHA see the venture as a catalyst for the Asia-Pacific region's robust growth in the life sciences sector. In order to respond to rapidly changing demand and multifaceted market challenges, the venture will develop and invest in high-quality life science assets in Asia-Pacific, such as R&D and manufacturing facilities, hospitals, medical offices, and other healthcare centres. Furthermore, IGIS intends to establish the Korea Life Science Investment Platform ("KLSIP"), the first Korea-focused investment vehicle on life science real estate, in order to energise the venture with capital to develop facilities that meet the demands of South Korea's growing life science industry.