Korea’s Songdo International Business District – One of Asia’s Largest Green Developments – Surpasses Milestone of 13 Million Square Feet of LEED Certified Space

NEW YORK, N.Y. and INCHEON, South Korea – June 26, 2012 – (RealEstateRama) — Songdo International Business District (IBD) today announced that it has achieved a total of 13.7 million square feet of LEED certified space, establishing itself as one of the world’s most ambitious LEED developments. Songdo IBD, a 1,500-acre new city on the coast of Incheon, South Korea, is setting new standards for sustainable urban development in South Korea and Asia.

Songdo IBD is being developed by NSIC, a joint venture between New York developer Gale International and Korean construction firm POSCO E&C, under the governance of the Incheon Free Economic Zone Authority. The U.S. Green Building Council’s LEED (Leadership in Energy and Environmental Design) green building program is the foremost program for the design, construction and operation of green buildings.

The 13.7 million SF figure represents nine projects within Songdo IBD that have set firsts in both Korea and Asia. These include: The First LEED-certified Exhibit Hall in Asia (Convensia Convention Center) – The Convensia is also the first building in Korea over 1,000 square meters to achieve this prestigious certification of sustainable design. The First LEED-certified Residential Tower in Korea (Central Park I) The First LEED-certified Hotel in Korea (Sheraton Incheon) The First LEED-certified School in Korea (Chadwick International School)
Among the recent Songdo projects to gain certification is the 1.33M SF International Business Square office complex that achieved a rating of LEED Gold.

Songdo IBD’s LEED plans include another 26 registered projects equaling about 40 million SF of program area. Indeed, Gale International is targeting LEED certification for 80% of the buildings it develops within Songdo IBD. According to the USGBC, currently there are a total of 441 LEED–certified projects in Asia overall representing nearly 211 million SF.

“Songdo IBD was designed to be a model for future, sustainable city-scale developments not only in Asia but across the globe,” said Stan Gale, chairman of NSIC and of Manhattan-headquartered Gale International. “We have made a full commitment to be a LEED champion, which has meant everything from overseeing the first translations of USGBC documentation into Korean to helping train third-party design/build partners in Songdo.”

“With the recent certification of its ninth LEED project, Songdo IBD is making its vision of high-performance, energy-efficient, healthy green buildings a reality,” said Rick Fedrizzi, President, CEO and Founding Chair, USGBC. “We commend Songdo for its extraordinary, inspirational accomplishments.”

About Songdo IBD
The $35 billion Songdo International Business District (IBD) is being built on 1,500 acres of reclaimed land along the Yellow Sea in Incheon, South Korea, by Gale International, a premier international real estate investment and development company headquartered in New York, and POSCO E&C of Korea. Songdo IBD, the largest private real estate venture in history, will include forty million square feet of office space, thirty-five million SF of residential space, ten million SF of retail, five million SF of hotel space and ten million SF of public space. When completed in 2017, Songdo IBD will be home to 65,000 residents and 300,000 people will commute in daily. Currently, 22,000 people reside in Songdo IBD and by year-end that number will grow to more than 27,000. More than 25,000 people now work in Songdo IBD’s commercial spaces. Songdo IBD is a model for sustainable city-scale development—it is one of Asia’s largest green developments and has established itself as a world leader in LEED (Leadership in Energy and Environmental Design) with 13.7 million SF of LEED-certified space to date. More than 50% of Songdo IBD’s built environment is complete including such core components as the Convensia Convention Center; the Sheraton Incheon; the 100-acre Central Park (modeled after New York’s); numerous residential and commercial projects including more than 350 retail stores; Chadwick International School; and the Jack Nicklaus Golf Club Korea. The iconic 68-story Northeast Asia Trade Tower (NEATT), South Korea’s tallest building, is scheduled for completion in 2013. Songdo IBD also is the leading example of a “ubiquitous city” in which technology is pervasive and all systems are linked. It has partnered with Cisco to provide TelePresence immersive videoconferencing in homes, offices, schools and hospitals, among other digital initiatives. For more information see songdo.com.

About Gale International
Gale International is a premier international real estate investment and development company with headquarters in New York and offices in; California; Shanghai; and Songdo, South Korea. For more information please visit www.galeintl.com.

About U.S. Green Building Council (USGBC)
The U.S. Green Building Council (USGBC) is committed to a prosperous and sustainable future for our nation through cost-efficient and energy-saving green buildings. With a community comprising 79 local affiliates, nearly 16,000 member organizations, and more than 174,000 LEED Professional Credential holders, USGBC is the driving force of an industry that is projected to contribute $554 billion to the U.S. GDP from 2009-2013. USGBC leads an unlikely diverse constituency of builders and environmentalists, corporations and nonprofit organizations, elected officials and concerned citizens, and teachers and students. For more information, visit usgbc.org, Twitter, Facebook and LinkedIn.

About LEED
The USGBC’s LEED green building certification system is the foremost program for the design, construction and operation of green buildings. Over 43,000 projects are currently participating in the commercial and institutional LEED rating systems, comprising nearly 8 billion square feet of construction space in all 50 states and 120 countries. In addition, nearly 15,000 homes have been certified under the LEED for Homes rating system, with more than 65,000 more homes registered.
By using less energy, LEED-certified buildings save money for families, businesses and taxpayers; reduce greenhouse gas emissions; and contribute to a healthier environment for residents, workers and the larger community. Learn more at usgbc.org.

Contact:
Mary Lou DiNardo Gale International/International and U.S. Queries +1 212 909-0340
Hyewon Chang Gale International Korea/Domestic ROK Queries +82 2 6260-3353