MGRV focuses on developing and supplying high-quality rental housing aimed at one- and two-person households, serving both Korean nationals and expatriates in central Seoul. The company is executing multiple projects in partnership with the Canada Pension Plan Investment Board (referred to in the article as the Office of Investment of the Canada Pension Plan). Three months after signing a ₩500 billion joint investment agreement with CPPIB, MGRV has secured four new development sites and, with a recent land purchase in Seongdong-gu, now controls five active projects. Its business model emphasizes a 100 % equity approach to land acquisition, which the firm says underpins a stable balance sheet and rapid decision-making. Management is evaluating additional sites in key Seoul districts to expand its pipeline. CEO Cho Kang-tae states that the firm will continue to scale sustainable, high-quality urban housing supply through its CPPIB collaboration. Financially, the company has just closed a ₩13 billion follow-on funding round led by existing investors, reinforcing market confidence in its strategy.

Total raised

$9M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2025