The company also sought financial backing and support from the Morgan Stanley financial institute, The Woori Bank, a local Korean financial institution, as well as ABN AMRO Bank, Bank of Nova Scotia and other investors.
Despite the promising location and the plans for development the New Songdo City was receiving criticism from the local and the international bodies as identified by the case. These criticism were based on the fact that the wild life in the region was going to displaced as a result the developmental projects moreover the modern city of New Songdo City which was going to be built from scratch on an empty land would not be having the same charisma, feeling and the cultural tradition and heritage that the other metropolitan cities of London, Boston, Paris, New York, Beijing, Shanghai, Hong Kong, Seoul, Tokyo and Singapore had. Moreover the New Songdo City project is an extensive project which would require the dedication of Hynes for more than about 10 years and even more time for the region to start providing financial results in terms of return on investment for the investors. Due to these constraints and the realities of the project even the people at the Gale Company are reserved about the New Songdo City project.
These are model essays please place an order for custom essays, research papers, term papers, thesis, dissertation, case studies and book reports.