KUALA LUMPUR: Bandar Raya Development Bhd (BDRB) has found a European buyer for Office Tower 2 (OT2), which has been left uncompleted since 1997, for RM439.3mil. Analysts said such en bloc sales would normally help ease a property developer's cashflow and it need not have to worry about cash being tight in unsold units when the project was completed. Union Investment is an international investment management company specialising in open-ended real estate funds for private and institutional investors. It has assets under management amounted to 11.6 billion euros and has expanded into 12 new markets, including Japan, Singapore, Mexico and Hungary.
(8-1-2008 The Star)
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