KUALA LUMPUR: Bandar Raya Developments Bhd (BRDB) is selling its “CapSquare” office Tower 2 (OT2) to Germany-based Union Investment Real Estate Aktiengesellschaft (UIRE) for RM439.3 million to unlock the value of the asset. Proceeds from the all-cash deal will be used to finance other components of CapSquare, a RM2 billion mixed project on a 6.1-hectare freehold site in Jalan Munshi Abdullah and Jalan Ampang.
(9-1-2008 The Edge)
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