Rodamco invests in Asia

Rodamco invests in Asia

ROTTERDAM (Reuter): Property fund Rodamco NV said it had invested a total of more than 155 million guilders in two acquisitions in the Philippines and Thailand.

In the Philippines, Rodamco acquired a 20 percent stake in an office building which is being built in Manila. Earlier yesterday Kuok Philippine Properties Inc reported Rodamco had taken a stake in the building's project developer in which Kuok is one of the other partners.

Rodamco said it had also taken a 49 percent stake in an apartment building which is being constructed near the business center of the Thai capital of Bangkok.

The acquisitions were made by the group's Rodamco Pacific division which has previously made investments in property in Australia, China, Indonesia and Malaysia.