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.