ING eyes Lehman’s properties

September 25th, 2008 - 11:13 am ICT by Amrit Rashmisrisethi  

ING Funds (Thailand) is interested in purchasing local property assets of the bankrupt US investment house, Lehman Brothers, said managing director Mr. Maris Tarab.

Lehman controls commercial properties in Bangkok worth an estimated 50 billion baht, including grade-A properties such as the Italian-Thai Building, Pacific Place on Sukhumvit Road, Mercury Tower and the Muang Thai Phatra Building.

Mr Maris said any investment would be structured through a property fund, adding major developers such as Land and Houses Plc could have an advantage in any sale due to their greater liquidity.

ING, a subsidiary of ING group in Netherlands, is the country’s largest property fund manager, with assets worth 12 billion baht under its management.

Source : National News Bureau, Public Relations Department of Thailand

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