TMW Asia Property Fund, which is based in Germany, is selling three of its shopping complexes in Malaysia which it purchased in 2005 for an estimated RM500 million- The shopping complexes are Ipoh Parade in Perak, Klang Parade in Selangor and Seremban Parade in Negri Sembilan- International property consultant Rahim & Co, which has been appointed as the exclusive agent to handle the deal, declined to comment when contacted- The fund is managed by Pramerica, the real estate investment management business of Prudential Financial Inc from the US- It is understood that the closing date for the tender is tomorrow- It is unclear how many bids have been submitted, but sources said that the tender had attracted interests from abroad- The fund bought the three properties - under the operating companies Lion Klang Parade Sdn Bhd, Lion Seremban Parade Sdn Bhd and Lion Ipoh Parade Sdn Bhd - for RM340 million in 2005 from the Lion group- According to previous reports, Seremban Parade has a nett lettable area of 316,847 sq ft and sits on 1-97ha, Ipoh Parade has a nett lettable area of 594,414 sq ft on 4-14ha, and Klang Parade has 696,045 sq ft space- Once the tender date is closed, bids are likely to be narrowed down to a couple, before proceeding to the next stage-...

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