Rodamco Asia has sold the office-complex Joong Ang Building in Seoul in South Korea to the Ewha School Foundation for KRW 27.2 billion (EUR. 20.5 million).
Rodamco announced the news today. A Rodamco spokesperson said the net price (after deduction of transaction costs) of EUR. 20,5 million equals a profit of 20% on the purchasing price in July 2001.