While the finishing touches are being put to the two-tower Pavilion Residences, the owner of one of these towers is getting ready to sell the luxury condo units in what is described as a “depressed market”.IMMO Pavilion, a German investment services group that acquired Tower 1 en bloc in 1H2008, believes it is the right time to sell as it sees confidence returning to the market. The towers, which have 368 condo units, sit atop a 7-storey retail podium that houses the Pavilion KL shopping mall on Jalan Bukit Bintang in Kuala Lumpur. The towers and mall are part of the 12.6-acre leasehold Pavilion Kuala Lumpur urban development project. The project has a gross development value of over RM3 billion and also features a 19-storey office tower and a 180-room boutique hotel.The owner of Tower 2 is international financier Kuwait Finance House (KFH), which previously held a 49% stake in the entire Pavilion KL development through Baitak Asia Real Estate Fund, a joint venture between KFH and