LAS VEGAS (March 20) - Pamela Anderson has bought a condo at a $1 billion luxury high-rise under construction just west of the Las Vegas Strip, its developer said Monday.

The former "Baywatch" star purchased a 2-bedroom penthouse unit with more than 2,000 square feet and views of the Strip facing north, south and east, said Laurence Hallier, chairman of Hallier Properties LLC, which is developing Panorama Towers. Similar units sell for more than $2 million, he said.

"Spiderman" actor Tobey Maguire and "The Aviator" star Leonardo DiCaprio also are reported to have bought into the development, the first tower of which is expected to be complete by midsummer.

Hallier said confidentiality clauses prevented him from disclosing his list of celebrity clients, although Anderson did not impose such a restriction.

Anderson, who visits Las Vegas about six to eight times a year, bought a unit in Tower 4, which won't be ready until late 2008, Hallier said.

"She lives in Malibu. So for now she's fine," he said.

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