Keppel Land completes acquisition of site for its first waterfront residential cum marina development in China

Keppel Land Limited (Keppel Land) has acquired an additional 66 hectares of a waterfront site in Zhongshan, Guangdong Province of China. This will be Keppel Land's first waterfront residential cum marina development in China and covers a total area of 86 hectares.

Keppel Land had first announced in April 2008 its interest to develop premium waterfront homes in the affluent Pearl River Delta region of Zhongshan, located on MoDao Island in the Shenwan Town of Zhongshan City. Carried out in phases, the acquisition was done through Sunseacan Investment (HK) Company Limited, of which Keppel Land has an 80% stake through its wholly-owned subsidiary, Sunsea Yacht Club (Zhongshan) Co., Ltd.

Mr Ang Wee Gee, Executive Director and CEO (International) of Keppel Land International Limited, said, "Prime waterfront homes are highly sought after in China and Keppel Land is confident that these luxury homes, enhanced by our integrated lifestyle concept, will be well received by homebuyers and investors alike.

"With the increasing affluence of the Chinese, local homebuyers are becoming more discerning, such that owning a home is beyond the brick and mortar and involves the consideration of status, lifestyle and other value propositions associated with the development."

When completed, the development will yield about 2,000 luxurious villas with private berths, condominium units and serviced apartments. The total development cost for the first phase is estimated to cost about RMB 1.1 billion (S$225 million).

For a luxurious and complete waterfront lifestyle, approximately 30% of the total land area will be used to create channels and waterways for private berthing of about 550 boats, a clubhouse, a sailing academy and comprehensive recreational facilities for a marina lifestyle.

Part of the fast-growing Pearl River Delta region, Zhongshan has grown in affluence over the last two decades and maintained healthy economic growth. In 2009, the city achieved a Gross Domestic Product of US$23 billion (RMB 156 billion), registering a double digit year-on-year increase.

With its proximity to Hong Kong, Southern China has also witnessed a rising trend in the luxury boating industry. It has hosted prestigious international boating shows in recent years, such as the China (Shenzhen) International Boat Show in 2009, which saw RMB 250 million worth of deals being inked. In addition, Shanghai was the choice venue for the annual Christofle Asia Boating Awards in 2008.

Targeted at the upper-middle income segment, launch for the first edition of waterfront homes is expected in early-2012 and will feature luxurious villas of various sizes in excess of 400 square metres. Construction is scheduled to commence in phases from end-2010.

Fronting the Xijiang River, the integrated development is about 35 km, or a 20-minute drive to Zhongshan's city centre and is well-connected by air, sea and land infrastructure. It has access to six international and domestic airports within a 100-kilometre radius, a well-established network of ferry services to Hong Kong and Macau as well as a convenient network that links to major expressways.

With the completion of the Guangzhou-Zhuhai intercity rail link by end-2010, travelling time between Zhongshan and Guangzhou will be reduced to less than 30 minutes. Accessibility will be further enhanced when the Hong Kong-Zhuhai-Macau Bridge is completed by 2016.

For more information, please contact:
Catherine Tan (Ms)
Senior Executive
Keppel Group Corporate Communications
Tel: (65) 6413 6435
Email: catherine.tan@kepcorp.com

About Keppel Land

Keppel Land Limited is the property arm of the Keppel Group, one of Singapore's multi-national groups. The Company is one of the largest property companies by total assets on the Singapore Exchange.

One of Asia's premier property companies, Keppel Land is recognised for its sterling portfolio of quality award-winning residential developments and investment-grade commercial properties, and high standards of corporate governance and transparency.

Keppel Land is geographically diversified in Asia and has a strategic focus on two core businesses of property development and property fund management. Its portfolio in China comprises residential, integrated township and resort properties across 10 cities. The Company has a current pipeline of more than 40,000 homes in China.

In Singapore, Keppel Land is a premier developer with world-class iconic waterfront homes at Keppel Bay and Marina Bay.

Presenting the best in waterfront and urban lifestyles, Keppel Bay comprises the FIABCI-award winning residences Caribbean at Keppel Bay, Reflections at Keppel Bay designed by master architect Daniel Libeskind and the world-class Marina at Keppel Bay. When fully developed, Keppel Bay will yield a total of 2,600 luxurious waterfront homes.

Marina at Keppel Bay is the first marina in Asia to be awarded the 5 Gold Anchors rating from the Marina Industries Association of Australia (MIAA) for excellence in services and facilities. It was named Best Asian Marina and Best New Asian Marina at the Asian Boating Awards 2010 and 2008 respectively. Marina at Keppel Bay is also the only marina in Asia to be awarded the Clean Marina certification by MIAA.

Strategically located in Singapore's new downtown, Marina Bay Financial Centre is a world-class integrated mixed-use development offering Grade A office spaces and luxurious apartments and penthouses that fulfil the "live-work-play" vision at Marina Bay.