Groundbreaking Ceremony in Vi

RNS Number : 4590F

Aseana Properties Limited

09 October 2008

 

Date:                    9 October 2008

On behalf of:        Aseana Properties Ltd

Aseana Properties Limited

• Groundbreaking Ceremony to launch Vietnam's Integrated, World-Class Healthcare Park 

Aseana Properties Limited (LSE: ASPL), a leading Asian property developer on the Official List of the London Stock Exchange, today announces a Groundbreaking Ceremony to launch the development of the International Hi-Tech Healthcare Park ('the Healthcare Park') in the Binh Tan District of Ho Chi Minh City, Vietnam. Aseana has a 51% stake in Hoa Lam-Shangri-La Healthcare Limited Liability Company ('Hoa Lam-Shangri-La'), the company undertaking the development of the Healthcare Park.* Ireka Development Management Sdn Bhd (a wholly-owned subsidiary of Malaysia-listed Ireka Corporation Berhad) has been appointed by the Board of Aseana, to act as the Development Manager responsible for the planning, developing and marketing activities of the Healthcare Park. 

The 'Medical City' will have private tertiary care and teaching hospitals, research centres, medical institutes, commercial and retail components as well as supporting service residences and other community facilities within a land area of 37.54 hectares (approximately 93 acres or 375,000 sq m). 

*This 51% acquisition in the development of the Park was previously announced via RNS on 27 August 2008.

Dato' Mohammed Azlan bin Hashim, Chairman of Aseana Properties Limited said:

'We are pleased to jointly develop the International Hi-Tech Healthcare Park together with Hoa Lam-Shangri-La. The Healthcare Park stems from the vision of our local partner, Madam Tran Thi Lam of Hoa Lam Group as well as the foresight of the respectable leaders of Ho Chi Minh City's People Committee. This integrated Healthcare Park will not only meet the acute shortage of quality and world-class medical facilities, but will also further encourage the development of medical professionals within Vietnam. This development is truly a landmark venture as it not just an achievement for all the business partners, but a major milestone in the healthcare industry for Vietnam.' 

At the groundbreaking ceremony of the International Hi-Tech Healthcare Park, Chairman of Hoa Lam-Shangri-La Healthcare Limited Liability Company, Madam Tran Thi Lam said:

'I'm delighted to note that with the support from the Government of Vietnam, together with several foreign investment partners, we have come together to make the vision of an International Hi-Tech Healthcare Park in Ho Chi Minh City a reality. Indeed, this mutually-beneficial partnership will not only attract local and foreign investments, but will serve both the healthcare needs of the expatriate community working in Vietnam and also the nearly 85 million population of Vietnam as well as the region. Healthcare is definitely top of the agenda for Vietnam, as one of the world's fastest growing economies.'

-Ends-

Enquiries and Publication Quality Photographs:

Aseana Properties Ltd	Via Redleaf Communications
Redleaf Communications	Tel: [phone]
Samantha Robbins / Adam Leviton / Kathryn Hurford	Email: [e-mail]
Fairfax I.S. PLC	Tel: [phone]
James King

Notes to Editors

About Aseana

• Aseana Properties Limited ('Aseana'), www.aseanaproperties.com, a leading property development company listed on the Main Market of London Stock Exchange, was established to take advantage of the upmarket segment of property development opportunities in Vietnam and Malaysia. 

• Ireka Development Management, the Development Manager, is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has 40 years of experience in construction and property development.

• Aseana's current property investment projects include Tiffani by i-ZEN, one Mont' Kiara, SENI Mont' Kiara, Sandakan Harbour Square (Phase 3 & 4), Telekom Mont' Kiara, Kuala Lumpur Sentral Project as well as several developments in Ho Chi Minh City, Vietnam including; Horizon Place (District Four) and the Wall Street Centre (District One). Some of the completed projects undertaken by Ireka previously include i-ZEN@Villa Aseana, i-ZEN@Kiara II, i-ZEN@Kiara I, Luyang Perdana (Kota Kinabalu) and Sandakan Harbour Square (Phase 1 & 2). 

• The Company typically invests in development projects at the pre-construction stage, with a primary focus on locations within the major cities of Malaysia and Vietnam.  

About Hoa Lam-Shangri-La

• Incorporated in Vietnam, Hoa Lam-Shangri-La Healthcare Limited Liability Company ('Hoa Lam-Shangri-La') www.hoalam-shangrila.com is a 30:70 joint venture between Hoa Lam Services Co. Ltd. (Vietnam) and Shangri-La Healthcare Investment Pte. Ltd. (Singapore). Hoa Lam-Shangri-La will be undertaking the development of the International Hi-Tech Healthcare Park in Ho Chi Minh City, Vietnam. 

About The International Hi-Tech Health Park

• Set to be the premier international healthcare development that features a complete, fully-integrated healthcare environment for patients and medical professionals. The development of the Healthcare Park is expected to span over a period of 9 years.

• The Healthcare Park will have private tertiary care and teaching hospitals, research centers, medical institutes, commercial and retail components as well as supporting service residences and other community facilities.

•  The development of the International Hi-Tech Healthcare Park was licensed and approved by the People's Committee of Ho Chi Minh City on 10 July 2008. The proposed International Hi-Tech Healthcare Park will address the current shortage of world-class, comprehensive healthcare services and facilities in Ho Chi Minh City, serving its estimated 8 million populations as well as the region.

• The International Hi-Tech Healthcare Park spans over a land area of 37.54 hectares (approximately 93 acres or 375,000 m2) and is located in the Binh Tan District, just 10 km (or 30 minutes) away from the heart of Ho Chi Minh's Central Business District (District 1). The site is also easily accessible, with a direct highway link to Tan Son Nhat International Airport.

 

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