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Kuok Brothers Group And Khazanah In Joint Venture To Develop 12.5 Acres of Land In Nusajaya

Kuala Lumpur, 22 April 2013 – UEM Land Berhad (“UEM Land” or the Company”) a wholly-owned subsidiary of UEM Land Holdings Berhad (“ULHB”) today entered into a Sale and Purchase Agreement (“SPA”) with Southern Marina Development Sdn Bhd (“Southern Marina”) – a 70:30 joint venture company between the Kuok Brothers Group and Khazanah Nasional Berhad (“Khazanah”) for the sale of 12.5 acres of land known as TM2 and TM3 for a total cash consideration of RM182.0 million. The land parcels are located in Puteri Harbour, Nusajaya which is one of the five flagship zones of Iskandar Malaysia, Johor.

ULHB has adopted a strategy of having developments within Nusajaya built by multiple world class developers to create a vibrant and diversified skyline. The sale of these parcels is another step towards achieving this objective. The participation of other developers will also help accelerate the momentum of developments in Puteri Harbour which will in turn generate economic activities to benefit ULHB’s remaining lands in Nusajaya.

The proposed development by Southern Marina will comprise a mix of high-rise residential and retail/commercial units, taking advantage of its prominent waterfront location with views of the marina and Straits of Johor. One of the key highlights is the establishment of a retail promenade overlooking the waterfront, offering visitors and residents a pleasant and memorable shopping experience. The development will have a gross floor area of more than 2 million square feet, and an estimated gross development value exceeding RM1 billion.

Dato’ Wan Abdullah Wan Ibrahim, Managing Director/Chief Executive Officer of ULHB said: “With the participation of a strong partner like Southern Marina, we are confident that Puteri Harbour is on track to being a world-class integrated waterfront and marina development which will play a pivotal role in being a catalyst for making Nusajaya a dynamic, vibrant and liveable city for all,” he said.

Datuk Oh Siew Nam, a director of Kuok Brothers and Chairman of PPB Group Berhad said, “We are excited to have a presence in Puteri Harbour, Nusajaya and the opportunity to participate in the on-going development of Iskandar Malaysia. The tremendous progress achieved in Iskandar Malaysia, and especially Nusajaya over the last few years is remarkable. We are confident that the good infrastructure, facilities and connectivity will continue to attract strong interest from local and international investors into Iskandar Malaysia.”

Khazanah Managing Director, Tan Sri Azman Hj Mokhtar said: “We are delighted with this opportunity to work together with the Kuok Brothers Group in Iskandar Malaysia as the region develops progressively into the next phase of growth. “A vote of confidence from reputable conglomerates such as the Kuok Brothers Group will only help to catalyse further investing interest for the continued progress and ultimately, the success of Iskandar Malaysia,” he added.

Puteri Harbour is an integrated urban waterfront and marina development that offers panoramic view of the Straits of Johor. Located adjacent to Kota Iskandar, it offers a unique luxurious lifestyle community with exceptional waterfront living – an ideal location for global or regional commerce and events, with state-of-art facilities and a business-friendly environment that will create world-class personal or business investment opportunities.