26 September 2006, Singapore – GuocoLand has today been awarded an Investment Licence from the Ministry of Planning and Investment (“MPI”) to build a 240,000 square metre mixed development project on a 17.5 hectare site in Binh Duong Province, 17km north of Ho Chi Minh City, Vietnam’s main business city.

GuocoLand’s vision for the site is to create an Integrated Hub for Binh Duong Province. Comprising residential, retail, entertainment, sports and other commercial facilities, the Hub will generate vibrancy and bring life to the area, allowing residents and visitors to live, work, play and shop in a single destination.

A highlight of the project will be a major shopping and entertainment complex, which would house international and local brands anchored by a hypermarket and family entertainment.

The project will also offer quality homes for people living and working in Binh Duong. With its experience in delivering quality residential developments in Singapore and the region, GuocoLand intends to set new standards in design and facilities for the commercial and residential markets in Vietnam.

It is intended for the project to be developed in phases with the first phase scheduled for completion by 2009.

This project represents a first step in GuocoLand’s plans to establish itself as a leading property developer in Vietnam.

“As part of our vision to be a premier regional property developer, GuocoLand has, over the years, established a strong presence in Singapore and the regional markets of China and Malaysia. We have identified Vietnam as our new growth market and our investment in Vietnam is an extension of that strategy and a firm signal of our commitment towards Asia which we believe will be a key driver of global growth in the next five years,” said Mrs Trina Loh, Managing Director of GuocoLand Singapore.

Minister Vo Hong Phuc of MPI presented the Investment Licence to Mrs Loh. The presentation took place at the 10th Anniversary Ceremony of the Vietnam Singapore Industrial Park, which was graced by Guests of Honour, Mr Nguyen Tan Dung, Prime Minister of Vietnam and Mr Lee Hsien Loong, Prime Minister of Singapore.