19th Jul 2007 08:00
Aseana Properties Limited19 July 2007 Date: 17 July 2007On behalf of: Aseana Properties Limited ("Aseana" or "the Company") Aseana Properties Limited• SENI Mont' Kiara raises bar for premium living in Mont' Kiara Aseana Properties Limited (LSE: ASPL), an Asian property developer investing inMalaysia and Vietnam, today announces that the first phase of its SENI Mont'Kiara development in Kuala Lumpur, Malaysia is being made available for sale tothe public from 21 July 2007. The new condominium, which comprises a 40-storey tower and a 12-storey low-riseblock named Van Gogh and Monet respectively, is being developed by Aseana inpartnership with CapitaLand Financial Limited, the financial services arm ofCapitaLand, one of the largest listed real estate companies in Asia. The projectis being managed by Ireka Development Management Sdn Bhd. SENI Mont' Kiara sits on an 8.83-acre freehold plot over the Mont' Kiara hills.With proven rental yield and return on investment, Mont' Kiara is a preferredlocation for expatriates, the young and affluent professionals because of itsexcellent road network and infrastructure, CCTV-covered streets and its closeproximity to international schools, prestigious golf and equestrian clubs andshopping district. Other developments under the current property portfolio of Aseana PropertiesLimited such as i-ZEN@Kiara and Tiffani by i-ZEN have received encouragingresponses with sales recorded at 97 per cent and 77 respectively. Its integratedcommercial development ONE Mont' Kiara bz-hub has so far seen a 99 per centtaken up. Commenting on the development, Lai Voon Hon, President and CEO of IrekaDevelopment Management Sdn Bhd, said: "SENI Mont' Kiara comprises 605luxuriously crafted units, ranging from 2,336 to 7,000 square feet. The wholeset-up, from its aesthetically pleasing design, wonderful views and the centralcourtyard, to the signature cafe and art gallery, which doubles up as anactivity centre, aims to define quality living and we hope it will become thebenchmark for fine living in the region." Enquiries:Aseana Properties Limited Contactable via Redleaf Redleaf Communications Tel: 020 7822 0200Emma Kane / Samantha Robbins / Paul Dulieu Email: [email protected] Fairfax I.S. PLC Tel: 020 7598 5368James King Notes to Editors • Ireka Development Management, the 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. • The Company will typically invest in development projects at the pre-construction stage, with a primary focus on location within the major cities of Malaysia and Vietnam. • Investment will be made in projects where it is believed there will be a minimum 30% annualised return on equity ("ROE") on investments in Vietnam and a minimum 20% ROE on investments in Malaysia. • No one underlying single asset will account for more than 30% of the gross assets of the Company at the time of investment. • It is the intention that the Net Proceeds of the Placing will be fully invested in accordance with the investment policy within 12 months of Admission. • The Directors believe the following factors should provide sustainable growth in the real estate sectors of both Malaysia and Vietnam: • An increasing standard of living and urbanisation driven by a burgeoning young and middle class population • Clear Government role in encouraging participation of private sectors in real estate development, as well as encouraging and promoting land and property ownership • Improving availability of mortgages to encourage property ownership • Favoured Foreign Direct Investment (FDI) destinations driving demand for commercial and industrial properties About Seni Mont' Kiara SENI Mont' Kiara is developed by Aseana Properties Limited's Amatir ResourcesSdn Bhd, in collaboration with CapitaLand Financial Limited, the financialservices arm of CapitaLand, one of the largest listed real estate companies inAsia, with core businesses in real estate, hospitality and real estate financialservices. Aseana Properties Limited is a company listed on the Main Market of London StockExchange. It has a market capitalisation of some RM900 million as at 10 July2007 and focuses on investment property developments in Malaysia and Vietnam. Drawing from the synergies derived from the Ireka Group of Companies' extensiveexperience in property development and construction, the creator of the muchcelebrated i-ZEN, Ireka Development Management Sdn Bhd, the exclusive manager ofAseana Properties Limited, will continue to deliver more of i-ZEN's finessethrough its exclusive lifestyle creations. About CapitaLand Group CapitaLand is one of the largest listed real estate companies in Asia.Headquartered in Singapore, the multinational company's core businesses in realestate, hospitality and real estate financial services are focused in gatewaycities in Asia Pacific, Europe and the Middle East. The company's real estate and hospitality portfolio spans more than 90 cities inover 20 countries. CapitaLand also leverages on its significant real estateasset base, financial skills and market knowledge to develop real estatefinancial products and services in Singapore and the region. The listed subsidiaries and associates of CapitaLand include The Ascott Group,CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetailChina Trust, Quill Capita Trust and Australand. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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