Operations and Market Review
Overseas - Vietnam

Residential Villas Ho Chi Minh City Riviera Cove, District 9 Riviera Cove is Keppel Land's second villa development in Ho Chi Minh City (HCMC) after Villa Riviera. Located in District 9, Riviera Cove is close to the Rach Chiec Sports Complex and the Saigon Sports City integrated development. Riviera Cove offers 96 resort-style villas with facilities including a clubhouse, a swimming pool, tennis court, 24-hour security and full-power backup. A river promenade will be constructed to allow residents to stroll along the 280-m frontage of the Rach Chiec River. Riviera Cove was launched in November 2009. About 92% of the 60 launched units were sold as at end-February 2010. The final batch of villas would be released in March 2010. Waterfront Villa Development, District 12 This waterfront villa development is the third joint venture project between Keppel Land and local developer Tien Phuoc. The subject site is adjacent to Binh Duong Province and is accessible by National Road No.1A, a six-lane trans- Vietnam highway. The development is close to the Hanh Phuc International Women and Children Hospital managed by Thomson International Healthcare. Situated on a 11.3-ha site fronting the Saigon River in District 12, this gated development will yield 175 waterfront villas. Targeted at well-to-do locals and expatriates, especially those working in industrial parks in Binh Duong, the first phase of this villa development is expected to commence sales in 2011. Condominiums Ho Chi Minh City The Estella, District 2 Keppel Land's maiden luxury condominium development in HCMC is situated on a 4.8-ha site along Hanoi Highway in the affluent An Phu Ward. This 1,393-unit development with supporting commercial space has a comprehensive range of facilities including a private clubhouse, a 50-m swimming pool and tennis courts in lush surrounds. Full power backup and 24-hour security are provided for added peace of mind. An initial release of 518 units in Phase 1 was launched in 2008 while another 121 units were released in 2009. About 67% of the 639 launched units were sold as at end-February 2010.		The Estella is the first property in Vietnam to be conferred the Green Mark Gold award by the Building and Construction Authority of Singapore.
Riviera Point, District 7 Riviera Point sits on a 8.5-ha site just a 15-minute drive from HCMC's city centre. Besides being near the Franco- Vietnam Hospital, Riviera Point is within walking distance to four international schools and the Royal Melbourne Institute of Technology, Vietnam. This 2,400-unit waterfront development features residential towers above a shopping arcade. A high-end retail and restaurant belt runs along the 500-m river promenade offering residents alfresco dining choices. A full array of recreational facilities coupled with 24-hour security and full power backup make Riviera Point a choice home. Riviera Point is separated from the established Phu My Hung (PMH) township only by the Ca Cam River, thus allowing residents easy access to the amenities in PMH. Construction and launch of the first phase are expected to commence in the second half of 2010. Condominium Development, District 2 This waterfront luxury condominium with supporting commercial space is located close to the Thu Thiem New Urban Area, an upcoming township earmarked as the new downtown to complement HCMC's CBD. The site has direct access to the East-West Highway. With the recently completed Thu Thiem Bridge and the upcoming Saigon River Tunnel, travelling time to the CBD will be shortened to about 10 minutes. This high-rise development will yield about 1,500 units set in modern tropical ambience. Residents will be able to enjoy a quality lifestyle enhanced by a comprehensive range of facilities including a clubhouse, a swimming pool, tennis courts, 24-hour security and full power backup. Other Residential Developments Due to certain conditions precedent not being fulfilled, Keppel Land will not proceed with three joint venture residential developments in HCMC. These include a waterfront condominium development in Binh Thanh District as well as a gated villa project and a condominium development, both of which are located in District 9. The discontinuation of these projects will not affect Keppel Land's strategy and operations in Vietnam.
Riviera Cove was positively received, with 92% of 60 launched units sold as at February 2010.

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