MEDIA RELEASE

SENTOSA COVE AWARDS ICONIC LANDMARK CONDOMINIUM TENDER TO CDL-TID JOINT VENTURE
Winning Design Selected From 15 proposals

Singapore, 13 May 05 – Sentosa Cove has awarded its coveted condominium site to a City Developments Ltd (CDL) and TID Pte Ltd joint venture. TID Pte Ltd is a partnership between Hong Leong Holdings and Japan 's leading real estate company, Mitsui Fudosan.

A total of 15 design proposals from 10 tender bids were submitted on 26 April 2005.

CDL-TID's winning bid features a design concept by the internationally renowned Wimberly Allison Tong & Goo (WATG). CDL-TID's bid price was $238,890,000 or $484.69psf per plot for the 197,149.4 sq ft site with a plot ratio of 2.5.

"We are very pleased with the level of interest in the site, which is manifested in the extremely high standards of design concepts as well as the unprecedented number of quality bids in terms of price", Ms Jennie Chua, Chairman of Sentosa Cove, said.

"We are confident that the iconic design will capture the imagination of all approaching Singapore from the South, a definitive criterion in our decision to award the site to the CDL-TID joint venture. The stunning condominium will be a new benchmark for high-rise oceanfront living," Ms Chua added.

Sited at the entrance to its multi-million dollar mega-yacht marina, the new development is envisioned to shape and redefine the skyline as seen from the sea-ward approach to the south-eastern tip of Singapore . This condominium will be a landmark on the island skyline in a predominantly low-rise landed community.

With a maximum permissible height of fifteen storeys, the development – which is expected to yield about 270 condominium units – will offer unobstructed panoramic views of the sea, Southern Islands and beyond. Currently, no other private or public housing in Singapore commands such spectacular views in close proximity to the sea.