PHU YEN, VIETNAM  - 9 July 2024 - The Indochina Kajima Development Company Limited (Indochina Kajima) is delighted to announce that Mandarin Oriental, Bai Nom has been awarded its construction permit from the Department of Construction - the People's Committee of Phu Yen Province on June 11, 2024. This marks a significant milestone in Indochina Kajima's development of the ultra-luxury resort in Vietnam.

Mandarin Oriental, Bai Nom will be an exclusive resort and branded residences project situated in Phu Yen Province along a naturally stunning and pristine beachfront site. The masterfully designed resort will feature 72 villas and pavilions, including 25 branded residences for sale ranging from three to five bedrooms alongside a wide array of amenities to be managed by the world-renowned Mandarin Oriental Hotel Group. The project has been a focal point of Indochina Kajima's development efforts for several years. With the strong support and close cooperation from Phu Yen provincial authorities, Indochina Kajima celebrates the construction permit which brings them closer to their vision of establishing Vietnam's premier luxury resort destination.

Reflecting on this key milestone, Peter Ryder, Executive Chairman of Indochina Capital and Board Member of Indochina Kajima, noted, "We are pleased to receive the construction permit for Mandarin Oriental, Bai Nom. Our effort put into obtaining the construction permit for such a complex, one-of-a kind development reflects our commitment to creating world-class properties across Vietnam. We thank the Phu Yen Province authorities for their support, and we look forward to working closely with them as we progress towards creating Vietnam's next sustainable standard-setting ultra-luxury resort."

On the momentous occasion, Mr. Keisuke Koshijima, Representative Director and Executive Vice President of Kajima Corporation and Board Member of Indochina Kajima, said: "The issuance of the construction permit is a testament to the collaborative efforts between Indochina Kajima and the local authorities. Given Kajima's long history of building the highest quality projects in the world, we plan to follow suit by setting a new standard in Vietnam for quality and sustainability with the development and construction of Mandarin Oriental, Bai Nom.

"We are very excited to be part of this project and look forward to contributing our experience and expertise to the successful and timely rollout of this outstanding property."

Situated near the border of Binh Dinh province, home to Quy Nhon City, the Mandarin Oriental, Bai Nom is positioned in one of Vietnam's most pristine and naturally stunning regions. Located on a spectacular 57-hectare site, adjacent to the traditional fishing village of Hòa An, the resort will feature a private cove with an untouched beach spanning over 800 metres. The breath-taking location is bordered by headlands rising to 80 metres, offering panoramic views of south-central Vietnam's picturesque and rugged cove-dotted coastline and mountainous interior.

The architecture and interior design incorporate many natural Vietnamese elements and local cultural references. Located directly on the beach and spread through the hills, the resort's hotel accommodation will include private terraces and pools. A variety of cuisines will be offered at three restaurants and bars, all with views of the surrounding ocean, beach and cliffs. A Spa at Mandarin Oriental will sit on the resort's cliff top, providing 360-degree views and Mandarin Oriental's unique wellness experiences. In addition, a Children's Club will come with a dedicated swimming pool and an activity centre offering outdoor adventure areas.

The project's branded residences will set a new benchmark for luxury living in Vietnam and will provide among the very best offerings in the region. Spread across 29 hectares, there will be an impressive collection of sixteen Hill Residences and nine Beach Residences, all with unobstructed panoramic ocean, cliff, and beach views. These elegantly appointed and fully furnished homes will be situated on expansive plots with private gardens, infinity pools and terraces. The residential areas have been planned and developed to offer villa owners the utmost privacy creating a beachfront retreat lifestyle unlike any other in Vietnam.

Indochina Kajima is proud to bring to market these exceptional residences managed by Mandarin Oriental, the award-winning owner and operator of some of the world's most luxurious hotels, resorts and residences. The Residences at Mandarin Oriental, Bai Nom will be one of only eight Mandarin Oriental resort residences globally, reflecting the exclusive nature of the spectacular 25 residences available for sale.

With construction advancing rapidly, Indochina Kajima will unveil details on a privileged offer for interested buyers in early 2025.

About Indochina Kajima

In September 2016, Indochina Capital, a leader in Vietnam's rapidly growing real estate, financial services and capital markets, entered a joint venture with Kajima Corporation, one of the largest Japanese general contractors and overseas real estate developers, to launch Indochina Kajima, a new real estate development platform in Vietnam. Indochina Kajima is fully committed to creating innovative sustainable real estate developments that build value for partners, clients and investors, while providing fulfilling opportunities for employees and enriching the communities in which they operate. Indochina Kajima has established a nationwide footprint with a focus on Hà Nội, the Central Coast and Ho Chi Minh City.

About Mandarin Oriental Hotel Group

Mandarin Oriental is the award-winning owner and operator of some of the world's most luxurious hotels, resorts and residences. Recognised for creating exceptional properties, each destination reflects the Group's oriental heritage, local culture and unique design. The Group's mission is to completely delight and inspire guests through delivering passionate service.

Having grown from its Asian roots over 60 years ago into a global brand, the Group now operates 40 hotels, 12 residences and 24 exclusive homes in 26 countries and territories with many more projects under development.

Mandarin Oriental continues to drive its reputation as an innovative leader in luxury hospitality, delivering sustainable growth over the long term. For more information, please visit https://www.mandarinoriental.com/en/.

The issuer is solely responsible for the content of this announcement.

F/View to Hill Residences & Beach Residences. Photo courtesy of Indochina Kajima.

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