NBC LAND

New Batam Centre Land Reclamation and Development Project (“NBC Land”)

NBC Land will be located on the north-eastern tip of the island, where 100 hectares of land will be reclaimed, of which 13 hectares will be used for construction of a ferry terminal to replace the existing ferry terminal of 0.9 hectares (See: Figure 1&2).

Project Development Plans

NBC Land shall be developed as a meticulously curated, self-contained tropical island paradise with world-class amenities of all kinds catered towards high-net-worth individuals and families, corporations and tourists, serving as a centre for all forms of tourism, including medical tourism , and well positioned as a highly competitive alternative to the neighbouring Singaporean real estate market. Execution of NBC Land will be led by China Communications Construction Company Limited (“CCCC”), an expert in land reclamation and civil infrastructure, via its regional subsidiary incorporated in Malaysia, CCCC Dredging Southeast Asia Sdn Bhd (“CDSA”), in partnership with Indonesia-incorporated PT Synergy Tharada (“PT Synergy”), the local partner holding the rights and licenses required to execute the project. CCCC’s projects in the Southeast Asian region are executed by its regional entity, CDSA which has substantial experience in infrastructure and reclamation projects , and will be acting as the project manager for the reclamation works and infrastructural development of the island and funding arrangement, where it has historically successfully executed multi-billion-dollar projects in the region and maintains strong access to sources of funding both via China’s strong baking institutions and internationally. The Gross Development Value (GDV) of the Project is estimated at USD3.2 billion, with a total projected GDV of USD17.8 billion on final completion. Demand is expected to benefit from the robust value proposition:

• Strategic Location: on the busy Melaka Strait shipping route, with international transportation amenities in the form of ferry, international airport and port, where historically there have been a large number of Singaporean tourists, which comprised over 50% of Batam’s international visitors.
• World class construction quality and amenities: across the entire island, with carefully curated landscaped parks and public facilities.
• From luxury to ultra luxury residential real estate: as an alternative to Singapore property ownership for Singaporeans, where Housing Development Board (HDB) apartment units’ average cost of USD4.7k/m², with landed property costing at least USD13.8k/m² .
• Grade A commercial real estate and offices: where Batam remains an attractive destination for businesses, with USD800m earmarked for investment by businesses setting up in Batam further noting the commercial real estate and offices which will be made available via the Project will be vastly superior to the existing offerings in Batam (e.g. in terms of build quality, energy saving, amenities, etc.).

The Project offers a stronger value proposition given the offering of similar world-class amenities at a lower pricing point (compared to Singapore and other similar top tier global developments), moderate weather (compared to the UAE) and special economic zone (which will boost demand, on the back of industry growth).

China Communications Construction Company Limited ("CCCC")

CCCC (https://en.ccccltd.cn/) is a China majority state-owned enterprise with more than 100 years of experience noting China’s position as the largest area of reclaimed land in the world at 4,600 square miles , and is a leading global comprehensive service provider of ultra-large infrastructure engaged in the investment, construction and operation of transportation infrastructure, equipment manufacturing, real estate and urban comprehensive development, providing customers with investment financing, consulting planning, design and construction, management and operation package solutions and integrated services and claims to be the world's largest port design and construction company, the world's largest highway and bridge design and building company, the world's largest dredging company, the world's largest container crane manufacturing company and the world's largest offshore oil drilling platform design company; it also has the title of China's largest international engineering contracting company and China's largest expressway investors.

PT Synergy Tharada (“PT Synergy”)

PT Synergy is a subsidiary of the Synergy Group (https://www.sinergy.web.id/#) was contracted with the construction and management with the BOT (Build, Operation and Transfer) system of Batu Ampar Passenger Ferry Port, Batam Island (which was later converted into a Container Port) with the Batam Authority. The Batam Centre Ferry Terminal ferries passengers between Singapore and Malaysia (and vice versa), where PT Synergy has transitioned the ferry terminal from a port into an integrated business centres on Batam Island.

WDS Consultancy Pte Lt (“WDS”)

WDS (https://wdsdesign.sg/) is an international multidisciplinary design firm providing consultancy services for architecture, interior design, landscape master planning and urban design in the Asian region and beyond, with numerous international projects such as the Masterplan of Funtasy Island Batam Indonesia, Hai Tang Bay, Sanya, China Masterplan for a Rice Museum, Indoor Garden and Mall, Glorificaraguay, a strategic planning for the Republic of Paraguay. Masterplan of Villa Florida in Asuncion, Bali Airport City and the likes.