Landmark Development 'Indochina Riverside Towers' Officially Opens for Business

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The most significant commercial development to be built in Danang, Vietnam, the Indochina Riverside Towers - a two-tower complex containing retail, residence and office space - will officially opens its doors for business at the grand opening ceremony, June 17th, 2008.

The office tower further embodies a dynamic design with its curling cornice, aluminum features and rooftop crown. Typical office floor space amounts to 830m2, which can be divided into four tenancies. Both office space and retail space is still available

In a prime location overlooking the Han River in Da Nang's commercial center, the iconic Indochina Riverside Towers (IRT) complex is poised to open its doors for the Grand Opening Party on June 17, 2008.

The impressive, 24-story residential and retail building and its 12-floor office tower companion, is by the far the most significant development to date in the metropolis of Da Nang, raising the standard for property development and luxury living in the city.

With sweeping views of the Marble Mountains, South China Sea, Son Tra Peninsula and serpentine Han River, IRT is the first high end, multi-use property to be built in Vietnam's foremost coastal city. The IRT was developed by renowned local company Indochina Land - the real estate component of Indochina Capital - who employed famous architect Ben Wood and Gravity Partnerships for the design. Indochina Capital injected a total of USD $27 million into the IRT development.

"We are very proud indeed to announce the opening of IRT," says company co-founder and CEO Mr Peter Ryder. "There is simply no other development like this in Da Nang, making Indochina Land a pioneer in this sense. We are not only providing the city with its first real luxury residential complex but are opening a much-needed, international retail and commerce outlet that will be of benefit to the entire Central Coast region."

The prestigious property comprises a total area of 32,083 m2 and is in close proximity to the city's commercial and governmental institutions such as the Han market and headquarters for the Danang People's Committee and People's Council. The two towers are joined by a podium on the third floor which also acts as a platform for exclusive clubhouse-style facilities.

The innovative design and location of the IRT retail mall takes on the concept of an "internal shopping street", a feature complemented by the 14-meter high atrium inside. The atrium is a distinguishing feature in the design, allowing for generous streams of sunlight to filter into the mall, whilst also protecting shoppers from the elements.

The mall component consists of three floors with a total of 5,900m2 of leasable area. The facade of the retail levels is a welcoming one, punctuated by large panel glazed shop fronts and a colossal two-story advertising sign on the curvature of the Office tower directing shoppers to the front entrance.

Located above the retail section and podium are the apartment residence floors, offering a range of unit types from one-bedroom accommodations to four-bedroom penthouses (65-266 m2). The 95 apartments have all been designed to maximize the panoramic river view and feature warm colored stonework, breezy balconies and ample glass windowing, all of which blend harmoniously with the surrounding environs.

In line with the IRT contemporary motif, residents will further benefit from luxury facilities such as a podium roof swimming pool, spa and fitness center and function room. There will also be a wide selection of fine dining restaurants, bars and cafes to choose from within the retail section.    

"The office tower further embodies a dynamic design with its curling cornice, aluminum features and rooftop crown. Typical office floor space amounts to 830m2, which can be divided into four tenancies. Both office space and retail space is still available," says IRT General Director, Mr. Ho Quang Dung, "however they are likely to be occupied soon."

"With confirmed operators such as HSBC bank, Espirit, Shiseido, Highlands Coffee, Nike, AA Décor and other luxury brands reserving retail sections, the IRT offers a unique opportunity for companies to rent exclusive, high traffic retail space in Da Nang," Mr Dung stressed. "Furthermore, the IRT provides the only Grade A office space in Da Nang city. At the moment, Sumitomo Corp., Indochine Engineering, Dumex and other companies are preparing to move into IRT. In fact, the Indochina Land office is open and functioning on the third floor of the office tower already, which is testament to the fact that the IRT is not only ready for occupation, but operating at a very high standard. The availability of such prime space will not last long."

For additional information regarding this release please contact Amy Morison or visit http://www.indochinariverside.com

ABOUT INDOCHINA CAPITAL
http://www.indochinacapital.com                     

Indochina Capital was founded by Peter Ryder and Rick Mayo-Smith in 1999 as a financial services firm to engage in a variety of investment and advisory activities in Vietnam. Today, the group ranks as one of Vietnam's leading financial services firms with diversified fund management and financial advisory businesses. It managers over US $300 million in two real estate funds, over US $100 million in a series of managed equity accounts, and US $500 million in the recently established, Indochina Capital Holdings Vietnam, which in March 2007 became the first Vietnam related company to list on a major global stock market, the London Stock Exchange. The company also owns a significant share in and manages Mekong Securities, a leading Vietnamese broker/dealer and investment bank.

Amy Morison, Communications Manager
Email: amy.morison @ indochinacapital.com
Phone: + 84 (0) 511-3744 555 extension 5535
Cell: +84 (0) 905 205 588

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