Gold Ridge announces 60% of nex is committed 15 months ahead of mall’s scheduled opening

nex will have Isetan, Courts, Cold Storage and Challenger among its key tenants

Singapore, 23 July 2009 – Gold Ridge Pte Ltd, the developer of nex, has announced today that it has leased 60% of the mall’s lettable space, fifteen months ahead of the mall’s scheduled opening date. Isetan has secured a 53,000 square feet space at nex where the store will be located on levels one to three of the six-storey mall. This will be the first time since 1995 that Isetan is setting up a new department store in Singapore.

Other new tenants that have recently come onboard include IT store Challenger, and household furniture and electronics mega store Courts. Entertainment and leisure outlets include a family karaoke centre by Partyworld KTV and Virtualand, an amusement arcade centre. There are also plans to include a pet lovers’ enclave on the landscaped roof garden of the mall.

nex has attracted a pair of reputable supermarket tenants and friendly contenders, Cold Storage and Fairprice Xtra, which will be housed together within the same mall in Singapore for the first time.

In addition, there will be an exciting cross-section of dining treats to meet the needs of different palates. Among these are two established food operators – Food Junction and Food Republic. Food Junction will have a 500-seating capacity foodcourt that serves affordable local and international delights. Meanwhile, Food Republic and the Breadtalk Group will operate a thematic food hall, a 4-in-1 concept hosting brands such as Toastbox, Icing Room, Breadtalk, a new Japanese ramen restaurant and. the ever popular Din Tai Fung restaurant.

Since breaking ground last November, a number of established retail chains such as local cineplex operator Shaw Organisation, as well as RE&S Enterprises Pte Ltd, the operator of a 12,000 square feet themed “Japan Today” food zone. Food operator, Bachmann Japanese Restaurant, will additionally provide Japanese food offerings comprising the four themed-concepts of Ajisen Japanese Cuisine, Botejyu Okonomiyaki, Yoshimi Curry and Fruit Paradise.

Reflecting its “Great Xpectations” tagline, nex promises to be a vibrant social and recreational hub providing the North East community with a comprehensive mix of retail, entertainment and dining options. Retail mix will extend over 400 specialty shops offering international and local fashion brands, young fashion, street wear, sportswear, accessories, children’s wear, toys, gifts, hobbies as well as home products. The mall will also have an extended-hours food and entertainment zone.

“nex has great potential in terms of market penetration with a large catchment of residential population and numerous schools located in the area. To successfully garner 60% of tenancy 15 months before the mall opens shows the confidence our tenants have in nex being the regional centre for those working, study or living in the North East district for retail, lifestyle and entertainment,” said Mr Tong Kok Wing, General Manager at Guthrie Consultancy Services Pte Ltd, which provides project and leasing management for nex.

Slated to open by end 2010, nex will be the largest mall in North East Singapore with over 600,000 sq ft of net lettable area. Located at 23 Serangoon Central, nex is a six-storey mall, fully integrated with a new bus interchange and the Serangoon Interchange station where the North East Line and the newly opened Circle Line converge.

This project is spearheaded by Gold Ridge Pte Ltd - a special-purpose entity set up to own and develop this retail project.

Marketing Manager

Guthrie Consultancy Services Pte Ltd, owned by Guthrie GTS Ltd, is the project manager, retail consultant and marketing manager for the retail project nex. It is part of Guthrie GTS Ltd, a company listed on the Singapore Stock Exchange. Guthrie Group’s core businesses encompass the property, engineering and leisure sectors. The Group’s Property Division is a major retail player in both the local and regional markets; which directly or indirectly owns and manages more than three million square feet of retail real estate.

Owner of nex

Gold Ridge Pte Ltd is the owner and developer of the retail project nex. The ultimate shareholders of Gold Ridge Pte Ltd - a special-purpose vehicle incorporated to develop the project, comprise mainly institutional investors from USA and Europe. Pramerica Real Estate Investors (Asia) Pte Ltd is the investment manager for these investors in relation to nex. Established in 1994, Pramerica provides real estate investment management and advisory services for property investments throughout Asia. It is the Asian arm of the global real estate investment management and advisory business of Prudential Financial, Inc. of the United States, which offers a broad range of global products and funds to institutional investors worldwide. Its existing shopping centre portfolio includes Tiong Bahru Plaza, Century Square, Hougang Mall, White Sands, Liang Court, Jurong Point 2 and Tampines 1. Pramerica is a tradename of Prudential Financial, which is headquartered in the United States and is not affiliated in any manner with Prudential plc of the United Kingdom.

For media queries, please contact:

Florence Ang
Red Dawn Communications
+65 6222 4704 / +65 9691 1404
florence@reddawncommunications.com

Rebecca Zaccheus
Guthrie Consultancy Services Pte Ltd
+65 6460 7645
rebeccaz@guthrie-gts.com