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Global Capital & Development sign landmark deal with Pantai Group to develop Gleneagles Medini Hospital

The development complements Iskandar Malaysia's vision to become a regional healthcare hub

UAE - 8 December, 2010 - Global Capital & Development (GCD), a joint venture consortium tasked with the development of Medini, has announced a landmark deal with Malaysia's leading healthcare provider, Pantai Group, to develop the Gleneagles Medini Hospital. The hospital will be located in Iskandar Malaysia, the country's future engine of growth located at the southern tip of Malaysia in Johor. The GCD consortium consists of experienced state and commercial shareholders including Mubadala Development Company, Unity Capital, ALDAR Properties PJSC, Malaysia Ventures and Iskandar Investment Berhad.

As a member of Parkway Holdings, Pantai's development comes as part of its overall strategy to boost the region's medical tourism industry and to meet the needs of a growing and maturing population in Medini and Iskandar Malaysia. The hospital will be developed across 15 acres of land located in Medini North, the city's lifestyle hub, and is positioned as one of the premium hospitals under Parkway Health. The 300-bed private tertiary healthcare complex will be completed in stages and will be Pantai's 12^th hospital in Malaysia. The development complements Iskandar Malaysia's vision to become a regional healthcare hub and will set new benchmarks for quality healthcare, reinforcing Malaysia's reputation for delivering world-class medical services for both Malaysian and foreign patients.

"We are proud to be working with such an established international healthcare provider to bring top quality healthcare to Medini. The high standards set by Pantai align with GCD's vision to ensure the best in planning, design, management and operational efficiency within Medini. We will work closely with Pantai to develop a world class facility that will put Iskandar Malaysia at the forefront of healthcare in Southeast Asia," said Keith Martin, Chief Executive of GCD.

"Gleneagles Medini Hospital will adopt global best practice for quality patient care to ensure world - class clinical outcomes delivered through a programme of thorough clinical governance. This facility is targeted to meet the demands for high quality, yet affordable, healthcare in Malaysia, Singapore and wherever such services are not available. At a projected cost of RM 500 million, it is testimony to our confidence in the Parkway Health brand and signals the Pantai Group's intended positioning in the healthcare space. We will leverage upon the strengths of our brands to extend our footprint in Malaysia, within an industry that has been identified as a National Key Economic Area for the nation," said Encik Khairil Anuar Abdullah, Chairman of Pantai Holdings Berhad.

In a deal worth RM500 million (approximately US$156 million),this landmark deal takes the total investment in Iskandar, Malaysia to RM64.88 billion (approximately US$20.3 billion) and adds to the compelling business environment and infrastructure development surrounding Medini and Iskandar Malaysia. Key developments in Medini already include LEGOLAND Malaysia, the first LEGOLAND theme park in Asia, which is expected to attract one million visitors every year, as well as a connected lifestyle-retail mall with an expected annual revenue of US$100 million in retail spend. Medini is also surrounded by a number of leading global educational institutions that include the Newcastle University of Medicine, Marlborough College Malaysia and the Netherlands Maritime Institute of Technology.

"GCD is committed to building on Malaysia's impressive development story by working with quality investors and developers to transform Medini into a next generation city. Today's developer or investor must take a life of asset view to real estate. At GCD we do that by raising the bar and focusing on 'end-user' requirements integrated with best practices and learning from major city developments around the world. We use the term 'Medini Class' as a set of guidelines aimed at creating practical and innovative solutions for life of asset efficiencies, as an integrated response to the challenges of planning, design, energy efficiency and facilities management," commented Mr Martin.

Recently appointed as the Chief Executive of GCD, Keith Martin is tasked with the development of Medini's key zones that are the Medini Business District, a financial and business centre connected to regional and global markets; Medini North, a lifestyle, retail and tourism destination; and Medini South, a waterfront residential, lifestyle and leisure community.

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About GCD
Global Capital & Development (GCD) is the lead investor in Medini, a major integrated city development located within the Iskandar region of southern Malaysia. Comprising 650 hectares, it offers business, commercial, lifestyle, residential and waterfront investment opportunities. Located just 45 minutes drive from central Singapore, Medini is set to become the most livable business community in Asia. GCD is a consortium representing investors from the Middle East and Malaysia, including Iskandar Investment Berhad, which is partly owned by Khazanah, the investment arm of the Malaysian Government and Mubadala, the Abu Dhabi Government investment company.

For more details, visit www.gcdmedini.com

About Pantai Holdings Berhard
Pantai Holdings Berhad (Pantai) is Malaysia's leading healthcare group with a network of ten hospitals throughout Malaysia. Hospitals under the Pantai Hospitals brand are located strategically in Kedah, Penang, Perak, Selangor, Kuala Lumpur, Melaka and Johor. Collectively, the Pantai Group of Hospitals has a total of more than 1,500 beds, with over 100,000 admissions a year. The Group is anchored by a pool of clinical professionals, consisting of more than 700 doctors and 2,000 nurses.

Pantai also provides supplementary healthcare services comprising comprehensive laboratory and radiology facilities and rehabilitation services. Our College of Nursing & Health Sciences trains more than 600 nurses on a three-year curriculum.

Pantai is part of Integrated Healthcare Holdings a wholly owned subsidiary of Khazanah Nasional Berhad.

About Medini
Medini is one of Malaysia's largest development projects in Iskandar Malaysia. The development offers three new environments; Medini Business District, the heart of business; Medini North, a lifestyle destination; and Medini South, great leisure and living experiences. With sophisticated networks to the region and beyond, Medini is the intelligent business and lifestyle decision in South-East Asia.

For more information, please visit http://www.gcdmedini.com.

For media queries, please contact:
Ogilvy Public Relations Worldwide, Singapore
Rhiannon Evans
Email: rhiannon.evans@ogilvy.com
Tel: +65 6213 7801

Lincoln Mah
Email: lincoln.mah@ogilvy.com
Tel: +65 6213 7854

© Press Release 2010