(3 January 2017, Hong Kong) Following the announcement on 14 November 2016 where Landing International Development Limited (“Landing International” or the “Company”, HKEx Code: 00582) agreed to purchase the remaining 50% equity interest in Landing Jeju Development Co., Ltd (“Landing Jeju Development”) from Algona Pte. Ltd., a wholly-owned subsidiary of Genting Singapore PLC (“Genting Singapore”, SGX Code: G13) for a total consideration of up to US$420 million (equivalent to approximately HK$3.3 billion) (the “Acquisition”), Landing International is pleased to announce that it has successfully completed the Acquisition today.

Landing Jeju Development is currently developing Jeju Shinhwa World (“Jeju Shinhwa”), the first premium integrated leisure and entertainment destination resort in Jeju Island, the Republic of Korea. The 2.5 million square metres integrated resort offers a diverse range of world-class hospitality, leisure, entertainment and gaming facilities suited for visitors of different age groups. Upon completion of the Acquisition, Jeju Shinhwa will be operated by Landing International under its “Landing” and “Les Ambassadeurs” brand name. In addition, Landing Jeju Development has attracted manyexperienced professionals from various global hospitality, attractions, entertainments and gaming companies to join its growing management team. Each of these professionals has many years of experience in their respective fields.

Landing Jeju Development is working with Shinsegae Co., Ltd., one of Korea’s leading premium retail conglomerate to develop Jeju Shinhwa’s retail and food & beverage offerings. It is also working with leading Korean entertainment companies, YG Entertainment and TUBAn, to provide world-class entertainment, shows and events in the integrated resort. Landing Jeju Development is also in discussions with selected international premium hospitality brands to operate its premium hotels and resort condos & villas in the resort.

Mr. Yang Zhihui, Executive Chairman of Landing International and Landing Jeju Development, said, “The past two years have been an intense and exciting journey for Landing Jeju Development and its partners. The Landing Jeju Development team worked very closely with all the relevant authorities in Jeju, architects and contractors to ensure the construction works were carried out efficiently and efficiently according to plans. I am pleased that structural works for Phase 1 of Jeju Shinhwa World is substantially completed at the end of 2016. The focus in 2017 will be mainly on its interior fittings as well as preparing it for commencement of operations in the fourth quarter of this year. When opened, I am confident that it will further drive the development of tourism in Jeju and become an iconic and internationally recognized integrated destination resort that Jeju will be proud of.”

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