Thakral : 1. Press Release - Thakral JV, GTH Resorts Launched 揋emLife?Brand and First Two Retirement Resorts

Change - Change in Corporate Information::PRESS RELEASE - THAKRAL JV, GTH RE...

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Change - Change in Corporate Information::PRESS RELEASE - THAKRAL JV, GTH RESORTS LAUNCHED "GEMLIFE" BRAND AND FIRST TWO RETIREMENT RESORTS

Issuer

THAKRAL CORPORATION LTD

Announcement Details

Change - Change in Corporate Information

Announcement Sub Title PRESS RELEASE - THAKRAL JV, GTH RESORTS LAUNCHED "GEMLIFE" BRAND AND FIRST TWO RETIREMENT RESORTS

Please refer to attached Press Release on Thakral Joint Venture, GTH Resorts Launched "GemLife" Brand and First Two Retirement Resorts in Queensland.

Place Of Incorporation

Singapore

Registered Address

ThakralCorp_PR_GemLife_Highfields_Bribie_Projects_Launches_20161219.pdf Total size =450K

http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=AnnouncementL...

19-Dec-16

(Incorporated in the Republic of Singapore on 7 October 1993) (Company Registration No. 199306606E)

PRESS RELEASE

Singapore - 19 December 2016 - GTH Resorts group of entities ("GTH Resorts JV") - a joint venture between TCAP Partners Pty Ltd ("TCAP"), a subsidiary of mainboard-listed Thakral Corporation Ltd ("Thakral" or "TCL" and together with its subsidiaries, the "Group"), and PVAP Pty Ltd ("PVAP"), a subsidiary of Living Gems Lifestyle Resorts ("Living Gems") had launched its "GemLife" brand for the resort- style retirement housing to be developed under the GTH Resorts JV. The first two resort-style retirement communities - GemLife Bribie Island and GemLife Highfields were also launched in Queensland late last month and earlier this month respectively.

From left, Greggory Piercy and Inderbethal Singh Thakral from Thakral and Adrian Puljich from Living Gems at GemLife brand launch.

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Representatives of Thakral, the Puljich family and ANZ at the GemLife brand launch in Queensland

PVAP is owned by the Puljich family who has a more than 30-year track record of owning and running Living Gems which has already has completed five resorts and 1,171 home sites under management and won several awards including the International Over 50s Housing Awards Most Outstanding Active Lifestyle Resort in the World 2015.

GemLife's retirement homes are targeted at the "baby boomer" housing market in Australia which is growing rapidly with the over 65-year-old cohort the fastest growing age group growing at 3.6 per cent per year. The housing units are directed at owner-occupiers with a price range of between A$360,000 and A$575,000.

GTH Resorts JV has already established seven project companies, contracted three development sites for about 800 homes and are negotiating contracts on three more sites.

GemLife Bribie Island, north of Brisbane and GemLife Highfields near Toowoomba are both in Queensland and have achieved strong positive response from buyers.

GemLife Bribie Island Launch

GemLife Bribie Island is expected to have 404 homes on a 24.9-hectare site, including a 9.5-hectare lake while GemLife Highfields will have 233 homes on a 9- hectare site. The first occupants for both retirement home sites are expected to move in by mid-2017. Buyers typically purchase their Living Gems units from the sale proceeds of their family home or superannuation funds.

A third site in New South Wales, which can accommodate 210 homes on an 11-ha site is expected to be approved for development in Q1FY2017.

"Joining hands with Living Gems, one of Australia's most well-known and respected operators in the retirement homes sector will give the Group a notable footprint in the business. The retirement homes sector is among the fastest growing real estate sectors in Australia. Our alliance with Living Gems will provide the Group with stable returns over the long term. This is in line with our overall strategy to achieve sustainable growth for the Group and deliver positive shareholder value," said Mr. Inderbethal Singh Thakral, Thakral's Chief Executive Officer.

Further, both Living Gems and the Group shared an important value of having sustainable retirement living for the families that buy the houses by pricing GemLife resorts affordably, incorporating large areas of landscaped grounds, boulevard style