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TEE Land Limited
Incorporated in the Republic of Singapore
Company Registration No: 201230851R
Press Release
NZ MINISTER OF HOUSING VISITS TEE LAND’S “WORKOTEL” IN CHRISTCHURCH, NEW ZEALAND
Dr. Nick Smith, NZ Minister of Housing says temporary accommodation needed for thousands of additional workers for the rebuilding of Christchurch Singapore, 14 June 2013 – TEE Land Limited1 , a diversified and regional real estate
developer listed on the SGX Mainboard, is pleased to announce that New Zealand’s Minister
of Housing, Dr. Nick Smith, today visited TEE Land Limited’s “Workotel” project at the
Riccarton Holiday Park site, the first well-designed and operational workers accommodation
being constructed by TEE Land in Christchurch, New Zealand. Accompanying Dr. Nick Smith
were MP for Christchurch Central, Mrs Nicky Wagner, and representatives of TEE Land
Limited and Artmatic Holdings Limited, the joint partners in this development.
1 SAC Capital Private Limited was the issue manager for the initial public offer of TEE Land Limited (the "Company"). This press
release has been prepared and released by the Company.
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(From Left to Right) (1) Mr. Jonathan Wood, TEE Land Limited (2) Mr. Jason Whitelaw, Artmatic Holdings Limited(3) Dr. Nick
Smith, Minister of Housing, (4) Mrs Nicky Wagner, MP for Christchurch Central, (5) Mr. Yap Shih Chia, TEE Land Limited, and
(6) Mr. Shane Kennedy, Artmatic Holdings Limited.
Interior of the workers’ accommodation
Commenting on the significance of the “Workotel” project, Dr. Smith remarked:
“Christchurch is going to require temporary accommodation villages to accommodate
thousands of additional workers needed for the rebuild. If we don't provide this sort of
temporary housing, we risk slowing the recovery through a shortage of workers or
putting too much pressure on the already constrained housing market.”
Mr Yap Shih Chia, Chief Operating Officer of TEE Land Limited, who was present during the
Minister’s visit to the “Workotel” project, remarked: "TEE Land believes that affordable
accommodation is one of the essential services that supports urban development
across many cities in the Asia Pacific region. We expect that upon the completion and
success of the “Workotel” project, TEE Land will be much sought after to participate
in many other development projects opportunities in Christchurch.”
About the “Workotel”
Sited on approximately 1.62 hectares of freehold land, Riccarton Holiday Park is centrally
located within Christchurch and is a 10-minute drive from the city centre. It is also within a 3-
minute drive to established facilities and amenities such as shopping malls and restaurants.
Approval has been obtained from the Christchurch City Council to convert Riccarton Holiday
Park into a workers’ temporary accommodation as well as to restructure it to house up to 300
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guests.
When completed, this development will be Christchurch’s first well-designed workers’
accommodation on a large scale, catering to both workers and displaced residents. The
development will enable construction companies in the vicinity to house a large part of its
manpower together, in proximity to the city centre.
TEE Land Limited holds a 75.1% stake in the project through its wholly owned subsidiary
TEE Hospitality Pte Ltd, while the remaining 24.9% stake in the project is held by its local
partner, Artmatic Holdings Limited.
#End of Release#
ISSUED ON BEHALF OF TEE LAND LIMITED
BY CAPITAL ACCESS COMMUNICATIONS PTE LTD:
Edwin Lee Neo Aik Kee
Email: [email protected] Email: [email protected]
Mobile: +65 9660 7361 Mobile: +65 9793 0504
About TEE Land Limited
TEE Land Limited is listed on the Official List of the Singapore Exchange Securities Trading Limited. The Group is a property developer with an established track record in delivering quality and well-designed residential property developments in Singapore.
The Group's property development projects, which are pre-dominantly freehold in tenure and targeted at middle-to-high income consumers who value exclusivity in good locations, are located in Singapore, Malaysia, Thailand and Vietnam. Whilst the Group continues to specialize in residential property developments, it has also undertaken commercial and industrial property development projects.
