FRANKFURT, Germany and LOS ANGELES, Dec. 22, 2009 (GLOBE NEWSWIRE) -- Philand Ranch Ltd. (Frankfurt:1P8.F) (Frankfurt:WKN A0RPEA), a company engaged in the development of master planned communities and other real estate developments in Vietnam and Southeast Asia, announced today it has completed the final planning stages for construction at Pointe91, the first phase of the Philand Ranch master planned community to be developed in Chu Lai, Quang Nam Province in Central Vietnam. Philand Ranch is a majority-owned subsidiary of PHIGroup, Inc. (OTCBB:PHIE) (Frankfurt:PR7.F) (Frankfurt:WKN A0RNQV) whose business scope includes the development and management of real estate properties, mining interests, and consulting, merger and acquisition advisory services.
The company is now prepared to begin breaking ground for initial construction at Philand Ranch in Central Vietnam. The final envisioning meeting of the Philand Ranch team was held at the PHIGroup head offices in Huntington Beach, CA on December 16 through 19. Included were land planners, architects, asset managers, the resort management team, marketing and sales directors, IT, construction managers, the financial team and senior management. The final touches were put on an unprecedented master plan that will bring Central Vietnam into the 21st century.
Influenced by the continuity and livability of Irvine Ranch in California and Summerland in Las Vegas, this new development will eventually encompass 10,000 acres in Quang Nam Province. The 118 acre first phase, Pointe91, introduces a hot new five star resort area, executive housing, mid-range cabana residences, a marina and unfettered access to hiking and walking trails, beaches and the South China Sea. It also includes an economic free zone, industrial parks, a free trade zone and educational and conference facilities.
The concept is simple -- whole community planning. The development creates places where people can live, work and play in safety and comfort, build family ties, recreate together with family and friends near the water, enjoy a short commute to work while enjoying the very best in home construction and land planning. This new community brings an unprecedented new standard of living in Central Vietnam with opportunities for residents, tourists and guests. The development is expected to bring thousands of new jobs, new industry and commercial ventures and much needed housing as well as economic opportunities to the area for decades to come.
Daniel St. John, Project Director for Philand Ranch, states, "It has been a long journey from the initial planning stages more than two years ago, to today. We are extremely excited about everything from the thoughtful and distinctive architecture of the residences, the fantastic water features on the property, the artful landscaping, the plans for a five star resort hotel, to the smallest details like directional signage, and what kinds of birds will nest in the trees we plant. I am particularly pleased that our team has been diligent about insuring this community will be a sound investment; not only in the value created as a real estate investment, but also in creating a community where families experience an unprecedented quality of life, in one of the most beautiful areas in Vietnam."
About Philand Ranch
Philand Ranch is a long-term, billion dollar master planned community in Quang Nam Province, Central Vietnam best known for Hoi An City, a tourism hot spot where the ancient culture of Vietnam meets modern culture. Philand Ranch will develop the first phase, Pointe91, a luxury living community and tourist resort in the start of the New Year. Future development plans include development of tourist and resort communities in Nui Thanh District and residential mixed use, commercial, industrial sectors in South Hoi An. The overall master plan is expected to produce stable, long-term recurring revenues, more jobs and economic growth for several decades to come. www.PhilandRanch.com
About Pointe91
Pointe91, the company's first phase of development, is a 118-acre high-end residential seaside resort community featuring 227 grand private homes and villas in seven neighborhoods, a five star resort hotel and spa, and 30 detached select residences that will be offered as a private residence club. Miles of walking and jogging trails and several large parks take advantage of the scenic and natural terrain exclusive to this area. An industrial park, the 3,950- acre free trade zone, the open economic zone and mixed-use housing, university facilities, worship centers, and a 250-seat indigenous stone outdoor amphitheater with the backdrop of the South China Sea round out the community.
About Philand Ranch Limited
Philand Ranch Limited, a majority-owned subsidiary of PHIGroup (OTCBB:PHIE) (Frankfurt:PR7) (www.phiglobal.com), is the holding company for the development and management of real estate properties throughout Southeast Asia. It is the parent of Philand Corporation, a U.S. corporation, and Philand Vietnam Ltd, which manages the company's real estate development activities in Central Vietnam. The company is traded on the Frankfurt Stock Exchange (Frankfurt:1P8.F) (Frankfurt:WKN A0RPEA) and will soon be listed on the U.S. Stock Market. Web site: www.philandranch.com
Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
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