Bangkok--9 Oct--ScottAsia Communications F1 champ enjoys holiday at his new beachfront villa in Phuket, Thailand Formula 1 world champion Kimi Raikkonen and guests attending a reception at Outrigger Serenity Terraces Resort Phuket in Thailand on October 4, 2008 to celebrate completion of Phase I of the development. Raikkonen has purchased an absolute beach front pool villa at Serenity Terraces www.serenity-terraces.com. Editors can download these high resolution pictures, and others of Kimi Raikkonen at Outrigger Serenity Terraces Resort on October 4 here. Phuket, Thailand, October 8, 2008 — Formula 1 world champion Kimi Raikkonen joined real estate agents, investors and fellow purchasers at Outrigger Serenity Terraces Resort Phuket in Thailand on October 4 to celebrate completion of phase I of the property. Raikkonen has purchased an absolute beach front pool villa at Serenity Terraces, which is on Rawai beach in the quiet southeast corner of the island. Attending the Outrigger Serenity Terrace function on October 4, Raikkonen said: "I'd forgotten how beautiful Phuket was. I'm also very impressed with the whole progress of the Serenity project. After living here for a week, I'm convinced I've made the right choice. The beachfront location is fantastic. I have enjoyed a great holiday in Phuket, which is a magnificent place."Over 65% of the development, which features 52 resort properties, including freehold condominiums, has been sold already. Property sales have continued despite political infighting in Bangkok and global financial disruption. "These have had little or no impact on sales and enquiries," said Serenity Terraces' Project Manager, Mr Izzy Ben Natan. "Investors have made their decision based on the medium and long term, both of which remain very bright." Mr Ramesh K Hamal, CEO of Green Heritage Group, which handles the development management, marketing and sales for the property said: "Because of Phuket's natural beauty, climate, affordable cost of living, easy access, superb tourism services and infrastructure such as schools, hospitals and department stores, the island is relatively immune to political and economic setbacks." When the Outrigger Serenity Terraces Phuket opens, it will start earning a guaranteed 6% annual return for investors who have entered its rental program. In addition, buyers may benefit from capital gains, which have been over 20% a year in Phuket for the last five or so years. The 52-unit US$26 million mixed residential-resort beachfront property, with spectacular ocean and island views, offers a variety of freehold condominiums and absolute beachfront pool villas. Prices range from US$300,000 to US$1.1 million. The property is scheduled to open in April 2009. The completed Phase One includes the communal areas, fitness suite, clubhouse, villas and duplexes, as well as the condominium apartment show suite. To date, 32 units have been sold or reserved, only 20 remain. Residents started moving-in in September. "They will soon be able to enjoy superb 5-star resort-style personalised services," said Mr Hamal. "Our philosophy is that luxury without service is meaningless. That's why award winning luxury resort operator, Outrigger Enterprises Group, has been brought in to provide the service and maintenance element for our buyers." Phase Two is due to be completed early next year, with the project's soft launch planned for March 2009. The majority of investment in Outrigger Serenity Terraces Resort in Phuket has come from overseas, with 70% of buyers coming from the UK, Scandinavia and America. Thailand has one of the strongest capitalised banking systems in the region, according to Fitch (Thailand), a ratings agency. Local banks' dependence on domestic deposits have also helped insulate them from the current economic downturn in America and Europe, bolstering the Thai property market. About Serenity Development Group Serenity Development Group specializes in residential resort developments and has executed projects in North America, Europe, Asia, the Middle East and Africa. Serenity Development Group has combined its experience, knowledge, and funds with top local and international consultants for its Serenity Terraces project in Phuket, Thailand. www.serenity-terraces.com About Outrigger Enterprises Group Outrigger Enterprises Group is one of the largest and fastest growing privately-held leisure lodging and hospitality companies in the Asia Pacific and Oceania regions and continues to expand its presence throughout the area. A family-owned company with more than 60 years of hospitality experience, Outrigger runs a highly-successful, multi-branded line of hotels, condominiums and vacation resort properties, including Outrigger Hotels & Resorts, OHANA Hotels & Resorts, Outrigger Condominium Collection, Embassy Suites, Best Western and Wyndham Vacation Ownership. Currently, Outrigger operates and/or has under development 47 properties with close to 12,000 rooms located in Hawaii, Australia, Guam, Fiji, Bali and Phuket, Thailand. Outrigger Enterprises Group also operates and develops hotel properties and hospitality-related retail and real estate opportunities for partners in Hawaii, the Pacific, the mainland USA and Asia. For online information, log on at www.outriggerenterprisesgroup.com and www.outrigger.com. Media contact Ken Scott ScottAsia Communications Thailand Email: [email protected] Tel: (+66) 2 860 8227 Mobile: (+66) 81 931 2753 www.ScottAsia.net