MEDINI LEASE SCHEME

IIB is the registered proprietor of approximately 2300 acres of land in Medini which is developed under the Medini Lease Scheme. Under the Medini Lease Scheme, leases are granted by IIB to third parties known as Master Concessionaires Lease Developer (MCLD) or Subsequent Layer Investor (SLI) or Joint Venture Companies. They in turn may develop the land and sell the leases to end purchasers for certain consideration. The maximum duration of the lease to be granted by IIB as the freehold landowner is for a maximum term of 99 years with an option to extend the lease for another 30 years.