Serrenia - Development - Project Schedule

THE DEVELOPMENT

THE PROPERTIES

LOCATION

FACILITIES

SERVICE

PEACE OF MIND

THE MARINA

THE MARINA HUB

THE SPA

GOLF CLUB

MASTERPLAN

Overview Inspired Architecture Serrenia Vision Technical Partners Project Schedule Press & Events

UPDATE: March 2007 - Detailed design and engineering are underway. Construction has already started with the excavation of the Marina basin. A quarter of a million cubic meters has already been excavated.

1	Start of Construction	JAN 2007
2	Completion of Passive Spa Construction	MAY 2009
3	Completion of Marina Hub Construction	JULY 2009
4	Completion of Golf Clubhouse Construction	SEPTEMBER 2009
5	Completion of Zone 1 Residential Construction	NOVEMBER 2009
6	Completion of Marina Construction	NOVEMBER 2009
7	Completion of Golf Course Maturation	JANUARY 2010
8	Completion of Zone 2 Residential Construction	MARCH 2010
9	Completion of Hotel Construction	MARCH 2010

The above project schedule and dates are for guidance only and are subject to change at any time without notice for reasons within or outside the control of Vantage Holdings SA and/or its affiliates ("Vantage"). They do not constitute a representation or warranty on the part of Vantage, nor do they form part of any contract of sale.