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Two International Awards In A Row For Sylvia Park

NZX & MEDIA RELEASE

5 December 2008

Two International Awards In A Row For Sylvia Park

The innovative design and development of Sylvia Park shopping centre has been recognised for the second time this year with the awarding of a Merit Award at the International Council of Shopping Centres (ICSC) Design and International Development Awards presented in Phoenix, Arizona on Wednesday this week.

This award pitted Sylvia Park against 11 other finalists in the category of Innovative Design and Development of a New Project exceeding 46,451m². Judging resulted in the awarding of one Design Award (for a project in Poland) and four Merit Awards, for projects located in New Zealand, Poland, Brazil and Japan.

“It is a huge honour to be recognised amongst the best shopping centres in the world,” says Chris Gudgeon, Chief Executive of the Manager of Kiwi Income Property Trust. “This achievement is testimony to the high design values of this project that have made Sylvia Park a distinctive and iconic regional shopping destination.”

Sylvia Park is the largest shopping centre in New Zealand and Kiwi Income Property Trust’s flagship retail asset. It recently achieved sales turnover in excess of $350 million in its first complete year of trading.

“Next week we will open a new multi-storey car park, providing 750 additional parking spaces,” says Mr Gudgeon. “These new spaces bring the total number of car parks to 4,000 and will be a significant enhancement to Sylvia Park. Shoppers will be pleased with ample parking space to make Christmas shopping convenient and as stress-free as possible.”

Earlier this year Sylvia Park received a gold award in the ICSC Asia shopping centre awards for innovative development and design. The next round of awards is the ICSC best of the best international awards to be held in Las Vegas in May 2009.

ENDS

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