TANJONG plc reported Aug 22, 2008 that its unit - TROPICAL ISLANDS HOLDING gmbh had entered into Agreement with a Danish Group - ESKE GROUP a/s to develop vacation homes and related facilities at its Tropical Islands resort in 60km south of Berlin, Germany.

In a statement, ROBERT CHEIM - Chairman said "....The creation of Tropical Islands as a resort destination with an exotic year-round tropical setting was conceptualised over 3 stages of development. The first stage was accomplished with the opening of the dome in Dec 2004. The second stage involved the addition of new attractions within the dome to improve the quality and widen the appeal of the resort to a wider range of target audiences... The successful completion of the first two stages has positioned Tropical Islands favourably for the third and final stage .... which is to provide resort accomodation and related facilities .... to move beyond its local leisure market offering to capture the growing European market for short-term family vacations ....".

The Agreement will involve the development of 375 vacation homes over 30 hectares. 26 hectares have been zoned for streets, common facilities, parks and forests.

TANJONG is not expected to assume or commit any financial obligation for the development. Details of what TROPICAL ISLAND will get from the deal other than visitors was not available.(By KLSETRACKER.com)