West Pioneer Properties Limited

West Pioneer Properties is a leading developer and operator of high-quality consumer/retail centric shopping malls in India. The Group acquires land in strategic locations in west and southern India, primarily in Tier II cities. The land will be used to build, own and manage shopping malls, hotels or mixed mall/hotel complexes.

West Pioneer is separated into two branches, West Pioneer Properties limited, incorporated in the British Virgin Islands, the publicly listed holding company and West Pioneer India, which focuses solely on Indian operations.

The retail market opportunity in west and southern India is derived from a combination of a virtually unpenetrated organized retail environment, a rapid increase in middle class, greater transparency in the property market, and improved infrastructure development which provides access to the market. India is anticipated to achieve at least GDP growth of 5.2% in 2009 making it the second fastest growing economy after China. Organized retail penetration in India, is expected to continue to grow 9.52% by 2010 according to independent research by Crisil.