Quarterly Investor Update

9 December 2016

Aseana Properties Limited

("Aseana")

Quarterly Investor Update

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia and Vietnam, listed on the Main Market of the London Stock Exchange, has issued its Quarterly Investor Update for the nine month period to 30 September 2016, a copy of which can be obtained from Aseana's website at: http://www.aseanaproperties.com/quarterly.htm .

Highlights:

· The Company is proposing to return capital of approximately US$10.0 million to Shareholders by way of Tender Offer for up to 13,334,000 shares, subject to Shareholder approval at an Extraordinary General Meeting. The repurchased shares will be held in treasury by the Company.

· SENI Mont' Kiara ("SENI") achieved approximately 98% sales to date.

· The RuMa Hotel and Residences ("The RuMa") achieved approximately 55% sales based on sale and purchase agreements signed.

· The cinema located at the Harbour Mall Sandakan ("HMS") was opened for business on 30 July 2016 and the mall is approximately 65% occupied.

· Four Points by Sheraton Sandakan Hotel ("FPSS") recorded an average occupancy rate of approximately 38% for the nine-month period ended 30 September 2016.

· Aseana Properties disposed of its remaining shares in Nam Long Investment Corporation ("Nam Long") in two separate tranches at VND 21,500 per share in September 2016 and at VND 22,000 per share in November 2016, generating total gross proceeds of approximately US$5.5million.

For further information:

Notes to Editors:

London-listed Aseana Properties Limited (LSE: ASPL) is a property developer investing in Malaysia and Vietnam.

Ireka Development Management Sdn Bhd ("IDM") is the exclusive Development Manager for Aseana. It is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 49 years of experience in construction and property development. IDM is responsible for the day-to-day management of Aseana's property portfolio and the introduction and facilitation of new investment opportunities.