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CityCenter Residential Announces 48 Percent Savings On its Exclusive Collection of Luxury Residences


Unprecedented New Pricing and Cash Incentives Available to Prospective Buyers of The Residences at Mandarin Oriental, Las Vegas and Veer Towers

Las Vegas, NV (April 18, 2012) – CityCenter, the groundbreaking 67-acre urban core redefining life on the Las Vegas Strip, today announced an unprecedented reduction to the total cost of home ownership of its exclusive collection of CityCenter Residences. Led by Sotheby’s International Realty affiliates, The Residences at Mandarin Oriental, Las Vegas and Veer Towers – two of the premier residential developments built in the U.S. in the past five years – will be reintroduced globally to new buyers at a 25 percent reduction from current levels. With existing pricing already 30 percent lower than peak prices, the project will yield buyers a total savings of 48 percent.

“We’re reducing the total cost of home ownership. A further 10 percent price discount plus rich cash incentives, paid out over time, makes this a wonderful time to buy a CityCenter condo.” said Tony Dennis, executive vice president, CityCenter Residential Division. “Our international buyers have come to appreciate CityCenter’s unique architectural character; its status as the heart of Las Vegas. Our re-pricing delivers unprecedented savings and unmatched value.”

CityCenter – the pulse of the Las Vegas Strip and an unrivaled urban resort destination featuring gaming, sophisticated dining, flagship retail and entertainment – is offering a select group of its remaining inventory with pricing and purchase initiatives that will make this an appealing buy for purchasers. The 25 percent reduction on current pricing is reached through the combination of an initial 10 percent markdown, along with 15 percent in additional incentives, including the following programs: 48-Months of Carrying Costs, Buy-Back Guaranty, 36-Month Cash Back, Turn-Key Furniture Packages through Tui Lifestyle, and CityCenter M life Curated Living Rewards. This purchase opportunity is ideal for prospective buyers seeking high-quality residential properties with great pricing and initiatives, and small portfolios of rented residences with attractive incentives to offset the cost of ownership.

The Residences at Mandarin Oriental, Las Vegas—located on the upper half of the 47-story tower—boast 225 exclusive homes including stunning one-, two- and three- bedroom units ranging in size from approximately 1,110 to 4,000 square feet. Designed by Kohn Pedersen Fox Associates, The Residences at Mandarin Oriental, Las Vegas enjoy personalized access to Mandarin Oriental, Las Vegas’ services and amenities. Pricing starts at $880,000.

Veer Towers, designed by internationally renowned architect Helmut Jahn, is an architectural and artistic landmark on the global scene—a masterful translation of energy and excitement into physical form. Inclined at a five-degree angle, each tower features 335 residences, including studios, one-, two- and three-bedroom flats, and penthouses ranging from 500 to nearly 3,300 square feet. Pricing starts at $315,000.

For more information about The Residences at Mandarin Oriental, Las Vegas and Veer Towers, as well as details about how to become a co-operating broker, please call (702) 590-5999, toll-free (866) 708-7111, or visit www.citycenter.com.

About Sotheby’s International Realty
Combining the world’s most prestigious luxury real estate brand with local market knowledge and specialized marketing expertise, Sotheby’s International Realty is the leading real estate sales and marketing company for the world’s most exceptional properties. Our professional sales associates provide the highest caliber of real estate service, unrivalled local and international marketing solutions, and a global affiliate sales network of over 560 offices in 42 countries to manage the real estate portfolios of discerning international clients.

About CityCenter
CityCenter is an unprecedented development on 67 acres between Bellagio and Monte Carlo resorts on the Las Vegas Strip. CityCenter is a joint venture between MGM Resorts International (NYSE: MGM) and Infinity World Development Corp, a subsidiary of Dubai World. CityCenter features the AAA Five Diamond ARIA, a 61-story, 4,004-room gaming resort; luxury non-gaming hotels including Las Vegas’ first Mandarin Oriental and Vdara Hotel & Spa; Veer Towers, the development’s only strictly residential buildings; and Crystals, a 500,000-square-foot destination for luxury shopping and dining. Mandarin Oriental, Las Vegas and Veer Towers offer approximately 900 residential units. CityCenter also features a resident Cirque du Soleil production celebrating the timeless musical legacy of Elvis Presley; and an unparalleled Fine Art Collection with works by acclaimed artists including Maya Lin, Jenny Holzer, Nancy Rubins, Claes Oldenburg and Coosje van Bruggen, among others. CityCenter is a design collaboration between MGM Resorts International and eight internationally acclaimed architectural firms including Pelli Clarke Pelli, Kohn Pedersen Fox, Helmut Jahn, RV Architecture LLC led by Rafael Viñoly, Studio Daniel Libeskind, David Rockwell and Rockwell Group, and Gensler. At the forefront of sustainability, CityCenter is the world’s largest private green development. ARIA, Vdara, Crystals, Mandarin Oriental, Las Vegas and Veer Towers all have received LEED® Gold certification by the U.S. Green Building Council. This marks the highest LEED achievement for any hotel, retail district or residential development in Las Vegas. For more information about CityCenter, please visit citycenter.com.

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Media contact: Courtney Finley, Brittany Pass or Erin Cain at Glodow Nead Communications, 415 394-6500 or Courtney@glodownead.com.