Abu dhabi project - Real Estate

Residential and clinics Towers - Abu Dhabi Airport Road

The property is proposed to be a combination of Commercial at Ground and First Floors extended over 7, 760.00m2 and 3 Blocks, Blocks A & B reserved for residential act and Block C as Clinic Building. As well, The developed Buildings is arranged over 4 basements levels, reserved as cars parking

PROJECT DESCRIPTION

PROJECT : Development of Commercial and Residential Complex.CUSTOMER NAME: Noor Capital P.S.CLOCATION: Sector W-68, Plot C-2a Abu Dhabi - U.A.E.

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Basement 1, 2, 3 and 4 for total of 383 cars capacity.

Ground Floor:Includes the Residential blocks main entrance and the Clinic main entrance, Shops and Services.

First Floor:Serves as Commercial use (Shops).

Residential Buildings1. Block AEach of the Typical floors consists of (9 Units) 1-Bedroom flats. Total Number of 1-Bedroom flats: (144) Flats2. Block BEach of the Typical floors consists of (2 units) 2-Bedroom flats and (2 units) 3-Bedroom flats.Total Number of 2-Bedroom flats: (32) FlatsTotal Number of 3-Bedroom flats: (32) Flats

A

BC

C

A

B

Clinic BuildingEach of the typical floors consists of Designed Clinic Units. Total Numbers of 58 nos will be described as follows:Clinic Type A: Reception and 4 Dector rooms, total of 32 units. Clinic Type B: Reception and 2 Dector rooms, total of 21 units. Clinic Type C: Rreception and 1 Dector rooms, total of 5 units.the clinic building is designed to be complied with health authorities requirements.

Direct & Indirect CostSize and Cost

Floors Area Cost / Sqm Construction Cost Parking / Basement 16,257 2,926 47,567,982.00 Shopping Area 7,760 3,350 25,996,000.00 Clinic Building 10,352 3,717 38,478,384.00 Residential 1 11,952 3,609 43,134,768.00 Residential 2 11,360 3,609 40,998,240.00 Roof 250 3,208 802,000.00 Total 57,931   196,977,374.00

Total Direct and Indirect Costs Floors Total Direct Total Indirect Grand Total Parking / Basement 47,567,982 3,516,389 51,084,371 Shopping Area 25,996,000 1,843,000 27,839,000 Roof 802,000 57,600 859,600 Clinic Building 38,478,384 2,648,559 41,126,943 Residential -1 43,134,768 2,993,378 46,128,146 Residential 2 40,998,240 2,845,112 43,843,352 Total Construction Cost 196,977,374 13,904,039 210,881,413 Cost of land  Total area 4,065 Cost pr sq. Mtr 27,060 Cost of land 110,000,000 Cost/ sq. m (Build Up) 2,640

NC Medical Services Portfolio 50% of the Cost of the Land 55,000,000

50% of 30% of Direct & indirect cost of the project 31,632,212

50% of the loan adminstration fees and interest during the construction 7,697,172

Capital of the Portfolio 94,329,383

The Portfolio will pay 55,000,000 to purchase 50% of the land from Noor capital and establishing JV with Noor Capital. ownership 50:50NC and the Portfolio will invest AED 63,264,424 (30% of the construction cost) and take a loan of AED 147,616,989 (70% of the construction cost )

Portfolio fees

placement 1% of Capital

Management 1% of NAV

Performance 10% for performance exceed 10% IRR

Income Statement Particulars

ConstY 1 Const Y2 Const Y3 FYE 1 FYE 2 FYE 3 FYE 4 FYE 5 FYE 6 FYE 7 FYE 8

Gross Profit Residnetial 1       10,002,260 10,002,260 10,481,457 10,481,457 10,984,615 10,984,615 11,512,930 11,512,930 Gross Profit of Residential 2       8,017,939 8,017,939 8,398,203 8,398,203 8,797,480 8,797,480 9,216,721 9,216,721 Gross Profit of Clinic Building       15,581,401 15,909,431 16,704,902 16,704,902 17,540,147 17,540,147 18,417,155 18,417,155 Gross Profit of Retail       4,923,133 5,196,641 5,456,473 5,456,473 5,729,296 5,729,296 6,015,761 6,015,761

                         selling of the Buildings     0              451,625,674

Total Gross Profit 0 0 0 38,524,733 39,126,270 41,041,035 41,041,035 43,051,539 43,051,539 45,162,567 496,788,242

Cost of Funds 0 (5,799,239) (8,118,934) (8,118,934) (7,104,068) (6,089,201) (5,074,334) (4,059,467) (3,044,600) (2,029,734) (1,014,867)

                         Depreciation 30 years 0 0 0 (7,029,380) (7,029,380) (7,029,380) (7,029,380) (7,029,380) (7,029,380) (7,029,380) (7,029,380) selling of the buildings                     (264,646,369.31)

Profit                      

Net Profit 0 (5,799,239) (8,118,934) 23,376,418 24,992,822 27,922,454 28,937,321 31,962,691 32,977,558 36,103,453 224,097,625

Cash flow(IRR = 13.91%)Particulars

ConstrY1

ConstrY2

ConstrY3 FYE 1 FYE 2 FYE 3 FYE 4 FYE 5 FYE 6 FYE 7 FYE 8

Invested 174,740,593 5,799,238 8,118,935      0       Cash Flow From Loan 0 105,440,707 42,176,282                Construction & Land Cost 174,740,593 105,440,706 42,176,282               All                      Gross Profit Residnetial 1       10,002,260 10,002,260 10,481,457 10,481,457 10,984,615 10,984,615 11,512,930 11,512,930 Gross Profit of Residential 2       8,017,939 8,017,939 8,398,203 8,398,203 8,797,480 8,797,480 9,216,721 9,216,721 Gross Profit of Clinic Building       15,581,401 15,909,431 16,704,902 16,704,902 17,540,147 17,540,147 18,417,155 18,417,155 Gross Profit of Retail       4,923,133 5,196,641 5,456,473 5,456,473 5,729,296 5,729,296 6,015,761 6,015,761  selling the buildings                     451,625,674 Total Cash Flow from revenues       38,524,733 39,126,270 41,041,035 41,041,035 43,051,539 43,051,539 45,162,567 496,788,242                        

Cost of Funds 0 (5,799,239) (8,118,934) (26,571,058) (25,556,191) (24,541,324) (23,526,458) (22,511,591) (21,496,724) (20,481,857) (19,466,990)                                                                     Net Cash Flow 0 (0) (0) 11,953,675 13,570,078 16,499,711 17,514,577 20,539,948 21,554,815 24,680,710 477,321,251