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Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
Property Development Modelling. Helios Apartments - Bahamas
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Property Development Modelling. Helios Apartments - Bahamas

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Property Development Modelling.

Property Development Modelling.

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  • 1. Helios Apartments; Bahamas, Nassau Property Development Summary: 2013
  • 2. Main Objectives: • To acquire 3,36 acre, 209 liner beach front, clear and freehold title land parcel in Cable Beach, Bahamas, Nassau New Providence area; • Develop Nr:44,LEED platinum certified, contemporary style, high energy efficient serviced apartments targeted to holiday, business visits and permanent residence markets to attract wider audience than current market rivals. • Position Helios Apartments, as Land Mark building of the area, symbol of sustainable luxury attracting world wide attention; • Provide long term on site asset and business management services to ensure high living standards and asset income levels are maintained.
  • 3. Geographic Position:
  • 4. International Direct Flights from Nassau:
  • 5. Direct Flights from Miami Traffic gateway for local islands
  • 6. Development Site: 3.36 acres –Freehold; 209 liner beach front; Lush site tropical vegetation; Electricity,water,phone line on site;
  • 7. Development Site Pictures;
  • 8. Development Site Details: PROPERTY IDENTIFICATION: Lot numbers 5 and 6 of Cable Beach Subdivision; ADDRESS: On the north side of West Bay Street in the Cable Beach area; SITE AREA: 146,256.21 sq. ft. or 3.36 acres GROSS FLOOR AREA: 9,806 sq. ft. ZONING: Single/multi-family residential; HIGHEST AND BEST USE: Multi-family residence; TYPE OF PROPERTY: Single family residence; ZONING: Single family/multi-family residential and resort development; HIGHEST AND BEST USE: Multi-family residential /resort development is the best use for land; SERVICES: City water, electricity, telephone lines and cable. Drainage by septic tank; NEIGHBOURHOOD: Cable Beach is a high income residential area, about ninety percent developed in single family houses, condominiums, timeshare developments and hotels with most buildings being over twenty years old. Values therein range from $150,000 to multi-million dollar hotels. Distances to grade school: 1 mile, high school: 6 miles, shopping: immediate, and downtown Nassau: 6 miles. OFF-SITE IMPROVEMENTS: West Bay Street is asphalt paved and has street lights; REMARKS: The property is located in a very convenient location in Cable Beach and is on the waterfront with a good quality beach. It is within short walking distance to the new Baha Mar resort.
  • 9. Investment Highlights : Geographical: 1. Easy access by air from America and Europe cities ( Miami, NY, London) 2. Idyllic climatic conditions. September to May, with temperatures averaging 21-24 Celsius, remainder of the year 26-30. 3. High visibility destination, ideal for luxury brand positioning; Political: 1. The Commonwealth of The Bahamas is one of the most politically stable countries in the world, with the constitution based on the Westminster Model. 2. Peaceful and stable democracy since 1729 Physical: 1. Land parcel is correct rectangular form; 2. 22 ft above sea level; 3. Zoned for residential/hotel/resort development; 4. Max build high up to 7 stories; 5. Essential services already on site; Economical: 1. Bahamas imposes no taxes on capital gains inheritance, corporate and personal income dividends and interest. 2. Sound economy guided by prudent fiscal policy. 3. Proactive incentives for investment. 4. Safe investment environment . 5. Essential public services and modern infrastructure.
  • 10. Market Opportunity: Declining Mortgages Rates: Construction Confidence: Tourism Activity: Tourism Numbers in mln: Tourism Increase 0.3 0.4 0.1 5.2 5.6 5.7 6 2010 2011 2012 2013 Gross Domestic Product ( GDP); The Bahamas enjoyed GDP growth of 3% p.a. from 1997 to 2007. Growth halted in 2008 (-2.3% GDP) and 2009 (-4.9% GDP), due to the global financial crisis. Growth was since recovered, with 0.9% growth in 2010, 0.9% and 2011, 2.5% (estimated) in 2012, and expansion of 2.7% expected in 2013. Rental Market: Nassau tends to have the highest average gross rental yields around 8%, while waterfront condominiums yield an average of around 7%.Monthly rents for waterfront condos in Nassau range from US$2,000 to US$ 5,000 per month.
  • 11. Building Green – increases asset value
  • 12. Business Structure: Developer Helios Group Asset Delivery Stage: Contractor Nominated Earthworks Asset Managers Nominated Substructure Nominated Superstructure Helios Group (Bahamas) Asset Management Stage: Business Operators Site Operations Lead Generators Promotions and marketing
  • 13. Strategic Alliances: Real Estate Sales and Marketing For Client Mortgages and development finance Legal associates
  • 14. Financial Modelling: Helios Apartments: Land Parcel and Proposed Unit Number for Development: Unit: Land Parcel Beach Front Size in Acres Size in Ha Size in sq/m 3,36 1,359 TOT Nr: Size sq/feet: 13,590 Price: 5,900,000.00 $ TOT Size in sq/feet: 146,361.60 209 linear feet Penthouse: 4 4600 18,400.00 3 bedrrom 20 2500 50,000.00 2 bedroom 20 1900 38,000.00 TOTAL area: 44 134,090.91 $ 106,400.00
  • 15. Construction Costs Assumptions per unit: Penthouse Hard costs sq/fee per 170.00 $ Size sq/foot 4,600.00 Soft Costs per sq/feet 60.00 $ TOT Number: 4.00 Land Acqusition cost per TOT costs per TOT per sq/foot unit sq/fee incl land 134,090.91 $ TOT cost p/apt 1,058,000.00 $ Land costs: 1,192,090.91 $ Size sq/foot: TOT Number: 2,500.00 Land costs: 3 bedroom apart 20.00 TOT costs: 2 bedroom apart TOT Construction Costs: 230.00 $ 134,090.91 $ TOT costs: TOT costs: Size sq/foot: 1,900.00 Land costs: TOT costs: 20.00 4,768,363.64 $ 283.64 $ 14,181,818.18 $ 300.57 $ 11,421,818.18 $ TOT cost p/apt: 575,000.00 $ 134,090.91 $ 709,090.91 $ TOT Number: 259.15 $ TOT cost p/apt: 437,000.00 $ 134,090.91 $ 571,090.91 $ Profesional fees: 1,000,000.00 $ Architecture/Desing/Landscaping: Site Set up/clearance: 30,372,000.00 $ 2,000,000.00 $ 2,000,000.00 $ Contingency @ 5%: 0.05 30,372,000.00 $ 1,518,600.00 $ 36,890,600.00 $
  • 16. TOT Construction Costs per Apt type 11,421,818.18 $ 2bedroom Nr: 20 - $ 14,181,818.18 $ 3bedroom Nr: 20 - $ 4,768,363.64 $ Penthouse Nr: 4 $0 $ 2,000,000 $ 4,000,000 $ 6,000,000 $ 8,000,000 $ 10,000,000 Penthouse Nr: 4 3bedroom Nr: 20 2bedroom Nr: 20 $ 12,000,000 $ 14,000,000 $ 16,000,000
  • 17. Additional Project Costs: Land Acquisitions: 0.025 Due diligence 2,5% 50:50 5,900,000.00 $ 73,750.00 $ 0.1 Stamp Duty @ 10% 590,000.00 $ Development Costs: 0.03 Sales and Marketing @ 3% 36,890,600.00 $ 1,106,718.00 $ 0.01 Extras @ 1% TOT additional costs: TOT Development Costs, excluding Depth Service: 368,906.00 $ 2,139,374.00 $ 39,029,974.00 $
  • 18. Loan to Value (LTV 70%-30%) Loan amount: Equity Amount: Depth and Equity Assumptions: 70% 27,320,981.80 $ 0.7 30% 11,708,992.20 $ TOT development Costs excluding depth service Annual Interest; TOTALS: 0.3 39,029,974.00 $ 0.02 Interest @ 2% Y1 26,774,562.16 $ 546,419.64 $ Interest @ 2% Y2 26,239,070.92 $ 535,491.24 $ Interest @ 2% Y3 25,703,579.68 $ 524,781.42 $ TOT interest: TOT Capital to repay: TOT Development Costs incl depth service: 1,606,692.30 $ 1,606,692.30 $ 28,927,674.10 $ 28,927,674.10 $ 40,636,666.30 $
  • 19. Development Costs by Group 11,225,400.13 $ Stake 1 3point interest: 11,708,992.20 $ Stakeholder 1Equity: 1,606,692.30 $ Senior 3Y Interest: 27,320,981.80 $ Senior Depth: 2,139,374.00 $ Additional Costs: 6,518,600.00 $ Additional Building Costs: 30,372,000.00 $ Building Costs: $- $ 5,000,000 $ 10,000,000 $ 15,000,000 $ 20,000,000 $ 25,000,000 $ 30,000,000 $ 35,000,000
  • 20. Sales Forecasts/Equity Accumulation: Current Market Valuation Land Price: Purchase Price: 5,900,000.00 $ Penthouse: Penthouse size: Price per unit: Cost to Build TOT Number Tree point average: 3 bedroom apt; 3 bedroom size: Price per unit: Cost to Build TOT Number: Tree point average: 2 bedroom apt; 2 bedroom size: Price per unit Cost to Build: TOT Number Tree point average: TOT Sales + Equity: TOT build cost incl land Low price sales sq/feet sq/feet Planning approved @ 15 increase 885,000.00 $ Medium price sales sq/feet Equity Accumulated 0.15 885,000.00 $ High price sales sq/feet 259.15 $ 4,600.00 1,192,090.91 4.00 4,768,363.64 $ 500.00 $ 4,600.00 2,300,000.00 4.00 9,200,000.00 $ 650.00 $ 4,600.00 2,990,000.00 4.00 11,960,000.00 $ 850.00 $ 4,600.00 3,910,000.00 4.00 15,640,000.00 $ 36,800,000.00 $ 283.64 $ 2,500.00 709,090.91 20.00 500.00 $ 2,500.00 1,250,000.00 20.00 650.00 $ 2,500.00 1,625,000.00 20.00 850.00 $ 2,500.00 2,125,000.00 20.00 14,181,818.18 $ 25,000,000.00 $ 32,500,000.00 $ 42,500,000.00 $ 100,000,000.00 $ 300.57 $ 1,900.00 500.00 $ 1,900.00 650.00 $ 1,900.00 850.00 $ 1,900.00 571,090.91 20.00 950,000.00 20.00 1,235,000.00 20.00 11,421,818.18 $ 19,000,000.00 $ 53,200,000.00 $ 24,700,000.00 $ 69,160,000.00 $ 1,615,000.00 20.00 12,266,666.67 $ 33,333,333.33 $ 76,000,000.00 $ 25,333,333.33 $ 32,300,000.00 $ 90,440,000.00 $ 71,818,333.33 $
  • 21. Cash Flow Projections: Period Ending: Month: Sales Proceeds 3point avg: Cashflows for a period of 36months: From 1/05/2013 - 1/05/2016; Jun-13 Jul-13 Aug-13 Sep-13 2.0 3.0 4.0 5.0 2,244,322.92 $ May-13 1.0 Oct-13 6.0 2,244,322.9 $ TOT Development Costs, exc, Depth Service: Land parcel Purchase: Due Dilligence: Stamp Duty: Profesional Fees: Architec/Design/Landscap Site set up/work/clearance Contingency Fund: Building Costs: Other Project Costs: Sales and Marketing: Extras: TOT project costs: Depth Repayments: Senior Loan Interest: Senior Loan : Balance Left: Stakeholder 1 Equity: Stake Interest 3point aver Balance Left: Cash Balance left: -10,000.00 $ -1,000.00 $ - $ -1,000.00 $ -2,950,000.0 $ -41,875.0 $ -295,000.0 $ -10,000.0 $ -5,000.0 $ - $ -1,000.0 $ -2,950,000.0 $ -31,875.0 $ -295,000.0 $ -30,000.0 $ -15,000.0 $ -58,823.5 $ -1,000.0 $ -1,000.00 $ -10,000.0 $ -1,000.0 $ -2,000.0 $ -10,000.0 $ -1,000.0 $ -3,000.0 $ -31,297.7 $ -1,000.0 $ -33,718.7 $ -31,297.7 $ -1,000.0 $ -30,000.0 -30,000.0 -58,823.5 -47,612.5 -949,125.0 -33,718.7 -31,297.7 -11,653.3 -34,000.0 $ -3,315,875.0 $ -3,416,996.3 $ -171,840.0 $ -1,192,230.8 $ -1,228,876.0 $ 50,209.1 $ 853,780.7 $ 26,416,992.0 $ 365,906.0 $ - $ 11,343,086.2 $ 50,209.1 $ 853,780.7 $ 25,513,002.2 $ 365,906.0 $ - $ 10,977,180.2 $ 974,427.09 $ 974,427.09 $ -10,000.0 $ - $ $ $ $ $ $ -34,000.00 $ - $ $ $ $ $ $ -3,315,875.00 $ - $ $ $ $ $ $ -3,416,996.25 $ -30,000.0 -15,000.0 -58,823.5 -2,000.0 - $ $ $ $ $ $ $ $ $ $ -171,839.98 $ $ $ $ $ $ $ $ $ -30,000.0 -66,645.2 -58,823.5 -47,612.5 -949,125.0 -33,718.7 -31,297.7 -11,653.3 $ $ $ $ $ $ $ $
  • 22. Cash Flow Projections: Period Ending: Month: Sales Proceeds 3point avg: Nov-13 7.0 Dec-13 8.0 Jan-14 9.0 Feb-14 10.0 Mar-14 11.0 Apr-14 12.0 2,244,322.9 $ 2,244,322.92 $ 2,244,322.92 $ 2,244,322.92 $ 2,244,322.92 $ 2,244,322.92 $ - $ - $ - $ -30,000.0 $ -66,645.16 $ -58,823.53 $ -47,612.50 $ -949,125.0 $ -33,718.73 $ -31,297.72 $ -11,653.31 $ - $ - $ - $ -30,000.0 $ -66,645.2 $ -58,823.5 $ -47,612.5 $ -949,125.0 $ -33,718.7 $ -31,297.72 $ -11,653.31 $ - $ - $ - $ -30,000.0 $ -66,645.2 $ -58,823.5 $ -47,612.5 $ -949,125.0 $ -33,718.7 $ -31,297.72 $ -11,653.31 $ - $ - $ - $ -30,000.0 $ -66,645.2 $ -58,823.5 $ -47,612.5 $ -949,125.0 $ -33,718.7 $ -31,297.72 $ -11,653.31 $ - $ - $ - $ -30,000.0 $ -66,645.2 $ -58,823.5 $ -47,612.5 $ -949,125.0 $ -33,718.7 $ -31,297.72 $ -11,653.31 $ - $ - $ - $ -30,000.0 $ -66,645.2 $ -58,823.5 $ -47,612.5 $ -949,125.0 $ -33,718.7 $ -31,297.72 $ -11,653.31 $ -1,228,876.0 $ -1,228,876.0 $ -1,228,876.0 $ -1,228,876.0 $ -1,228,876.0 $ -1,228,876.0 $ 50,209.1 $ 853,780.7 $ 10,073,190.4 $ 365,906.01 $ - $ 10,611,274.18 $ 50,209.13 $ 853,780.68 $ 9,169,200.56 $ 365,906.0 $ - $ 10,245,368.2 $ 50,209.13 $ 853,780.68 $ 8,265,210.74 $ 365,906.0 $ - $ 9,879,462.2 $ 50,209.13 $ 853,780.68 $ 7,361,220.93 $ 365,906.0 $ - $ 9,513,556.2 $ 50,209.13 $ 853,780.68 $ 6,457,231.11 $ 365,906.0 $ - $ 9,147,650.2 $ 50,209.13 $ 853,780.68 $ 5,553,241.29 $ 365,906.0 $ - $ 8,781,744.2 $ 974,427.1 $ 974,427.1 $ 974,427.1 $ 974,427.1 $ 974,427.1 $ 974,427.1 $ TOT Development Costs, exc, Depth Service: Land parcel Purchase: Due Dilligence: Stamp Duty: Profesional Fees: Architec/Design/Landscap Site set up/work/clearance Contingency Fund: Building Costs: Other Project Costs: Sales and Marketing: Extras: TOT project costs: Development Funding: Senior Loan Interest: Senior Loan: Balance Left: Stakeholder 1 Equity: Stake Interest 3point aver Balance Left: Cash Balance left:
  • 23. Profit/Loss TOT project sales: Profit Before Taxation: Profit Before Costs: Low price sales Medium price sales 54,085,000.00 $ 13,448,333.70 $ 70,045,000.00 $ 29,408,333.70 $ 124.74% 76.73% 75.35% 129.87% 79.89% (Subject to company structure) 29,408,333.70 $ 31,181,667.04 $ 0.75 0.75 30,477,499.72 $ 30,477,499.72 $ 536,534.10 $ 899,261.37 $ 1,382,897.73 $ 939,564.40 $ 0.25 10,159,166.57 $ 0.25 10,159,166.57 $ 18.93 0.25 10,159,166.57 $ 11.30 0.25 10,159,166.57 $ 7.35 10.81 1,229,204.55 $ 1,591,931.82 $ 2,075,568.18 $ 1,632,234.85 $ 23,274,743.95 $ 17,984,427.06 $ 15,247,723.95 $ Investment Performace: 17,648,759.05 $ Y1, 2013, 4months -11,708,992.20 $ -11,708,992.20 $ Y3,2015,12months Y4, 2016,4months 26,931,875.00 $ 26,931,875.00 $ 8,977,291.67 $ 0.833 7,478,083.96 $ 0.3 -11,708,992.20 $ Y2,2014, 12months 8,977,291.67 $ 1 Extraction of 30% equity: Present Value of Cashflow: 50,688,333.70 $ 0.75 30,477,499.72 $ PV factor (@20%) Present Value of Cashflow: - $ 30,477,499.72 $ Y0 Cash Flow Summary: - $ 0.75 Breakeven in Unit Number: Breakeven in USD: - $ 13,448,333.70 $ Conribution per apartment Apt, everage sales price: 71,818,333.33 $ 31,181,667.04 $ 72.37% - $ Fixed Costs: 25% of TOT develop cost incl depth 91,325,000.00 $ 50,688,333.70 $ 34.46% Taxation on profits : Variable Costs: 75% of TOT develop cost incl depth Sales 3point average 33.09% Profit on Costs ex depth NET profit: High price sales 0.694 18,690,721.25 $ 0.579 0.482 15,593,555.63 $ 2,693,187.50 $ 8,079,562.50 $ 8,079,562.50 $ 2,243,425.19 $ 5,607,216.38 $ 4,678,066.69 $ $ 4,327,054.58 $ 2,693,187.50 1,298,116.38 $ $ 2,117,832.43 Net Present Value (NPV): Internal Rate of Return (IRR); -11,708,992.20 $ 2,693,187.50 $ 8,079,562.50 $ 8,079,562.50 $ $ 2,693,187.50 28.86%
  • 24. NET profit Distribution: Equity lended: Profit + Risk Margin @ 20% of NET sales TOT Repaid: ROI per annum 0.2 ROI per annum % TOT ROI % 3 Stakeholder Nr 1: $ 11,708,992.20 Low Sale profits: $ 11,708,992.20 $ 2,689,666.74 $ 14,398,658.94 $ 896,555.58 7.66% 22.97% Medium sale profits: $ 11,708,992.20 $ 5,881,666.74 $ 17,590,658.94 $ 1,960,555.58 16.74% 50.23% High Sale profits: $ 11,708,992.20 $ 10,137,666.74 $ 21,846,658.94 $ 3,379,222.25 28.86% 86.58% Three Point Average: $ 11,708,992.20 $ 6,236,333.41 $ 17,945,325.61 $ 2,078,777.80 17.75% 53.26% TOT Development Costs vs. Sales and NET profits 40,636,666.30 $ TOT Development Costs 71,818,333.33 $ 3 Point Average Sales 28,063,500.33 $ 91,325,000.00 $ High Sales 70,045,000.00 $ Medium Sales 26,467,500.33 $ 12,103,500.33 $ 54,085,000.00 $ Low Sales $- $ 20,000,000 $ 40,000,000 45,619,500.33 $ $ 60,000,000 $ 80,000,000 $ 100,000,000 $ 120,000,000 $ 140,000,000
  • 25. Alternative Strategy: Alternative Option: Actual Price: Land Purchase: $ 5,900,000.00 Purchase Costs: $ 663,750.00 $ Project preparation: 300,000.00 Planning fees: $ 30,000.00 TOT Costs: $ 6,893,750.00 Resale Option: $ 7,778,750.00 Return: 12.84% Invetsment Duartion: 6months Investment Comparison: Duration in years: Capital Invested: Security Level: 20% NET Profit Share: Low Sales: Real Estate Development: Medium Sales: High Sales: 3 3 3 $ 11,708,992.20 Capital Repaid: $ 11,708,992.20 $ 11,708,992.20 Alternative Investment Options: Irish Bonds: Germany Bonds: Persion Sheme: 3 $ 11,708,992.20 3 $ 11,708,992.20 3 $ 11,708,992.20 Medium/High Medium/High Medium/High Low/Medium Low/Medium Low/Medium 20 20 20 0 0 0 Projected Returns in 3 year $ 2,689,666.74 time: Return per annum: 7.66% TOT 3Y Return: Potential increase @15% $ 885,000.00 22.97% $ 14,398,658.94 $ 5,881,666.74 $ 10,137,666.74 $ 1,462,031.60 $ 716,683.99 $ 1,652,913.06 16.74% 28.86% 4.00% 2.00% 4.50% 50.23% 86.58% 12.00% 8.00% 13.50% $ 17,590,658.94 $ 21,846,658.94 $ 13,171,023.80 $ 12,425,676.19 $ 13,361,905.26
  • 26. Proposed Building Shape and Sustainability Concept
  • 27. Proposed Building Shape and Sustainability Concept
  • 28. Apartment Features: •Beach and Ocean views; •100% independent, renewable energy for cooling, lighting; •Full back up power generator; •Floor to ceiling windows; •Porcelain floor tiling; •Granite kitchen surface with solid wood cabinetry; •Smart energy management system; •Electric hurricane shutters; •Marble bathroom vanity surface; •Contemporary furniture and designer service to serve clients needs; •Interned and digital TV wiring;
  • 29. Proposed Interior Design :
  • 30. Proposed Exterior Design:
  • 31. Development Features:
  • 32. Action Plans:
  • 33. Bahamas – Notable Residents: •Nicolas Cage - owns estate residence on Paradise Island and a private island in the Exuma chains; •Johnny Depp - owns private island; •Tiger Woods - owns the Albany Estate; •Joe Lewis - British billionaire (347th richest person on Forbes list of billionaires), owns a property in Lyford Cay; •Mariah Carey - owns a house on Windermere, a private island connected to Eleuthera; Bahamas Video : http://www.youtube.com/watch?v=rbY4AjafLdY http://www.youtube.com/watch?v=m_Ln73W2RyU
  • 34. Required capital amount will be secured against land parcel, which is located in Bahamas, Nassau New Providence; Capital release will be monitored by escrow Capital Security; account fiduciary which will be nominated by Helios and Stakeholder 1 agreement; Escrow facility will be used as security feature for international investor capital withdrawals when project evolves into construction stage; Due to high energy efficiency, strategic geographic location, contemporary design, attractive economic fiscal policies, bank willingness to lend for local and Income Security: international buyers and scarcity of high end serviced apartments on the island, the project will attract upper class clients from USA, China, Russia, Germany, Canada as lucrative investment opportunity, therefore sales of the units will start right after all necessary local authority approvals are issued; Inflation in 2012/July was recorded at 2.1%. The proposed development profit share is well secured against inflation and stands @ fixed 20% NET profit share. Risk Inflation: against inflating labour, materials and service prices will be limited through contractual obligations. This investment is not a subject to capital growth for the stakeholder 1. Capital appreciation will be felt after completion for the product end user and tend to Capital increase @ 3% after project is accomplished. Income generating from business-vacation rentals is subject to increase commensurate to yearly inflation levels. Growth: Structural Risk – will be monitored through contracts, and well established building contractors; Legislative Risk – project will imply LEED platinum energy ranking methods, design and management procedures; this will guarantee that increasing environmental standards will be met well in advance; Taxation – Bahamas imply no taxation on income received from capital gains, interest, inheritance, corporate or personal income. It is attractive investment location. Risk profile: Default by the contractor – retention from nominated contractor will be required before to work commencement. Stagnant Sales – having in mind that development will contain only 44 high class units, sales distribution network will be developed well in advance, where off plan sales will be offered at certain discount with 70% financial assistance from local banking partners. The attractive incentive is that properties purchased above $500k, allows owners to become a resident of Bahamas and enjoy residency privileges stay in the country all year around. This option is attractive to Russian speaking economies.
  • 35. http://www.thenassauguardian.com/index.php?option=com_c ontent&view=article&id=37802:top-firm-eyes-luxury-propertyboom&catid=40:business&Itemid=2

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