This document provides a pre-feasibility study for a proposed mixed-use tower development in Al-Warsan, Dubai. Key details include: - The development will include retail shops on the ground floor and residential units on upper floors. - Total investment is estimated at AED 41.6 million, with construction costs accounting for over 60% of expenses. - Annual rental income is projected to reach AED 4.7 million by the 15th year of operations. - The development is expected to break even within 13 years and provide a 10.31% return on investment.

1. Pre-Feasibility Study for a Mixed-Use Tower in Al-Warsan, International City, Dubai - UAE
TARIQ AL-BASHA 1

2. Pre-Feasibility Study for a Mixed-Use Tower in Al-Warsan, International City, Dubai - UAE
TARIQ AL-BASHA 2
Contents
Executive Summary.......................................................................................................................................................................................................................... 3
Investment Summary ....................................................................................................................................................................................................................... 4
Plot Size & Price................................................................................................................................................................................................................................ 5
Built-up Area & Construction Price................................................................................................................................................................................................... 5
Building Uses.................................................................................................................................................................................................................................... 6
Unit Details....................................................................................................................................................................................................................................... 7
Retail Shops.................................................................................................................................................................................................................................. 7
Residential Units........................................................................................................................................................................................................................... 7
Occupancy Rate................................................................................................................................................................................................................................ 8
Retail ............................................................................................................................................................................................................................................ 8
Residential.................................................................................................................................................................................................................................... 8
Rent Income Projections .................................................................................................................................................................................................................. 9
Price Growth Forecast.................................................................................................................................................................................................................. 9
Rent Income ............................................................................................................................................................................................................................... 10
Cash In & Out ................................................................................................................................................................................................................................. 11

3. Pre-Feasibility Study for a Mixed-Use Tower in Al-Warsan, International City, Dubai - UAE
TARIQ AL-BASHA 3
Executive Summary
Total
Investment
AED 41.6 Million
Investment
Type
Commercial/Residential
Payback
Period
13 Years from
Operations
ROI
10.31%

4. Pre-Feasibility Study for a Mixed-Use Tower in Al-Warsan, International City, Dubai - UAE
TARIQ AL-BASHA 4
Investment Summary
# Entry Amount VAT Additional Fees Total % Note
AED 5% AED
1 Plot Price 12,892,023.60 - - 12,892,023.60
2 Real Estate Agency Fee 257,840.47 12,892.02 - 270,732.50 2% of Property Purchase Price
3 Dubai Land Department Fee 515,680.94 - 580.00 516,260.94 4% of Property Purchase Price
4 Property Registration Fee 4,000.00 200.00 - 4,200.00 Above AED 500K
5 Construction Cost 24,599,740.00 1,229,987.00 - 25,829,727.00
6 Construction Management Fees 1,967,979.20 98,398.96 - 2,066,378.16 8% of Property Construction Cost
Total 40,237,264.22 1,341,477.98 580.00 41,579,322.20
Upfront Fees to buy a complete property in Dubai:
- Dubai Land Department Fee: 4% of property purchased price, plus an AED 580 Admin fee.
- Property Registration Fee:
o For properties below AED 500,000: AED 2,000 plus VAT 5%
o For properties above AED 500,000: AED 4,000 plus VAT 5%
- Real estate agency fee: Typically, 2% of the property value, plus VAT 5%.
- Bank mortgage arrangement fee: Usually, up to 1% of the loan amount, plus VAT 5%.
- Dubai Land Department mortgage registration fee: 0.25% of the loan amount, plus AED 290.
- Property valuation fee: ranges from AED 2,500 to AED 3,500, plus VAT 5%.

5. Pre-Feasibility Study for a Mixed-Use Tower in Al-Warsan, International City, Dubai - UAE
TARIQ AL-BASHA 5
Plot Size & Price
# Land Size Square Feet Square Meter Price Per SqFt Price Per Sqm Total Price
SqFt Sqm AED AED AED
1 Plot #1 15,721.98 1,460.62 820.00 8,826.41 12,892,023.60
Total 15,721.98 1,460.62 12,892,023.60
Built-up Area & Construction Price
# Built-up Area Square Feet Square Meter Price Per SqFt Price Per Sqm Total Price
SqFt Sqm AED AED AED
1 Plot #1 111,817.00 10,388.14 220.00 2,368.06 24,599,740.00
Total 111,817.00 10,388.14 24,599,740.00

6. Pre-Feasibility Study for a Mixed-Use Tower in Al-Warsan, International City, Dubai - UAE
TARIQ AL-BASHA 6
Building Uses
# Building Uses Square Feet Square Meter Allocations Uses Gross Leasable Area
SqFt Sqm % GLA %
1 1st Podium Floor 10,165.18 944.38 9.09% Car Parking 0.0%
2 2nd Podium Floor 10,165.18 944.38 9.09% Car Parking 0.0%
3 Ground Floor 10,165.18 944.38 9.09% Retail Shops 58.2%
4 1st Floor 10,165.18 944.38 9.09% Residential 86.6%
5 2nd Floor 10,165.18 944.38 9.09% Residential 86.6%
6 3rd Floor 10,165.18 944.38 9.09% Residential 86.6%
7 4th Floor 10,165.18 944.38 9.09% Residential 86.6%
8 5th Floor 10,165.18 944.38 9.09% Residential 86.6%
9 6th Floor 10,165.18 944.38 9.09% Residential 86.6%
10 7th Floor 10,165.18 944.38 9.09% Residential 86.6%
11 Top Roof 10,165.18 944.38 9.09% Gym + Swimming Pool 0.0%
Total 111,817.00 10,388.14 100.00%
Floor-Area Ratio (FAR) 7.11 7.11

7. Pre-Feasibility Study for a Mixed-Use Tower in Al-Warsan, International City, Dubai - UAE
TARIQ AL-BASHA 7
Unit Details
Retail Shops
# Entry Square Feet Square Meter No. of Shops Square Feet Square Meter Allocation Annual Rent Per Unit All Units Concentration
Retail SqFt Sqm # SqFt Sqm % AED/SqFT AED AED %
1 Shop Style A 493.33 45.83 12.00 5,920.00 549.99 100% 75.00 37,000 444,000 100%
Total 493.33 45.83 12.00 5,920.00 549.99 100% 37,000 444,000 100%
Residential Units
# Entry Square Feet Square Meter No. of Apartments Square Feet Square Meter Allocation Annual Rent Per Unit All Units Concentration
Residential SqFt Sqm # SqFt Sqm % AED/SqFT AED AED %
1 Studio 400.00 37.16 14.00 5,600.00 520.26 9% 62.50 25,000 350,000 12%
2 1-Bedroom 800.00 74.32 28.00 22,400.00 2,081.03 36% 50.00 40,000 1,120,000 39%
3 2-Bedroom 1,200.00 111.48 28.00 33,600.00 3,121.54 55% 41.67 50,000 1,400,000 49%
Total 2,400.00 222.97 70.00 61,600.00 5,722.83 100% 115,000 2,870,000 100%

8. Pre-Feasibility Study for a Mixed-Use Tower in Al-Warsan, International City, Dubai - UAE
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Occupancy Rate
Retail
# Entry Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y11 Y12 Y13 Y14 Y15
Retail
1 Shop Style A - - 8 10 11 12 12 12 12 12 12 12 12 12 12
Total - - 8 10 11 12 12 12 12 12 12 12 12 12 12
Occupancy Rate 0% 0% 67% 83% 92% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Residential
# Entry Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10 Y11 Y12 Y13 Y14 Y15
Residential
1 Studio - - 10 12 14 14 14 14 14 14 14 14 14 14 14
2 1-Bedroom - - 20 24 27 27 27 27 28 28 28 28 28 28 28
3 2-Bedroom - - 20 24 27 27 27 27 28 28 28 28 28 28 28
Total - - 50 60 68 68 68 68 70 70 70 70 70 70 70
Occupancy Rate 0% 0% 71% 86% 97% 97% 97% 97% 100% 100% 100% 100% 100% 100% 100%

9. Pre-Feasibility Study for a Mixed-Use Tower in Al-Warsan, International City, Dubai - UAE
TARIQ AL-BASHA 9
Rent Income Projections
Price Growth Forecast
# Annual Growth Retail Shops Studios 1-Bedroom 2-Bedroom
Year 1 0% 37,000.00 25,000.00 40,000.00 50,000.00
Year 2 0% 37,000.00 25,000.00 40,000.00 50,000.00
Year 3 0% 37,000.00 25,000.00 40,000.00 50,000.00
Year 4 3% 38,110.00 25,750.00 41,200.00 51,500.00
Year 5 3% 39,253.30 26,522.50 42,436.00 53,045.00
Year 6 3% 40,430.90 27,318.18 43,709.08 54,636.35
Year 7 3% 41,643.83 28,137.72 45,020.35 56,275.44
Year 8 3% 42,893.14 28,981.85 46,370.96 57,963.70
Year 9 3% 44,179.93 29,851.31 47,762.09 59,702.61
Year 10 3% 45,505.33 30,746.85 49,194.95 61,493.69
Year 11 3% 46,870.49 31,669.25 50,670.80 63,338.50
Year 12 3% 48,276.61 32,619.33 52,190.93 65,238.66
Year 13 3% 49,724.91 33,597.91 53,756.66 67,195.82
Year 14 3% 51,216.65 34,605.85 55,369.35 69,211.69
Year 15 3% 52,753.15 35,644.02 57,030.44 71,288.04

10. Pre-Feasibility Study for a Mixed-Use Tower in Al-Warsan, International City, Dubai - UAE
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Rent Income
# Entry Retail Shops Studios 1-Bedroom 2-Bedroom Total
Year 1 Rent Income - - - - -
Year 2 Rent Income - - - - -
Year 3 Rent Income 296,000 250,000 800,000 1,000,000 2,346,000
Year 4 Rent Income 381,100 309,000 988,800 1,236,000 2,914,900
Year 5 Rent Income 431,786 371,315 1,145,772 1,432,215 3,381,088
Year 6 Rent Income 485,171 382,454 1,180,145 1,475,181 3,522,952
Year 7 Rent Income 499,726 393,928 1,215,550 1,519,437 3,628,640
Year 8 Rent Income 514,718 405,746 1,252,016 1,565,020 3,737,500
Year 9 Rent Income 530,159 417,918 1,337,339 1,671,673 3,957,089
Year 10 Rent Income 546,064 430,456 1,377,459 1,721,823 4,075,802
Year 11 Rent Income 562,446 443,370 1,418,782 1,773,478 4,198,076
Year 12 Rent Income 579,319 456,671 1,461,346 1,826,682 4,324,018
Year 13 Rent Income 596,699 470,371 1,505,186 1,881,483 4,453,739
Year 14 Rent Income 614,600 484,482 1,550,342 1,937,927 4,587,351
Year 15 Rent Income 633,038 499,016 1,596,852 1,996,065 4,724,972
Total 6,670,826 5,314,727 16,829,589 21,036,986 49,852,127

11. Pre-Feasibility Study for a Mixed-Use Tower in Al-Warsan, International City, Dubai - UAE
TARIQ AL-BASHA 11
Cash In & Out
Entry Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15
Cash In AED AED AED AED AED AED AED AED AED AED AED AED AED AED AED
Retail Tenants - - 296,000 381,100 431,786 485,171 499,726 514,718 530,159 546,064 562,446 579,319 596,699 614,600 633,038
Residential Tenants - - 2,050,000 2,533,800 2,949,302 3,037,781 3,128,914 3,222,782 3,426,930 3,529,738 3,635,630 3,744,699 3,857,040 3,972,751 4,091,934
Total Cash In Annually - - 2,346,000 2,914,900 3,381,088 3,522,952 3,628,640 3,737,500 3,957,089 4,075,802 4,198,076 4,324,018 4,453,739 4,587,351 4,724,972
Total Cash In Cumulative - - 2,346,000 5,260,900 8,641,988 12,164,940 15,793,581 19,531,080 23,488,169 27,563,971 31,762,048 36,086,066 40,539,805 45,127,156 49,852,127
Cash Out
Land Cost 13,679,017
Construction Costs 10,331,891 15,497,836
Construction Management 826,551 1,239,827
Operating Expenses - - 187,680 233,192 270,487 281,836 290,291 299,000 316,567 326,064 335,846 345,921 356,299 366,988 377,998
Total Cash Out Annually 24,837,459 16,737,663 187,680 233,192 270,487 281,836 290,291 299,000 316,567 326,064 335,846 345,921 356,299 366,988 377,998
Total Cash Out Cumulative 24,837,459 41,575,122 41,762,802 41,995,994 42,266,481 42,548,317 42,838,609 43,137,609 43,454,176 43,780,240 44,116,086 44,462,007 44,818,307 45,185,295 45,563,292
Total Net Cash Annually (24,837,459) (16,737,663) 2,158,320 2,681,708 3,110,601 3,241,116 3,338,349 3,438,500 3,640,522 3,749,738 3,862,230 3,978,097 4,097,440 4,220,363 4,346,974
Total Net Cash Cumulative (24,837,459) (41,575,122) (39,416,802) (36,735,094) (33,624,493) (30,383,377) (27,045,028) (23,606,528) (19,966,006) (16,216,268) (12,354,038) (8,375,942) (4,278,502) (58,139) 4,288,835
Annual ROI -59.74% -40.25% 5.19% 6.45% 7.48% 7.80% 8.03% 8.27% 8.76% 9.02% 9.29% 9.57% 9.85% 10.15% 10.45%
Cumulative ROI -59.74% -99.99% -94.80% -88.35% -80.87% -73.07% -65.04% -56.77% -48.02% -39.00% -29.71% -20.14% -10.29% -0.14% 10.31%