3 LABOUR ACCOMMODATION PROJECTS DUBAI … Sales.pdfdubai free zone jebelali beaches improvement...

3 LABOUR ACCOMMODATION PROJECTS DUBAI INVESTMENT PARK

DUBAI, UAE

PROJ ECT: LABOUR ACCOMMODAT I ON - DI P, DUB AI , UNI TED ARAB EMI RATESCHASE DE VERE

• Three Labour Accommodation Projects Strategically located in Dubai Investment Park, Dubai.

• 30 year leases, renewable to 90 years. Projects available for sale on a tenanted or vacant possession basis.

• Individual projects available as tenanted concerns with 3-5 year full insuring & repairing leases.

• Total projects offered for sale at AED 139 Million providing a 13.5% net yield, based on Estimated Rental Values.

Introduction


Chase De Vere, on behalf of their in-house private clients, has under-taken the development of 3 high quality labour accommodation projects in the Middle East’s financial and industrial hub, Dubai.

These facilities are now offered for sale on an individual turn-key basis, with the option for each project to be handed over either tenanted or as a vacant possession. Completion / Hand-over are scheduled by end of July 2008.

BACKGROUND

Dubai Municipality and the UAE Government are taking active measures to enforce stricter regulations for the protection of labourer’s rights, particularly standards of accommodation. As a consequence, more than 150 sub-standard ‘labour camps’ have been closed in the past three months alone.

Further drivers include Dubai’s hosting of a number of world class development projects. The projects underway have 15-20 year construction horizons and considerable labourer numbers will be required, adding to an already widely acknowledged significant shortage of supply.

These factors have resulted in a 30% increase of labour accommodation rental yields in the last 12 months and this trend is expected to continue for the foreseeable future.

Chase De Vere, over the past two years have recognized this opportunity and have commissioned the construction of 3 individual projects strategically located in the development heartland of Dubai.


• Dubai’s decision to shift from an oil dependent economy to a more diversified one has inspired the development of one of the most dynamic business environments anywhere.

• The economy is predominantly service orientated with favourable taxation advantages.

• With a superb and constantly improving infrastructure Dubai is the natural choice for many multi-nationals giving access to over 2 billion consumers within 3 hours flying range. Amongst others, companies such as Haliburton, Shlumberge, Microsoft, AT & T, Western Union and Belkin have decided to relocate their regional headquarters to Dubai in recent years.

• Mainstays of this rapid economic growth are, trade, construction, tourism and financial services. An indication of the success of diversification is that in 2006 the oil sector accounted for only 3 per cent of Dubai’s GDP


All three of our Accommodation Projects are located in Dubai Investment Park, which is an environmentally friendly mixed-use and self-contained city, which combines industrial, business, residential and recreational areas across a 32,000 hectare site. Located some 5km from the proposed Jebel Ali International Airport and with fast access to motorways and the Jebel Ali port, a staggering 5 billion AED has already been invested into the Park, making it one of the premier locations within the Middle East. The Park is fully self-supporting, with power and water supplies as well as other state-of-the-art amenities and services.

The developments currently underway, as well as proposed projects are truly staggering in size and scope …Jebel Ali International Airport will be one of the largest airports in the world able to handle 120m passengers per year and will also be a major cargo hub.

Jebel Ali Palm Island, Dubai Waterfront, and the Arabian Canal are just some of the projects in the immediate vicinity of Dubai Investment Park. City of Arabia alone will accommodate one of the largest theme parks along with the largest shopping mall in the world.

The proximity to Dubailand with its numerous projects including Al Bawadi which is destined to be, at 10km, the longest strip of 5 star hotels in the world coupled with numerous theme parks and mixed use “cities” such as Sports City and Studio City puts DIP at the very heart of the most ambitious and dynamic development schemes in the world.

INTERNATIONAL AIRPORTJEBEL ALI

TO ABU DHABI

AID CITY

GREENCOMMUNITY

JUMEIRAHISLAND

DUBAIINVESTMENT

PARK

JEBEL ALIBUSINESS CENTRE

SPORTSCITY

SILICONOASIS

TRUCKZONE

DUBAIHEALTHCARE

CITY

SHEIKH ZAYED RD.

EMIRATES RD..

INTERNATIONALCITY

DUBAIFESTIVAL

CITY

DUBAIINTERNATIONAL

AIRPORT

TO SHARJAH

AREID

ACADEMICCITY

DUBAILAND

ARABIANVILLAGE

THE GARDENS

DISCOVERYGARDENS

MARINA

JUMEIRAHPALM

THEWORLD

DIERAPALM

SPRINGSMEADOWS

GREENSLAKES

JEBEL ALIPALM

TECHNOLOGYPARK

DUBAI FREE ZONE

JEBEL ALI BEACHESIMPROVEMENT PROJECT


LABOUR ACCOMMODATION


The designated plots were acquired under 30 year head leases, renewable up to 90 years. Buildings are constructed as G+2 - to the highest possible quality standards and in accordance with Dubai Municipality’s strict building guidelines.

Ownership of these projects is open to GCC nationals, locally owned LLC companies or foreign investments via 51%-49% locally sponsored LLC vehicles. Foreign investment advice can be provided through our retained legal advisers DLA Piper (Middle East).

132 ROOMS

ROOM TYPE

TYPE 1

TYPE 2

TOTAL

ROOM SQ FT

248.75

168.00

KITCHEN

DINING

SALE PRICE: AED 47.6m at 13.5% RETURN

515.27

1570.56

1

1

PERSONS

6

4

QTY OF ROOMS

10

120

130

TOTAL PERSONS

62

504

566

AMOUNT PER ROOMAED / MONTH

4,400

4,100

TOTAL INCOMEPER RM / PER MNTH

44,000

492,000

536,000

TOTAL INCOMEPER ANNUM

528,000

5,904,000

6,432,000

AVE COST PER PERSONPER ROOM PER MONTH

ROOM TYPE ROOM SQ FT PERSONS QTY OF ROOMS TOTAL PERSONS AMOUNT PER ROOMAED / MONTH




708

976


132 ROOMS

ROOM TYPE

TYPE 1

TYPE 2

TOTAL

ROOM SQ FT

248.75

168.00

KITCHEN

DINING


515.27

1570.56

1

1

PERSONS

6

4

QTY OF ROOMS

10

120

130

TOTAL PERSONS

62

504

566


4,400

4,100


44,000

492,000

536,000


528,000

5,904,000

6,432,000






708

976



type of roomarea of room

sq.mt.area of room

sq.ft.no of room

G+F+Stotal no of rooms

G+F+STotal Area

sq.mt.Total Area

sq.ft.

1 13.279 142.93 2+4+4 10 132.79 1,429.3

2 15.606 167.78 22+31+31 84 1,310.90 14,110.32

TOTAL BUILT UP AREA 4,335.45 46,666.35

CALCULATIONS

G+2 LABOUR ACCOMMODATION BLDG.ON PLOT No. 970-003 AT DIP

29+49+49TOTAL CARPET AREA 122 2,000.126 21,529.00

DINING 127.69 1,374.44 1+0+0 1 179.00 1,374.44KITCHEN 40.607 436.93 1+0+0 1 40.607 436.93

3 20.038 215.68 0++1+1 2 40.076 431.36

4 19.86 213.77 0+13+13 26 516.36 5,558.02

ROOM TYPE

TYPE 1

TYPE 2

TOTAL

ROOM SQ FT

142.93

167.98

KITCHEN

DINING


124 ROOMS

436.93

1374.44

1

1

PERSONS

3

4

QTY OF ROOMS

10

84

122

TOTAL PERSONS

30

336

516


3,900

4,100


39,000

344,400

503,800


468,00

4,132,800

6,045,000






1300

1025

TYPE 1

TYPE 2

215.68

213.77

5

5

2

26

11

139

4,300

4,300

8,600

111,800

103,200

1,341,600

797

805


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