Al salam mall jun 2011

1DEVELOPMENT 2010

Carrefour Market

AL SALAM MALLKuwait

Project description

Jun 2011

Development Qatar Kuwait 2011

2DEVELOPMENT 2010Development Qatar Kuwait 2011

TABLE OF CONTENTS : Page

1. Project geographical location ……………..3- Country map

- City map - Google map - Competition update

2. Project general description ……………….9- Environment- Description of the premises

3. Project proposal ……………………….12- Landlord- Layout

- Proposed agreement (Size, Rent rules, Service charges)

4. Sales estimate …………………………….....205. Feasibility study ………………………….....23

- Summary KPIs and competition - Profit and loss - Balance sheet - Cash flow - Benchmarking - Sensitivity analysis

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Avenues

Express Jahra

Site location on Kuwait map

FINTAS


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Al Salam Mall Salmiya


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Number of competitor Supermarkets in the Area

Competitor name Sales Area

1 AG MART 5,000 MSQ

Carrefour Market 1,800 MSQ

2 City center 10,000 MSQ

3 TSC to be demolished later 5,000 MSQ

4 Carrefour Market 2,500 MSQ

4 TSC opening 2013 9,000 MSQ

5 Geant Easy 3,000 MSQ

6 Gulf Mart 800 MSQ

7 Co-op 3,000 MSQ

Competition update


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To be demolished

To open in 2013



Project rank : 1. This project will be 2nd approved Carrefour market in Kuwait.2. 1 Hyper and 1 Carrefour market are opened Kuwait and 1 Carrefour market secured will open in 2012.

Project location• Al Salam mall is located in the iconic Salem Al Mubarak street,

Description of the Mall: • Shopping Mall with 5 levels GF + Mezzanine + 1st ,2nd and 3rd floor; GLA 25,101 m2• Project construction period 18 months starting from July• 125 retail shops and restaurants and entertainment.• 800 multi level car parking to be finalized on the 15 th of JUNDescription of the Premises: • Carrefour is located at the basement level with 2 Travelators. • Travelators Escalators and elevators, between levels. • Two main entrances• Basement level 7969 MSQ• GLA for Carrefour Market: 3428 MSQ• Sales area: 2400 MSQ• Sublease: 2208 MSQ• Target Handover : Jun 2012• Target opening: Jan 2013

2) Project general description

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- Safat Al-Ghanem.- X-cite Al-Ghanem.- Electrozan.- Decathlon.- Bass Fashion.- Mango Fashion.- New Look Fashion Department.- Iconic Fashion Department.


Tenants who placed letter of interest

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Land lord

SAMA real estate is the owner of this project

Dubai Gate real estate company under Shuwaikh gate holding is the Property management and the man contractor of AL SALAM MALL

General Manager Eng. Omar NigmOwner Sheikh Thamer AL Osaimy

All legal contracts will be under Dubai Gate real estate

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Ground level


Entrance

Entrance

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Basement level Carrefour Express

Travelators


Receiving area

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To be finalized Multilevel car Parking 800 cars


Option -2-

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Proposed agreement (Size, Rent rules, Service charges)

For the first 5 years: 7KD per m2.

The rent increases by 13% instead of 10% for each 5 years.

Service charge included

Total GLA 7,969 MSQ

Down payment 2 years against Cheque guarantee.

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Proposal of SAMA in FEB 2010

Good Evening M. Fabrice In reference to our last meeting i would like to inform you about our final decision concerning the rental rates for salmiya: For the first 5 years: 7KD per m2.The rent increases by 13% instead of 10% for each 5 years. Hoping our proposal will meet your kind approval.Thanking you. PS: As for the internal layouts i will send them as soon as we receive them from the municipality. Best Regards, Charbel HAYEK Marketing & Sales Coordinator Real-estate Dept.Sama Holding MOB: (965) 99983528

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ONGOING PROJECTS :

STORE AL SALAM / 2400m2

CITY KUWAITGYMA CODE 3428 gla store

EMAIL CODE 2208 M2 of s.leaseGLA / M2 7,696

SALES AREA / M2 2,400 ASSORTMENT TYPE 103

FIT OUT WORK main contractor Total ( 11110.010 ) AED 9,500,000

SHELVING fricool ( 11210.000 ) AED 300,000

COLD SYSTEM linde or Costan ( 11210.000 ) AED 3,100,000

CARREFOUR EXPRESS SIGNAGES ( 11210.000 ) AED 160,000

SS Acc+Elect Mkt+Wood+Plastic+Furnitures ( 11220.104 ) AED 1,700,000

IT + office equipment ( 10110.000+11200.100+11300.100 ) AED 400,000

TOTAL ASSETS AED 5,660,000

TOTAL ASSETS M2 SALES AREA AED 2,358

TOTAL FIT-OUT M2 SALES AREA AED 3,958

TOTAL ASSETS + FIT-OUT AED 15,160,000TOTAL per Sqr/m Sla AED 6,317


Investment estimation


Sublease first initial proposal

Sublease Shops Analysis - First Draft

Shops Mix Unit GLANo of Shops Shop Dimensions

Total GLA Placement (in Layout)

(in sq. m) Front (sq.

m)Depth (sq.

m)(in sq.

m)

Very Small Shops (i.e. Quick Services) 10 11 3 3.3 108.9 In front of Cash Counters, main alleys

Small Shops (i.e. Optics, Money exchange) 27 11 5 6 330 In front of Cash Counters, main alleys

Restaurants (Casual Dining, Full service) 88 5 8 11 440 Main alley Corners

Anchor (i.e. Beauty, Food...) 275 2 14 20 560 Corner Big-Box

Line Shops (i.e. Small Fashion, Bank, Clinic) 70 11 7 10 770 Main alley

Totals 40 2208.9

First estimation of sublease income average per SQM – 13 KWD

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Option -1-


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Option -2-



Sales Estimation


Feasibility

Al salam mall jun 2011

Education

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