Marina bay Presentation - Business Plan

BUSINESS PLAN

PROJECT: Eurolink Investment Group “New Varna” Incorporating: Marina Bay and the Varna Royal Yacht Club

Introduction

Luxury living has always been the ultimate aim of every successful person and the main

incentive of the younger generations. The need and prospect of luxury living is driving us all ahead and for the great majority of us it is synonymous with the greatest of achievements, self realisation.

Though we are in the middle of one of the worse economic crises the world has seen over the past 80 years and both spending and investment these days are forbidden words, somebody has to look in the times ahead and to the recovery that is coming. We agree that the economic crisis is severe and it may take a serious toll on the average person in the street, but the same crisis once over, will generate an economic activity, unknown to the world up to now. The economic rise of China, Russia, India and of most of the oil producing Arab states, will multiply the number of wealthy people internationally and will inflate the demand for luxury living. We are convinced that luxury living at an affordable cost will be the product in great demand in the years to come.

The great Greek philosopher Plato was asked once by his students to give the definition of “luxury living” and he said….”luxury living is when your body, your mind and your ego feel free, happy and in full harmony with each other”.

The New Varna Concept

Quality and Luxurious Living: It is very rarely that a land developer gets the chance to conceive and realise a luxurious

residential concept from scratch and see his own vision enjoyed by all those who shared it in a manner that creates happiness and fulfillment.

Our vision, as EIG, is to build a new town where the residents will find themselves once again, re-discover their link with Mother Nature, become humane and real again, where they will really enjoy the fruit of their labour.

We want to create a new town where people will feel safe and free, socialize with each other, become friends and talk to each other, re-discover nature and live in a perfect harmony with it. A place where children can play freely once again and live in full their childhood with mother nature looking over and after them, where nature itself will embrace the human as a child and not as a cause of destruction. We are among the business which has no fear to dream and have ambitious plans; we have never gone for easy solutions and have never applied the policy of grab and run. On the contrary, we believe that success in business is the result of daring to go where others will not, to appeal to market segments and groups of clients who demand and deserve to have the affordable best of the best.

Having all these in mind, we are working hard, together with some of the best professionals in the field, to design and bring into being, the New Varna, a small brand new city, with modern infrastructure and facilities which are designed to meet the requirements of a new and modern city for the next century. A city which will have from the very beginning a “green” identity, with renewable energy and recycling facilities, surrounded by virgin forests and undisturbed nature. The creation of a functioning and interactive community is our main goal. In this respect, we have included in our planning, everything that can give enjoyment, happiness and top quality of life.

The two golf courses, the Marina Bay, which is right in the center of the new town, the private hospital and medical centers around it, the private multi-lingual public school which will offer top quality education to kids from 4 – 18 years of age, the folkloric village of Elenitsa, the Malls and commercial units, the church and the mosque, the winery at Acropolis and other aspects, will insure that the term “luxury living” is fully applicable and valid, in the case of our perception of the New Varna.

Uniformity and Character We firmly believe that any future residential development in a massive scale has to have,

besides the infrastructure and modern facilities, character and uniformity. In our understanding, uniformity means the existence of common elements and characteristics, which once combined with the existing natural beauty of the region, will present a common and recognizable image, while each house and every building will have its own personality. In this case, we ensured that certain such elements were incorporated in the recently approved New Varna Master plan. The low density on the foot print ( 20% – 30%), the huge percentage of green belts ( 70-75%), the limit of 10 metres on the height of the buildings, the use of ceramic roof tiles, the wide streets and service roads, the hedge like boundary marking, the public parks and play grounds, the off the street parking facilities which are compulsory and last but not least the minimum size of the building plots to 1,000m², all these will secure the uniformity which we refer to.

We consider the Devon coastline of the United Kingdom, as one of the most beautiful spots in the world, where the natural beauty is perfectly combined with the residential outlets in favour of the inhabitants, both people and animals.

Our aim is to apply the same planning and means not only to maintain but to improve the natural beauty, while the housing and facilities are placed in such a manner that will endorse and bring out this relationship. By doing so, we aim to create a very specific character for our region, which in any case has its own strong and outstanding identity even in its current undeveloped state.

The Location We have stated already our commitment in building a brand new, green and human/nature

friendly city. To achieve this goal, we needed not only the right land both in quantity and quality, but mainly and above all, we needed the perfect Location.

Eurolink Investment Group together with its subsidiaries owns nearly 15 million square meters of prime residential land, which includes, hills and cliffs, lakesides and lakeshores, private pine and oak forests, vineyards, fruit orchards all surrounded by virgin and very often untouched public woods. All our land is placed around the shores of the Varna sea-lake and offers fantastic views of the sea and the city, as far as the eye can see and all this within the city boundaries of Varna and only 10 kilometers from the city center and almost the same distance from the international airport. What makes this location fascinating and extremely attractive, is the combination of the green colour of nature with the blue of the sea and the purple of the Varna sunsets.

This location, very vibrant and at the same time peaceful and serene is complemented with an extensive flora and fauna which is always in full swing. Seeing an eagle hunting a rabbit or a cormorant fishing in the sea-lake is simply not an event, but the rule. Cherry, apple, walnut, plum, apricot and pear trees grow by themselves and give juicy eco fruits without any caring or looking after. An earthly paradise you may say, where the vines are simply everywhere loaded during the season with sweet and aromatic grapes. All these, at your doorstep.

The Market / Prospective Clients

Nobody can deny the fact that we are well in the middle of the worse economic recession the world has seen during the last 80 years, which is affecting the livelihood and the standard of living of practically everybody in the developed world. Many would also say that in times of economic recessions, investment and new ideas should be put to sleep or even abandoned totally and completely. This may be true up to a certain extent and only if these new ideas have nothing new to offer in the form of an alternative to the repercussions of the crisis.

The New Varna concept and the projects that go with it, offer solid and tangible solutions and answers to a great number of problems, people mainly from Europe and the developed countries, are faced with.

The ongoing economic crisis has seen the income and the assets of the middle class shrink dangerously, pensions have been drastically reduced and pension funds bankrupted, social and welfare services withdrawn, crime and social conflicts on the increase and security among elderly people has reached its peak. A number of recent studies by major insurance companies indicate a clear trend of a massive exodus and relocation. For the past 9 months EIG has carried our a similar survey among the visitors of our website www.retirement-homes-bulgaria.com, which clearly shows that thousands of middle and upper middle class citizens of the EU but mainly from the United Kingdom, Ireland, Denmark, Sweden and Germany, were seriously considering relocating to another EU country with better and cheaper living conditions. Bulgaria is coming first among their preferred destinations.

http://www.retirement-homes-bulgaria.com/









This real demand for alternative living has clear characteristics, something which has to be taken very seriously in consideration by those who will design the final “product”, if this is expected to have a successful marketing and financial application. These characteristics are the following:

The location should present itself as been a fresh, natural, unspoilt, relaxed and thinly

populated.

The successful development should have the usual infrastructure required by modern and futuristic residential quarters including outlets designed to serve social, medical, cultural, entertainment, communication and even religious needs.

The actual facilities to be offered for common and public use should clearly answer and meet the standards of the middle upper and upper social class and should be priced accordingly.

With regards to the housing and residential outlets, these should have elements of uniformity while in the meantime they should be designed to the individual standards and tastes of the future occupant/owner, always taking into consideration the general limitations which will be set in order to keep the up-market character of each project.

The exclusive nature and up market quality of the projects to be developed should be reflected on the price of each outlet. Most of the candidate clients have a pre-set budget, which in most cases is in the region of €600,000.

Finally the secret of success of such projects, especially in the middle of an economic recession, is to be different and superior to the rest and have the clear identity of exclusivity and luxury. After all we are offering … affordable exclusive luxury.

Marina Bay and the Varna Royal Yacht Club

EXCLUSIVE LUXURY RESIDENTIAL AND YACHTING PROJECT

The MARINA BAY project is a brilliant concept designed to offer the highly sought

combination of luxury living, yachting, shopping and socialising with the proximity to a big city, international airport and access to the whole of Europe within hours.

The project will be developed on a coastal location; only 15 minutes drive from the city centre of Varna and less than 10 minutes from the International Airport. Almost 2.5 million square metres of land has been put aside for this project which lies right next to the shores of the Varna sea-lake and surrounded by virgin wooded hills and mature vineyards. The bulk of the Marina and the buildings, facilities and required infrastructure are positioned right at the front of the project and with direct access to the shores of the Varna Sea Lake.

What does the Town Plan of the Municipality of Varna provide for the region of Konstantinovo (Marina Bay) ?

The area of the village of Konstantinovo possesses generous natural resources:

varied topography of the terrain, providing magnificent views of the lake to the North and of the

ancient forest of Avren to the South

favourable microclimate and protection from strong easterly winds

numerous small rivers and ravines, picturesquely flowing through the region and running into the lake

preserved high and low vegetation clean air and soil favourable for all crops and especially for vines

The general idea of the new Town Plan for the development of the territory of Varna to the South, on the southern shore of the lake, turns Konstantinovo into an urban area full of value, attractive for habitation and recreation.

The Town Plan intends to improve the communications of the southern territories with the northern city. Using the designed new bridge the inhabitants of Konstantinovo will be able to reach the Western Industrial Zone, the airport and new shopping malls in the shortest time. They will be able to reach the holiday resorts of "Golden Sands” and “Albena” without passing through the city centre. They will be able to get on the highways “Hemus” and “Black Sea” and through them head to all directions in Bulgaria and abroad.

Varna Town Master Plan

The Town Plan drafts to build a new road directly connecting highway “Black Sea" with Konstantinovo, as an extension to the West of the existing link to Galata neighborhood. At its intersection with the Beloslav road the construction of a main social centre of the Konstantinovo region is planned.

In perspective for the transit to the West a bypass from the South of Konstantinovo is projected. All this will relieve the existing busy road from Varna to Konstantinovo and Beloslav passing south of the lake.

Highway “Black Sea " is part of the Trans-European Corridor No. 8, which means that from Konstantinovo you can go directly to Skopje, Durres in Albania and from there you can reach Italy and Western Europe.

The plan provides for the entire southern shore of the Varna Lake to become a resort area with marinas, fishing quays, an amusement park, a large zoo and golf courses.

According to the Town Plan, in perspective, the Konstantinovo area will be able to offer a great place for permanent and temporary habitation to 35-40 thousand inhabitants. In the centre of this essentially new residential area of Varna all necessary administrative, commercial, cultural, and sports buildings and facilities will be arranged. A specialized secondary school, intended for residents throughout the municipality is also planned.

Adjacent to the district center of Konstantinovo the arrangement of a high-tech park, which may be of regional or national significance, is proposed. The previously existing farmyard of the Co-operative Farm now provides for a modern industrial park, but only for clean production.

The Town Plan provides for full maintenance of all green areas on the territory of the village and for the reorganization of some of them into urban and regional parks and gardens.

One of the most unique ideas of the Town Plan for the Konstantinovo region is the project for an ethnographic village. It is located on the southern slope of the river Konstantinovska, east from the village. In this unusually beautiful area, pastures nowadays, an ethnographic exhibition village is proposed

to be built, where copies of typical houses from

different regions of the country will be shown.

Adjacent to the river will be placed copies of

old mills, craft workshops

and, of course, numerous and diverse catering

and entertainment.

The idea of this exhibition park is to show to the Bulgarian and foreign tourists, gathered in one place, the wealth of the Bulgarian architectural and ethnographic heritage of the 18th and 19th centuries.

One of the most important foresights of the Town Plan of Varna for the Konstantinovo region is the construction of a yacht port with a marina in the outflow of the river Konstantinovska at its entry into the lake.

On an area of 26 hectares a water area for berth places (total of 8.1 hectares), two islands and quay walls 3,880 m long are planned for construction. Next to them there will be yacht clubs, hotels, private villas, shops and restaurants.

South of the marina a park (39.6 hectares) with a system of three lakes, a wide beach, a sports complex and various facilities for recreation are designed. To protect the park from floods an existing irrigation canal is preserved, which can absorb large volumes of storm water without polluting the lakes.

The territory lying between the channel and lakes is provided for the construction of a villa area (11.1 hectares with 26 villa properties on an area between 2,000 and 5,000 m²)

On the East side of the park and villa zones four typical hills are situated, partially covered with a coniferous forest, which is fully maintained. For the ridge parts of the hills housing -recreational groups of individual residential buildings with land between 3,000 and 6,000 m², lined-up houses with and without land and a relatively small percentage of the collective residential sections and corridor type, are designed. Each of these groups has been provided with necessary facilities for commercial and residential services, schools, kindergartens, sports and recreation facilities.

Marina Bay Project

Adjacent to the main road Varna-Konstantinovo-Beloslav on an area of 11.4 hectares a

shopping centre is designed, with office buildings, designed for service to the adjoining

as well as the incoming population.

A residential group with an area of 30.5 hectares is designed and to the West of the park it is

provided with the necessary public services.

The yacht port with the marina, the park, the villa zone, the coniferous forest and the

residential groups around them form a resort and residential complex called “Marina Bay – Varna Royal Yacht Club ", because all its sectors are visually related to the

lake. The layout indexes provided in the VSS, Varna, regarding the examined territory

are footprint - 30%, intensity – 1 and maximum height – 10 m.

Basic data for the projected resort-residential complex “Marina Bay – Varna Royal Yacht Club” (See the plan on previous page)

1. Marina and Marina city

Territory 262 390 m² including. 80 761 m² of water areas and 3880 linear meters of quay walls;

Functional content: yacht clubs, hotels, individual residential buildings with plots, lined-up residential units with and without plots, shops, restaurants, sports and entertainment units and facilities;

2. Residential and recreational zone Territory 304 940 m²

Functional content: individual, self-contained and lined-up residential buildings with and without

plots, residential buildings with joint ownership, school, kindergartens, shops and establishments;

Approximate number of residents - 7 000;

3. Public park with lake, beach, sports and recreation facilities; Territory – 396 000 m²

4. Exclusive residential area

Consisting of 27 individual residential buildings, situated on independent plots with an area of between 2000 and 5000 m² and recreational establishments;

Territory – 111 000 m² Number of residents – 130

5. Residential area Consisting of individual, lined-up and residential buildings with joint ownership with and without plots

and 12 villa buildings on independent plots with an area of between 3 000 and 6 000 m², school, two kindergartens, shops and establishments for commercial and public services;

Territory – 337 430 m²

Approximate number of residents – 6 000;

6. Resort-residential area Consisting of individual, lined-up and residential buildings with joint ownership with or without plots

and 13 villa buildings on independent plots with an area of between 2 000 and 4 000 m² kindergarten, shops and establishments for commercial and public services;



7. Resort-residential area; Consisting of individual, lined-up and residential buildings with joint ownership with and without plots

and 8 villa buildings on independent plots with an area of between 2 000 and 5 000 m² kindergarten, shops and establishments for commercial and public services;



8. Resort-residential area

Consisting of individual, lined-up and residential buildings with joint ownership with and without plots and 8 villa buildings on independent plots with an area between 2 000 and 5 000 m² kindergarten, shops and establishments for commercial and public services;



9. Resort-residential area Consisting of individual, lined-up and residential buildings with joint ownership with or without plots

and 13 villa buildings on independent plots with an area of between 2 000 and 5 000 m² school, kindergarten, shops and establishments with commercial and public services;


Approximate number of residents – 1700;

10. Commercial area with office and entertainment facilities; Territory -113 500 m²

Total built – up area – 90 914 m²

11. Forest with a total area of 448 200 m² Summarized data of the resort-residential complex “Marina Bay – Varna Royal Yacht Club”

Territory – 2 447 750 m² (244.775 hectares);

Number of residents – 19 830

Preliminary bill of building resort-residential complex “Marina Bay – Varna Royal Yacht Club”, as per aggregated indices

1. Marina and Marina city

Territory 262 390 m² including. 80 761 m² water areas and 3880 linear meters of quay walls;

35 000 m² green areas; 39 000 m² streets and parking lots; 78 717 m² built-up terrain density of construction – 30% total built – up area 257 168 m² Average floors – 3.3 Intensity factor – 0.99 boardwalk/pedestrian – 28 912 m²

1.1. Excavation; 484 600 m³. x € 1.00 per m³ = € 484,600.00;

1.2. Building of quay walls and facilities; 3880 m. x € 600.00 per m. = € 2,328,000.00; 1.3. Building of streets and parking lots including the pedestrian area; 67 912 m² x € 100.00 per 1 m² = €

6,791,200.00;

1.4. Building of green areas; 35 000 m² x € 40.00 per 1 m² = € 1,400,000.00;

1.5. Construction of residential and public buildings; 257 168 m² x € 500.00 per 1 m² = € 128,584,000.00;

1.6. Construction of technical infrastructure (water and sanitation, electricity, heating and ventilation systems, gas, communication) a total of 20% of the value as per point 1.5, or € 25,716,800.00;

Total on point 1 – € 165,304,600.00;

2. Residential and recreational zone;

Territory 304 940 m² including. 52 000 m² streets and parking lots 164 507 m² green areas 88 433 m² residential and public terrains (BA) total built – up area – 285 991 m² Average floors – 3.3 Density of construction – 29% Intensity factor – 0.98 Approximate number of residents - 7 000;


2.2. Building of streets and parking lots; 52 000 m² x € 100.00 per 1 m² = € 5,200,000.00;


2.4. Construction of technical infrastructure a total of 20% of the value as per point 2.1, or € 22,879,280.00;

Total on point 2 – € 149,055,960.00; 3. Public park with lake, beach, sports and recreation facilities;


3.1. Building of green, water and sports areas; 396 000 m² x € 40.00 per 1 m² = € 15,840,000.00;

4. Exclusive residential area

Territory – 111 000 m², including streets and parking lots – 12 000 m² green areas – 65 700 m² residential plots 33 300 m² total built – up area – 52 115 m²

Intensity factor – 0.50 Density of construction – 30 % Average floors – 3.13 Average number of residents – 130

4.1. Construction of residential buildings; 52 115 m² x € 600.00 per 1 m² = € 31,269,000.00;


4.3. Building of public green areas; 65 700 m² x € 40.00 per 1 m² = € 2,628,000.00;

4.4. Construction of technical infrastructure; 20% of point 4.1, or € 6,253,800.00;

Total on point 4 – € 41,350,800.00;

5. Residential area

Territory – 337 430 m², including streets and parking lots – 60 000 m² green areas – 176 201 m² residential and public terrains (BA) - 101 229 m² total built – up area – 285 162 m² Average floors – 3.13 Density of construction – 30% Intensity factor – 0.9 Approximate number of residents – 6 000;





Total on point 5 – € 149,925,800.00;

6. Resort - residential area

Territory gross – 159 480 m², including Streets and parking lots – 30 000 m² Green areas – 81 636 m² Residential and public terrains (BA) – 47 844 m² total built – up area – 123 624 m²

Density – 30% Average floors – 2.97 Intensity factor – 0.87 Approximate number of residents – 2 100;





Total on point 6 – € 65,604,960.00;


Territory gross – 112 480 m², including Streets and parking lots – 30 000 m² Green areas – 48 736 m² Residential areas – 33 744 m² total built – up area – 58 040 m² Density – 30% Intensity factor – 0.8 Average floors – 2.15 Approximate number of residents – 1 500;





Total on point 7 – € 32,808,640.00;

8. Resort - residential area Territory gross – 89 650 m², including

Streets and parking lots – 14 000 m²

Green areas – 48 755 m²

Residential and public terrains (BA) – 26 895 m² total built – up area – 69 416 m² Density – 30% Average floors – 2.9 Intensity factor – 0.89 Approximate number of residents – 1400;





Total on point 8 – € 36,669,880.00;


Territory gross – 112 680 m², including Streets and parking lots – 17 000 m² Green areas – 61 876 m² Residential and public terrains (BA) – 33 804 m² Density – 30% Average floors – 2.83 Intensity factor – 0.88 total built – up area – 84 185 m² Approximate number of residents – 1700;





Total on point 9 – € 44,583,840.00;

10. Commercial area with office and entertainment facilities; Territory gross -113 500 m², including Streets and parking lots – 40 000 m² Green and pedestrian areas – 39 450 m² Built-up terrains – 34 050 m² Density – 30% Average floors – 3 Intensity factor – 0.89 total built – up area – 90 914 m²

10.1. Construction of shops, restaurants, banks, offices and places of entertainment; 90 914 m² x € 700.00

per 1 m² = € 63,639,800.00;


10.3. Building of green and pedestrian areas; 39 450 m² x € 40.00 per 1 m² = € 1,578,000.00;


Total on point 10 – € 88,309,740.00; 11. Forest with a total area of 448 200 m²

Total value for the construction of zones 1-10 is € 789,454,220.00

Total territory of the project – 2 447 750 m² (244,775 hectares);

Total built – up area of the project – 1 306 615 m²

Total number of residents – 19 830

Marina bay Presentation - Business Plan

Real Estate

Transcript of Marina bay Presentation - Business Plan