new investment:layout 1 - me- · pdf filelusail will effectively be a city with a population...

Altair Development in Lusail, Doha, Qatar.

new investment:Layout 1 30/7/09 08:56

Executive Summary 01

The Developers and Partners 02

Qatar Overview 03

Investment & Infrastructure 07

Property Market 09

Lusail Overview 14

The Altair Development 17

Appendices

Key Executives 23

Developers and Sales Agents 27

Track Records 29

ContentsContacts

Equity Investment Enquiries

Will HeanKenmore Property GroupPO Box 282110DubaiUAETel: +971 (0) [email protected]

Property Residential Enquiries

Andy McEwanSelect Property Group LimitedThe BoxBrooke CourtLower Meadow RoadWilmslowCheshireUnited KingdomSK9 3NDTel: +44 (0) [email protected]

All communications and enquiries relatingto this offer should be directed to either:

Investment brochure for The Altair Development, Lusail, Doha. Investment brochure for The Altair Development, Lusail, Doha.

new investment:Layout 1 30/7/09 08:56 Page 3

Tameer Real Estate Company WLL has acquired a 72,000 square foot plot in thewaterfront residential area of the Lusail masterplan, an expansion area just tothe north of the centre of Doha, the capital of the State of Qatar. The plotsurrounds a private beach at the northern end of the waterfront district. Lusailwill effectively be a city with a population of 200,000 enjoying unrivalledemployment, residential, retail, entertainment and transportation facilitieson their doorstep.

The intention is to develop a 35 storey luxurious residential tower over a gross

floor area of approximately 290,000 square foot consisting of 170 apartments

and with a total development cost of approx QR+300 million. Construction is

due for completion end-2011. It is anticipated that these apartments will be

sold in a number of phases at sale prices between QR1,700 and QR2,100 per sq

ft with the first phase to be launched in Q1 2010.

Tameer Real Estate Company WLL has teamed up with Kenmore Property

Group to co invest in the project and jointly established for that purpose

Kenmore Waterfront Company WLL (‘the company’) in the state of Qatar.

Further, Tameer Real Estate Company WLL has appointed Kenmore Property

Group and Middle East Alignment WLL to jointly perform the project

development and project management services.

Select Property Group Limited (“Select”) is acting as sales agent for Tameer RealEstate Company, Kenmore Property Group and Middle East Alignment WLL(together “the Developers”) in relation to sales activities of the project.

Select and the sponsors are approaching a small number of high net worthindividuals and institutions to sell either equity in the development companyor a material number of units within the project.

Executive summary

Tameer Real Estate Company WLL was established in Qatar in its current formin 2006 with a paid up capital of 324 million Qatari Riyals and assets over 1BillionQAR. Tameer is a national and international real estate development, investmentand holding company. The Board of directors is chaired by Abdulaziz BinMohammed Al Attiya.

Kenmore Property Group is a leading, privately owned, Scottish propertycompany with a strong UK and European management platform and animpressive track record across the three main real estate disciplines: Investment,Development and Asset Management. Kenmore was formed in 1986 and nowoperates throughout the UK, Europe, Scandinavia and Dubai with assets undermanagement in excess of US$ 3.7 billion.

Middle East Alignment WLL is a successful and reputable Qatar-based real estatedevelopment and investment management company. Partners includeAbdualaziz Mohammed Al Attiya, who is Chairman of the Al Attiya Group ofCompanies and H.E. Dr. Khalid Bin Mohammed Al Attiya, who was recentlyappointed to Minister of State of Qatar for Business and Trade in addition to hisexisting responsibility as Minister for International Co-operation. ME Alignmentpossess a strong track record and significant expertise in land acquisition andproperty development management for real estate projects of over US$250m

Select Property Group is a global property company based in the UK that hascompleted residential property sales in excess of $1.4 billion to clients in over80 countries over the last 5 years. Select specialises in the end to end provision ofmarketing, sales and customer service solutions. It’s experience in the middle eastincludes selling out all units in six residential towers at Dubai Marina very similar innature to the development project in Lusail. In addition to it’s core business Selectis also an active JV property developer in Ras al Khaimah and Dubai.

The Developers and Partners


02


Geography

Qatar is an independent Arab State situatedon the Western coast, at the heart of theArabian Peninsula, within close proximity toSaudi Arabia, and sharing maritimeboundaries with Bahrain and the UnitedArab Emirates.

Demography

Due to an influx of foreign workers,triggered by the country’s economicperformance, a boost in population figureswas reported in Dec ’08. The populationincreased by over half a million in just 4years to record one of the world’s highestgrowth rates.

Economic growth and iconic real estateprojects are a magnet to expatriates, luredto Qatar by attractive tax-free employmentpackages. Furthermore Qatar has a muchhigher number of professionals andtechnicians in comparison to theemployment mix in the neighbouring states.

Qatar Overview

Rich Natural Resources

Qatar has set itself apart from itsneighbouring countries, as not only is it therichest nation in the GCC and one of therichest nations in the world, even duringthe current global downturn Qatar ispredicted to achieve GDP growth ofapproximately 9.6% in 2009, the fastesteconomic growth rate among the world’srichest nations.

Ranked third in the world in terms ofnatural gas reserves, Qatar’s phenomenalGDP growth continues to move fromstrength to strength.

GDP $83.29 billion

GDP growth 11.8%

GDP per capita $101,000

GDP by sector

Agriculture (0.1%)

Industry (79.4%)

Services (20.5%)

Inflation (CPI) 15.2%

Population 1.5 million

Growth (%) 2003-08 102%

Expat population (%) 80

Key Statistics (2008 estimates)

Voted ‘The best regional model for its neighboursto emulate’ by the World Ecomomic Forum.

30 40 50 60 70 80 90 100 USD ‘000s

AustraliaAustriaBelgiumDenmarkFranceFinlandIrelandKuwaitNetherlandsNorwayQatarSwedenSwitzerlandUAEUSA

World’s richest nations (nominal GDP/Capita, 2008)

0 20 40 60 80 100 %

World’s fastest growing population

AfghanistanBahrainBurundiEast TimorEquatorial GuineaLiberiaMacauQatarUAEUganda

04



Growth and Development

• It was named the “best regional model for its neighbours to emulate” in 2005 by the World Economic Forum.

• Having experienced rapid growth in recent years, the Qatari government has accumulated trade surpluses which it is investing in projects to diversify its economy. Unlike its neighbours, Qatar is financing such projects from current oil exports, which make it less reliant on external credit flows.

• The rich natural resources and Qatar’s attitude to business has enabled its residents to enjoy the second highest GDP per capita in the world.

• $103,500 (2008)

• $94,200 (2007)

• $85,800 (2006)

Economic Diversification

The Qatari government intends tocontinue to boost public spending byallocating a total expenditure of $25.9billion for the fiscal year 2009/2010. With a commitment to invest in non oiland gas sectors, the government is set toachieve economic diversification throughpublic spending on transportation,healthcare, sports, education and housingprojects.

• Qatar's goal is to become a major international centre for finance and investment management, a vision shared by its government, people and institutions.

• The Qatari government has always held an open attitude to investment and business, which is demonstrated through a multitude of facts:

• No income tax

• No withholding tax

• Stable exchange rate peggedto the dollar

The Economy

Qatar has achieved in decades what manycountries take centuries to attain and isnow one of the highest rated economiesamong GCC countries according to CapitalIntelligence, Moody’s and Standard &Poor’s.

Its stable economy and relatively smallpopulation has allowed Qatar to maintainits position as one of the best performingeconomies and has one of the world’shighest per capita GDP’s.

Having been the least affected country inthe GCC region by the global economicdownturn, the future for Qatar is extremelypositive with its gas & oil reserves,development plans and rising populationsustaining the demand for commodities,services and real estate.

Oil and Gas Revenue

• Qatar is one of the largest exporters of Liquefied Natural Gas (LNG) and has the third largest gas reserves in the world.

• Additionally it has oil reserves that could support its current levels of output for 37 years.

• Unlike other GCC countries, Qatar has not maximised the extraction of its existing oil and gas capacity.

• Qatar’s economy has only just begun diversifying from oil and natural gas, which still contributes to over 50% of its GDP.

Qatar Overview

Main picture: Major Gas refinery. Qatar.


Qatar’s residents enjoy the second highestGDP per capita in the world.

Population (m)

Per household consumption (US$m)

Current account balance (% of GDP)

Budget balance (% of GDP)

Market Indicators, 2008 - 2013

2008 2009 2010 2011 2012 2013

1.5 1.7 1.8 2.0 2.2 2.4

18,066 20,957 23,451 25,913 29,282 33,088

19.4 3.0 19.5 22.4 22.9 20.0

8.6 -2.1 2.4 5.1 5.9 5.7

06


Qatar’s rapid economic growth hasenabled it to become one of thewealthiest countries in the world, and hasthe third largest reserves of natural gas inthe world. With this is mind Qatar islooking to spend a phenomenal $100bnon investment and infrastructure projectsby 2012.

Unlike other GCC countries, Qatar hasinvested significantly in infrastructureprojects. The government currently hasplanned infrastructure expenditure of $15billion over the coming years, ensuringthat the country remains a very attractivebusiness destination.

The Qatar Investment Authority

The QIA was founded in 2005 tostrengthen the country's economy bydiversifying into new asset classes.

Headquartered in Doha, the QIA is asovereign wealth fund structured tooperate under the strictest financial andcommercial disciplines domestically andinternationally. As a result of its strategyto minimise risk from Qatar's reliance onenergy the fund predominantly invests ininternational markets (US, Europe andAsia) and within Qatar outside theenergy sector. The fund focuses on threeasset classes; real estate, private equityand investment funds.

Investment and Infrastructure

These expansion and growth plansinclude the following:

• Doha International AirportThe $5.5bn Doha International Airport is being built with a capacity for 24 million passengers and is expected to open in 2015.

• Expansion ProjectsQatari officials have projected that they expect at least $12.3bn to be invested in expansion projects over the coming years.

• Hotel IndustryThe hotel industry in Qatar is predicted to grow, with 8 new hotels, totalling 2,550 rooms to be added in the next 2 years to accommodate the growing demand.

• Qatar-Bahrain CausewayThe $2bn construction works on Qatar-Bahrain causeway, stretching 40kms (25 miles) is expected in May 2010. The causeway will provide both rail and road connections between Bahrain island, and Qatari peninsula.

• Rail NetworkQatar is planning to build an underground light rail network serving the Education City development outside Doha. The system will be one of five components of a larger rail network serving the rest of the country that is planned by local developer Qatari Diar Real Estate Investment Company.

Main picture: Medical College at Education City.

Pictures opposite: Proposed new Doha International AirportThe Friendship bridge linking Doha with Bahrain.Petroleum grounds at Energy city.

Qatar’s has the third largest reservesof natural gas in the world.


08


Tourism

Qatar has a strong strategy in place todevelop revenue through tourism. Agovernment allocation of US$17 billion fortourism over the next five years, includingthe construction of luxury hotels, resortsand other leisure facilities, will make thecountry even more attractive tointernational visitors.

By 2010 Doha alone will offer 10,000rooms in 45 hotels, catering to theexpected 1,000,000+ visitors. The numberof hotel rooms of a luxury standard is setto increase to more than 29,000 by 2012.

Further, the Qatar Tourism andExhibitions Authority plans to grow thetourism sector in Qatar by focusing onattracting a projected 1.4 million touristsby 2011 for business, conferences,education, sports and culture.

Business Tourism

Qatar is well-positioned to take advantageof the business market, catering for anarray of functions, meetings andconferences. Doha Exhibition centre hostsa suite of modern facilities and QatarNational Convention Centre, (Opening inlate 2010), will include 57 meeting rooms,40,000 sq m of exhibition space as well astwo auditoria, a multi-purpose hall and atheatre to meet the demands of globalconference and exhibition organisers.

Sport

Qatar is fast becoming one of the region’sleading sports destinations. Afterinvesting US$2.8 billion in infrastructure,it successfully hosted the 15th AsianGames in 2006 and will host the AFCAsian Cup football tournament in 2011.A wide range of major world sportingevents are regularly hosted in Qatar andwith its bid for the 2020 Olympic Games,as well as the FIFA World Cups in 2018and 2022, Qatar is taking steps to elevateits position on the global stage.

The Arts

Qatar hosts the world’s premier collectionof Islamic art and handicrafts at theMuseum of Islamic Art. The annual DohaCultural Festival every March attractsvisitors from around the world and is oneof the largest of its kind.

Shopping

As well as the modern shoppingexperience, Doha’s 'Souq Waqif', thecountry’s oldest and best known bazaar,is home to traders of everything fromperfumes and jewellery to spices andtraditional crafts.

Pictures below: Al Khalif Sports complex, Sports City The Museum of Islamic Art, Doha.Authentic arabic goods at the famous Souk Waqif Marketplace.

Investment and Infrastructure

Qatar leads the way as the nexttourism hub with US$17 billion ofinvestment in the next 5 years.


10


Property Market

Qatar has openly declared that the realestate market plays a pivotal role inrealising its vision. Therefore thefundamentals and key components to thelong-term sustainability of the real estatemarket are already being carefully plannedand implemented.

Appreciation

Qatar’s strong economy, growth expansionand infrastructure programmes all formpart of Qatar’s underlying fundamentals toachieve a growing real estate market,appealing to both local and foreigninvestors. For those developments situatedin more desirable, water front locationsproperty is more likely to retain its value,generate higher marketability and is betterpositioned to achieve higher rentals.

Between mid-fourth quarter 2008 and endof first quarter 2009, average freehold salesprices were affected by the globaldownturn. Whilst these declines wereheavily weighted in some areas, theaverage unit prices in premium areas suchas Lusail largely sustained their price pointsand were only minimally impacted.

Qatar symbolises a new urban character and global integration with architectural styles committed tothe lifestyles of the past whilst encouraging technological development.

It is predicted that sales prices forfreehold property in Qatar have nowlevelled out and the decline during thefourth quarter of 2008 and May 2009 isthe worst likely to be experienced. Thefundamentals of Qatar's property marketare changing rapidly, but collectivesupply has largely been controlled andaggregate demand is stable.

Rentals

High population rates experienced byQatar over the last year have placedsignificant pressure on the demand forresidential property, resulting in asubstantial increase in rentals of over 25%in 2008. Whilst 2009 has seen the rentalmarket steady, again those developmentsin prime residential areas continue tocommand rental with a premium overother less desirable areas.

Development Plans

As the pace of development has slowedafter the initial boom in the 1960's, moreconsideration has been given todeveloping a city that symbolised Qatar'snew urban character and globalintegration. The architectural style isevocative of Qatar's commitment to thelifestyles of the past while encouragingtechnological development. Manybuilding designs incorporate distinctivelyIslamic decorative styles executed inmodern materials.

0 1000 2000 3000 4000 5000 6000 7000 8000 USD/month

Abu Dhabi

Dubai

Doha

Muscat

Kuwait

Riyadh

Barhain

Residential Rentals, GCC Cities, Q1 2009

Villas Apartments

Doha ranked 2nd highest for residential apartment rentalsin Q1 of 2009 amongst GCC Cities, equalling Dubai.


12


Property Market14


Property ownership laws

Qatar was the first market in the region toopen to outright foreign real estateownership with the passing of a law in2004 Regulating Ownership of Real Estateand Residential Units by non-Qatari’s (the“Foreign Ownership of Real Estate Law”).

There are therefore currently three regimesexisting in Qatar in respect of propertyownership:

GCC nationals may invest in and own Real Estate in three approved “Investment Areas”, namely Lusail, Al Khuraj and Thaayleb Mountain.

Non-Qataris can own real estate in three designated projects - the Pearl-Qatar, West Bay Lagoon and Al Khor Resort.

Non-Qataris may also acquire rights over any real estate for a term of 99 years renewable on similar terms within the Investment Areas.

A further law in 2006 allowed entry visasand residency permits to be issued to non-Qataris with interests under the ForeignInvestment Law and the ForeignOwnership of Real Estate Law withouta local Qatari sponsor.

The Doha's Parks and Promenades

The award-winning architecture andspectacular parks and promenades areconsidered to be the centrepiece of Doha.The large-scale land reclamation projectundertaken by the government to createthose waterfront properties is recognisedas a major engineering feat and a symbolof the country's economic andtechnological advancements.

The Pearl

The Pearl Qatar is one of the most iconicdevelopments. The man made islanddevelopment is estimated to cost around$2.5 billion and is by far the largestproperty development undertaken inQatar. The second phase of thedevelopment was released in March 2005to much anticipation and post completionwill form a 4-million sq m island home toaround 30,000 people in an array of luxuryand stunningly designed villas, townhouses and apartments. The Pearl will alsofeature hotels, restaurants, shops andboutiques as well as a 700 berthinternational yachting hub

Main Picture: Doha Corniche waterfront at night. Doha waterfront by day. The Pearl.


Lusail

Qatar has planned a number of

commercial and residential development

projects designed to provide housing for

locals and expatriates who will work in the

expanding energy sector as well as other

industries.

The Lusail development is a masterplanned community situatedapproximately 15 km north of Dohacovering an area of approximately 35million sqm and will be home toapproximately 200,000 people. As Qatar’slargest domestic development, Lusailplaces Qatar on the map in terms ofproperty investment in the GCC region.

Lusail lies adjacent to another masterdevelopment - The Pearl Qatar - and isbordered by the Arabian Gulf to the eastand the Al Khor expressway to the west.More specifically the subject plot issituated on the eastern boundary of theLusail development.

Meticulously planned, the Lusaildevelopment will include a blue waterlagoon with two marinas, low and highdensity residential accommodation,commercial areas, entertainment andleisure facilities, two golf courses, mixeduse areas, retail districts, schools,mosques and medical centres.

area designated for low rise villadevelopment around a championshipGreg Norman golf course, offeringadded amenity in terms of views andoutlooks for the apartments.

The development has been designedto take full advantage of the plot'swaterfront location. The design conceptis based around a vertical villa, offeringa unique mix of indoor and outdoorspace in the units with courtyards,balconies and a walkway providing themain access point to the apartments.All the apartments within thedevelopment offer full or at least partialsea views.

Lusail Overview

Main pictures: Artist’s impression of Lusail master development.

Pictures opposite: The centrepiece of Lusail, Fosters and Partners iconic towers. CGI Showing main Lusail boulevard.

Lusail is planned to contain 18 differentdistricts, each with its own distinctiveuses and features. In summary the maindistricts are;

1. Entertainment District 2. Energy City3. Media City4. Waterfront District5. Marina District6. Golf District

The site occupies a prime location withinthe Waterfront Residential District ofLusail and benefits from a direct sea front.In addition, the east of the site is an

6

4

3

21

5

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Altair overview

Occupying what is probably the best

location on Lusail, Altair is a high end

residential development which

incorporates 4 retail units. Its enviable

waterfront position and innovative design

enables every property to benefit from

sea views.

Designed to embrace Arabic architecture,

within the dynamic setting of Lusail, the

result is something quite unique. Moving

away from Arabia’s historically horizontal

design, Altair is a vertical villa themed

tower which offers a mix of indoor and

outdoor space.

Properties are spacious, light and airy, and

are carefully planned to maximise the

spectacular views whilst still delivering

complete privacy to their occupants.

Contrasting the privacy offered by each

property, the use of courtyards, porches,

walkways and ‘gardens in the sky’ are all

designed to encourage the sociable /

community atmosphere, of villa

neighbourhoods in the sky.

Residential Accommodation

The Villa Tower offers a total of 170residential properties, all of whichbenefit from sea views. It comprisesof a choice of simplex, duplex, triplexand penthouse properties, with thenumber of bedrooms ranging from1-5. The development offers twoexclusive penthouse apartments withprivate pools and terracesoverlooking Lusail and out to centralDoha.

All properties have been designedwith layouts that optimise andcomplement their location within thetower. Some have terraces, othersbenefit from courtyards, porches andbalconies. The result is a high level ofindividuality in Altair not usuallyassociated with residential towers.

Living areas are purposely open-plan,ensuring rooms benefit from naturallight and create a spacious andgenerous atmosphere. Clearly definedkitchen and dining area, are a productof the functional design.

Designed to embrace Arabic architecture,yet represent it in a contemporary fashion.

The Altair Development18



Pictures clockwise: Interior living area illustration with sea view. Spacious open kitchen and dining area.Master bedroom showing large open plan living through to sun terrace.

Interiors

Mirroring the architectural design of thedevelopment, the interior is equallysuccessful in its fusion of ornate Arabicstyle and modern contemporary features.

Every thought has been given to thecolours, finishes, furniture and lightingto ensure something of beauty anddesirability is achieved, yet equalconsideration has been given to thebuildings internal space, ensuring thatboth public and private areas workefficiently to meet the practical needsof the residents.

Apartment owners have the choice of 2interior colour schemes, with top of therange kitchen appliances.

20


The Altair Development


Facilities

To complement the superb livingaccommodation, courtyards and othercommunal areas, residents benefit froma range of leisure facilities and amenities,including:

Infinity swimming pool

Gymnasium /Health Club

Direct access to beach and beach club

Landscaped gardens

Café

Parking Spaces

Each 1 bedroom property benefits

from 1 parking space.

Properties with 2 bedrooms or more

benefit from 2 parking spaces.

12 self contained garages are incorporated

within the podium at ground level (these

are allocated to premier 2 & 3 bedroom

beach villa properties).

The Altair Development

Unit Size Number Percentage Size Range (Sq.m)

1 Bedroom 50 29% 88 - 166

2 Bedroom 86 51% 119 - 264

3 Bedroom 32 19% 182 - 540

4 Bedroom 2 1% 402 - 830

Total 170 100% Pictures clockwise: The Waterfront developments courtyard. Illustration of the main roadside entrance.Night time render of the development. Pool area showing direct access to the beach.

22

Development Specifications



Mr. Al Hassan’s career started with the Qatari ArmedSpecial Forces in 1985, he was then transferred to theEmiri Air Force in 1992 where he served until 2007.

He holds a Masters in General Law from the AmericanUniversity of London and has been a part timepractitioner at Khalid Al Attiya Legal Consultant andAttorney in Qatar since 1997.

Mr. Al Hassan is a licensed Lawyer in the State ofQatar, specializing in Commercial Law andArbitration.

In 2006, Mr. Al Hassan was appointed GeneralManager for Tameer Real Estate Co. WLL. Tameer iscurrently owing, developing and managing 8construction projects in Qatar for a total value ofmore than USD 200 MM including Tameer Village USD40 MM, Al-Sadd III Project USD 45 MM and the EnergyCity Project USD 68 MM.

Ahmad Saaed Al HassanGeneral Manager

On graduating from the Michigan Aquinas College inthe USA with a Science in Business administrationdegree, Mr Abdulaziz joined Qatar Central Bank, Dohaas an Auditing Supervisor.

After 2 years at the bank, he joined Al-Attiya Motors &Trading Company, part of the Al-Attiya Group (AGTC)as General Manager, responsible for sole distributionof Kia Motors and Renault Trucks. This was thebeginning of his successful career at AGTC and in1995 he was promoted to the position of ManagingDirector for the Group.

Mr Abdulaziz was MD for 7 years before achieving hissecond promotion to Chairman of the Board ofDirectors. He has played a key role in leading theorganisation to become one of Qatar’s leading groupsof companies to provide varied services to a range ofcompanies, including oil, gas, educational andmedical.

Abdulaziz Bin Mohamed Al AttiyaChairman, Tameer Real Estate

Philip Back joined Kenmore in August 2007 to

support Kenmore's development division in the

Middle East. Philip has over ten years construction

and development experience obtained in the

construction and development industry in and

around central London. He moved to the Middle East

in 2004 and has worked on the prestigious Kempinski

Hotel, Mall of Emirates and lead the development of a

325 hectare mixed use community in Dubailand.

Andrew White joined Kenmore in 1998 and helped to

establish Kenmore's regional UK office platform. In

2006 Andrew set up Kenmore's Dubai office and he

now oversees all activity in the Middle East. Andrew

has significant investment and development

experience from previous roles at two major funding

institutions, Sunlife Properties and Hill Samuel Asset

Management.

Key Executives

Andrew WhiteHead of Middle East

(KPG main Board Director)

Philip BackDevelopment Director


24

Will Hean joined Kenmore as Investment Director in

the Middle East in April 2007. Will is a Chartered

Surveyor with 18 years experience in the commercial

property market having worked in London and Hong

Kong for major property consultancies before

returning to Scotland in 1996 to jointly set up

Roxburgh & Co Property Consultants

Will HeanInvestment Director


Andy joined Select’s investment division, ONUS in2007 from Epiphany (Nasdaq floated) where he wasGeneral Manager for Europe, Middle East, and Africa.Andy developed Epiphany from start up in 2001 tosuccessful sale in 2006.

Prior to this Andy was the Finance Director for OracleCorporation’s Australasian business.

Andy is a member of the Institute of CharteredManagement Accountants, and has a BSC (Hons) inCivil Engineering from the University of ManchesterInstitute of Science and Technology. Andy has over 23years of experience in general management, financeand civil engineering.

Oliver, a lawyer by profession, has been working withAbdulaziz Bin Mohammed Al Attiya and othermembers of the Al Attiya family in Qatar since 1998.

Oliver is an expert in GCC construction law and hasmanaged large real estate development projects inQatar for the Al Attiya family for many years such asinter alias the Al Waha Tower, project size USD 70 MM,the Zadara Tower, project size USD 145 MM and theLusail Waterfront Tower, project size USD 90 MM.Oliver is managing ME Alignment WLL, a real estateproject development company wholly owned by theAl Attiya family.

Christoph has a Master in Pedagogy. He started his

professional career in tourism developing product lines

for European tour operators. This led to further tourism

related project developments in the airline and hotel

business. Since 1985 he has been active in the Middle

East where the project development activities expanded

into general Real Estate developments in Dubai, Abu

Dhabi and Qatar including office, residential, mixed use

and leisure & sports projects.

Key Executives

Oliver AlexanderManaging Director

Andrew McEwanDirector

Select Property

Christoph KunzManaging Director

Mark StottCheif Executive Officer

Select Property Group Limited

Mark established Select Property Group in 2003having identified the opportunity for off-planproperty investment in Dubai.

Mark has 15 years experience of developingbusinesses across the retail, hospitality, automotiveand property industries.

Mark is an entrepreneur with over five yearsexperience in the property market in the Middle East.

Mark has developed successful relationships withmarket leaders within the property developmentindustry across Europe, the Middle East and Africa.


26


A 42-storey tower in the Dafna Area of Doha,Al Waha Tower comprises 234 residential unitswith car parking facilities and a list of exquisiteamenities including spa, swimming pool andrestaurant.

ME Alignment’s ManagementTrack Record / References

Al Waha Tower, QatarTotal Units 234Entire development sold beforeconstruction commencement

This commercial tower is ideally located withinJumeirah Lake Towers, Dubai. Comprising 42floors and offering a prime location forcompanies to be based, the tower has beendeveloped in coordination with the SwissCommunity and Consulate in Dubai.

Swiss Tower, DubaiPre Sold

Located in the prestigious Dafna Area in Doha,the 44-storey residential tower has a moderndesign comprising 325 properties completewith 2, 3 and 4 bedroom apartments.

Sadara Tower, QatarSold Out, Total Units 325Entire development sold beforeconstruction commencement


• Initiator of Project & Owner’s representative

• Project development and coordination

• Establishment of financial models and structure

• Design briefing and management

• Development and management of marketing

• Negotiations and conclusion of construction contract

• Management of complete tower sale

• Representative of the owner

• Review of planning concept – including optimizing efficiency of project



• Creation of Investor’s brochure

• Exclusive Sales Agent

• Project Value: USD 99m

• Initiator of Project & Owner’s representative

• Project development and coordination


• Design briefing and management


• Exclusive Sales Agent

• Project Value: USD 85m.

ME Alignment Management’s role

28


Kenmore Management Track Record / References

Express Management, Dubai

Express Management is a mixed usedevelopment, well located in Dubai InvestmentPark (DIP), adjacent to the new Dubai WorldCentral Airport.

The Greens, Plot 22, Dubai

Kenmore acquired one of the largest plotson The Greens development. The plot offersa direct golf-facing aspect with exquisitefacilities.

Al Seef Island, Raha Beach,Abu Dhabi

An exclusive island in the Raha Beach overallmaster-plan Abu Dhabi, Al Seef Island is aluxury resort with direct access to a broadwalkpromenade and the beach.


Kenmore’s Role: Development Mangers and Investors

Development Details: 3 plots in total: 2 plots for labour accommodation for

a total of 480 rooms, 1 plot for 5,200 sqm (56,000 sq ft

of warehousing.

Completion: Expected Q2 2010.


Development Details: Plot 22, one of the largest plots within The Greens

development

Apartments & Facilities: 7000 sqm (75,000 sqft) of high quality 1,2 and 3

bedroom apartments

Sold Out: Site sold Q2 2008


Development Details: Planning consent consists within the island totals 62,

300 sq m (670,000 sq ft) of Gross Floor Area (GFA)

Proposed Scheme: A total of 65 larger villas averaging 930 sqm

(10,000 sq. ft.)

Completion: Expected Q2 2012

30


Landmark 81 storey super tower developmentlocated at the mouth of Dubai Marina. One,two and three beds, and penthouses rangingfrom US$ 190,000 to US$ 1.9 million.

Select Property’s Track Record / References

The Torch, Dubai MarinaTotal Units 658

This 27 storey development occupies a superblocation on the marina, sitting right at thewaters edge. One, two and three beds, and

luxury penthouses and villas ranging from US$

130,000 to US$ 952,000.

The Point, Dubai MarinaTotal Units 188

Consists of three towers, one of which is aMarriot 5* hotel under the Renaissance brandwhich will provide A La Carte services toresidents. Studios, one and two beds, marinasuites and penthouses ranging fromUS$ 171,000 to US$ 2.8 million.

Bay Central, Dubai MarinaTotal Units 751


Construction Company: Dubai Civil Engineering

Architects: National Engineering Bureau

Piling Company: Zublin

Retail Value: US$ 210 million / AED 772 million

Status: Sold out

Estimated Completion: January 2010


Architects: National Engineering Bureau

Piling Company: Bauer


Status: Sold out

Development Status: Complete


Architects: John Harris and Partners

Piling Company: Bauer


Status: Sold out

Estimated Completion: December 2010

30


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