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FW: Banks - Urgent ++ Tameer Towers A&B

Federico Tauber
Sent: Friday, October 11, 2013 12:58 PM
To: Abdullah Al Rajhi
Cc: Eng. Ahmed Al Rajhi; Hgaze Mohammed; Yousif Naji
image001.jpg (3 KB); THI Options- BB Plots 10.1~1.pdf (91 KB)[Open as Web Page]
Dear Sir,

We have run the cash flow without BB project and selling the plots for 1,000 million.AED.
We have deducted 20 million transfer fee and added 65 million for better sales of Imperial. We are
assuming starting Tameer Towers in April 2014 . The better sales of the retail have been included

The cash needs at the end of 2016 are 333 million and the peak is at end of 2018 (530 million) because
we continue paying ADIB loan.

The net cash at the end of the projection is 422 million.

In our previous projection (TT in April 2014) the net result at the end was 79 million. But we were not
considering the sales of the 2 bb plots.
Also we consider profit of BB003 project as 750 million. We now estimate that could be 1000 million. So
comparing apples to apples the alternative of 422 million final cash result could be 822 million if we sell
only the 2 business remaining business bay plots for 400 million.

The broker advised that the buyer rejected the 1.3 billion and made a final offer of 900 million.

Kind Regards,