Medina, Saudi Arabia

Dar Al Aman School

Dashboard

Key Assumptions
Project cost Total Rent Rent/m2/month
(*) (1st year) (1st year)
Initial Building Rent 10.5% of project cost SAR 59,245,090 SAR 6,220,734 SAR 19.40
Exit Year 1 year(s) since operation Year 2024
Exit Cap Rate 8.25%
Interest rate 6.00% Duong Hoang:
Cost of equity 15.0% Please enter a whole number between 1 and 40 for different E
see changes in Statistics, Charts and Returns

(*) change the assumptions in blue to see changes in returns

Uses of Funding:
Land costs 16,020,580 26%
Hard costs 38,376,931 62%
Soft costs 2,465,225 4%
Other costs 6,617,354 11%
Contractor retention (1,918,847) -3%
Total 61,561,243 100%

Uses of Fund
Contractor retention ; -3%
Other costs ; 11%

Soft costs ; 4%

Land costs ; 26%

Hard costs ; 62%

Sources of Fund during Development Period Total

Equity 14,999,864
Contribution in kind (land) 14,812,890
Contribution in cash 186,974
Collection from school operator (land lease & building rent advance) 6,961,379
Bank loans 39,600,000
Total 61,561,243

Sources of Fund during Developm

18,000,000
16,000,000
14,000,000
12,000,000
10,000,000
8,000,000
6,000,000
4,000,000
2,000,000
-
Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22

Cash Flow in Operating Years Year 1

Building Rent -
Furniture cost reimbursement 825,000
Loan interest payments during operation (2,185,920)
Capex (62,207)
Loan principal repayment (6,336,000)
Retention payment (1,918,847)
Equity injection 9,800,000
Dividend distribution -
Closing cash balance 122,026

Cash Flow in Operati

2,000,000
 0
1

Operating Year --> -1 -1

Total
CASH FLOW TO EQUITY Jun-21 Sep-21

Equity (24,799,864) (14,912,890) -

Contribution in kind (land) (14,812,890) (14,812,890) -
Contribution in cash (9,986,974) (100,000) -
Dividend distribution - - -
True-up adjustment at exit 122,026 - -
Bank loan Principal Repayment (33,264,000) - -
Terminal Value of Operation 75,402,842 - -
Transaction cost (1,885,071) - -
RETT (real estate transaction tax) (3,770,142) - -
Net Levered Cash Flow 11,805,790 (14,912,890) -

Equity IRR (Levered IRR) 23.6%

Equity Multiple 1.48x

Cash Flow to Equ

80,000,000

70,000,000

60,000,000

50,000,000

40,000,000

30,000,000

20,000,000

10,000,000

(10,000,000)

(20,000,000)

(30,000,000)

(40,000,000)
Jun-21 Sep-21 Dec-21 Mar-22 Jun-22
 (20,000,000)

(30,000,000)

(40,000,000)
Jun-21 Sep-21 Dec-21 Mar-22 Jun-22

Sensitivity Analysis Impact on IRR

IRR by + IRR by -
by +
Construction Cost (+/- 25%) 26.8% 20.3% 3.2%
Initial Building Rent (+/- 1.25% of total project cost) 37.5% 6.2% 14.0%
Interest Rate (+/- 2.5% in absolute amount) 20.3% 26.7% -3.3%
Exit Cap Rate (+/- 1.25% in absolute amount) 6.1% 42.0% -17.5%

Impact on IRR By Change in Assum

Exit Cap Rate (+/- 1.25% in absolute amount)

Initial Building Rent (+/- 1.25% of total project cost)

Construction Cost (+/- 25%)

Interest Rate (+/- 2.5% in absolute amount)

-20.0% -15.0% -10.0% -5.0% 0.0% 5.0%

 Returns

Equity IRR (Levered IRR) 23.6%

Equity Multiple 1.48x
ROI 47.6%
Equity NPV @ 15.0% SAR 3,269,109
ber between 1 and 40 for different Exit Years to
Charts and Returns Project IRR (Unlevered IRR) 14.1%
Project NPV @ 15.0% SAR 4,260,636

Sources of Funding:
Equity 14,999,864
Contribution in kind (land) 14,812,890
Contribution in cash 186,974
Bank loans 39,600,000
Collection from school operator 6,961,379
Total 61,561,243

Sources of Fund
Collection from school operator
11%

Equity
24%

Bank loans
64%

Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22

 14,912,890 - - - - - -
14,812,890 - - - - - -
100,000 - - - - - -
- - - 2,547,579 - 2,547,579 -
900,000 900,000 6,600,000 4,400,000 7,000,000 4,400,000 9,100,000
15,812,890 900,000 6,600,000 6,947,579 7,000,000 6,947,579 9,100,000

of Fund during Development Period

Bank loans

Collection from school op-

erator (land lease & build-
ing rent advance)

Equity

Total

r-22 Jun-22 Sep-22 Dec-22 Mar-23

Cash Flow in Operating Years

 -1 -1 0 0 0 0 1
Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Mar-24

- - - - - (86,974) (9,800,000)
- - - - - - -
- - - - - (86,974) (9,800,000)
- - - - - - -
- - - - - - 122,026
- - - - - - (33,264,000)
- - - - - - 75,402,842
- - - - - - (1,885,071)
- - - - - - (3,770,142)
- - - - - (86,974) 26,805,655

Cash Flow to Equity

Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Mar-24

 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Mar-24

Impact on Impact on
ABS Rank Output Driver
IRR by - IRR by +
-3.3% 3.3% 1 3.1% Interest Rate (+/- 2.5% in absolute a -3.3%
-17.4% 17.4% 2 3.3% Construction Cost (+/- 25%) 3.2%
3.1% 3.1% 3 17.4% Initial Building Rent (+/- 1.25% of tota 14.0%
18.4% 18.4% 4 18.4% Exit Cap Rate (+/- 1.25% in absolute -17.5%

act on IRR By Change in Assumption

Impact on IRR by +
Impact on IRR by -

-10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0%

 24%

64%
11%
100%

Mar-23
 86,974
-
86,974
1,866,220
6,300,000
8,253,195
Impact on
IRR by -
3.1%
-3.3%
-17.4%
18.4%
Medina, Saudi Arabia
Dar Al Aman School #REF! #REF!
Development Assumptions 84,301

PROJECT DEVELOPMENT ASSUMPTIONS

Site & Development Summary Expected Timeline

Land area 12,043 m2 Start of Construction Oct-21
Land value Start of Operation Apr-23
Per m2 1,230 SAR
Total 14,812,890 SAR
Plot ratio 2.2

Development Parameters GFA (Gross Floor Area)

Boys section Girls section Total

Total Tatweer Buildings Company Requirements 5,481.94 8,823.05 14,304.99

common 149.50 207.64 357.14
nursery - 327.00 327.00
Kindergarten - 405.48 405.48
Primary Section 1,391.55 2,451.27 3,842.82
Intermediate Section 870.68 988.03 1,858.71
Secondary Section 1,762.21 2,666.94 4,429.15
outdoor spaces 1,308.00 1,776.70 3,084.70
Total additional areas 7,227.00 7,073.25 14,300.25
senior management 90.00 - 90.00
School administration and services 3,659.00 3,841.25 7,500.25
outdoor service 178.00 148.00 326.00
School theater 700.00 - 700.00
swimming pool 300.00 300.00 600.00
outside Parking 1,620.00 1,584.00 3,204.00
Basement parking 680.00 1,200.00 1,880.00

TOTAL (Excluding Basement) 12,028.94 14,696.30 26,725.24

TOTAL (Including Basement) 12,708.94 15,896.30 28,605.24

Project Cost
SAR

Land Costs: 16,020,580

Land value 14,812,890
Govermental Fees 1,207,690

Hard costs: SAR/m2 GFA Boys section Girls Section Total

Total Tatweer Buildings Company Requirements
common 1,600 239,198 332,220 571,418
nursery 1,600 - 523,200 523,200
Kindergarten 1,600 - 648,768 648,768
Primary Section 1,600 2,226,478 3,922,029 6,148,507
Intermediate Section 1,600 1,393,090 1,580,849 2,973,939
Secondary Section 1,600 2,819,542 4,267,097 7,086,639
outdoor spaces 800 1,046,400 1,421,360 2,467,760
Total additional areas
senior management 1,650 148,500 - 148,500
School administration and services 1,600 5,854,400 6,146,000 12,000,400
outdoor service 800 142,400 118,400 260,800
School theater 1,500 1,050,000 - 1,050,000
swimming pool 1,800 540,000 540,000 1,080,000
outside Parking 250 405,000 396,000 801,000
Basement parking 1,700 1,156,000 2,040,000 3,196,000
Total Hard costs (before savings) 17,021,008 21,935,923 38,956,931
Construction cost savings (580,000)
Total Hard costs (after savings) 38,376,931
[Link]
Medina, Saudi Arabia
Dar Al Aman School #REF! #REF!
Development Assumptions 84,301

Soft Costs: % of Hard Costs (before savings)

Development cost (overhead and indirect cost) 1.8% 701,225
Development fee (income to Project Development Unit) 600,000
Design Consultancy 0.8% 300,000
Supervision Consultancy 2.2% 864,000
Total Soft costs 4.8% 0.0% 2,465,225

Other costs:
Elevator 400,000
Air conditioning 818,000
Furniture 3,000,000
Interest During Construction 1,815,000
Reserve 1.5% of hard cost before savings 584,354
Total Other costs 6,617,354

Total Project Cost (excluding furniture, interest, savings & land value) 44,432,200
Total Project Cost (excluding furniture, interest & savings) 59,245,090
Total Project Cost (all included) 63,480,090

For tax purpose:

Total Project Cost (exluding assumed non-deductible expenses) 62,494,416
In which:
Land 14,812,890
Building 47,681,526

FUNDING (during development period)

Equity 24%
Debt 64%
Collection from school operator 11%

Debt Facilities - Long term bank loan

Principal 39,600,000
Term 8 years 3.0
Grace Period 2 years 2.5
Interest Rate 6.0% p.a

Equity 14,999,864
Equity in kind (land) 14,812,890
Equity in cash 186,974

Collection from school operator 6,961,379

Land lease 740,645
Building rent advance 6,220,734

Total Capital Raised/Deployed 61,561,243

Sources and Uses of Funds

Sources of Funding: Uses of Funding:

Equity 14,999,864 24% Land costs 16,020,580 26%

Contribution in kind (land) 14,812,890 Hard costs 38,376,931 62%
Contribution in cash 186,974 Soft costs 2,465,225 4%
Bank loans 39,600,000 64% Other costs 6,617,354 11%
Collection from school operator 6,961,379 11% Contractor retention (1,918,847) -3%
Total 61,561,243 100% Total 61,561,243 100%

[Link]
 Medina, Saudi Arabia
Dar Al Aman School
Project Cash Flow

Year -1 -1 -1 -1 0 0 0 0
Quarter-end date --> (Unit: SAR)
CONSTRUCTION CASH FLOW Total Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Mar-24
APPROVALS CONSTRUCTION
Use of Funds
- Land costs 16,020,580 15,416,735 603,845 - - - - - -
Land value 14,812,890 14,812,890 - - - - - - -
Govermental Fees 1,207,690 603,845 603,845 - - - - - -
- Hard costs 38,376,931 - - 6,140,309 6,524,078 6,524,078 6,524,078 6,524,078 6,140,309
- Soft costs 2,465,225 282,653 282,653 366,653 306,653 306,653 306,653 306,653 306,653
Development cost (overhead and indirect cost) 701,225 87,653 87,653 87,653 87,653 87,653 87,653 87,653 87,653
Development fee (income to Project Development Unit) 600,000 75,000 75,000 75,000 75,000 75,000 75,000 75,000 75,000
Design Consultancy 300,000 120,000 120,000 60,000 - - - - -
Supervision Consultancy 864,000 - - 144,000 144,000 144,000 144,000 144,000 144,000
- Other costs 6,617,354 17,946 31,446 158,682 245,271 330,771 416,271 2,653,157 2,763,810
Elevator 400,000 - - - - - - 200,000 200,000
Air conditioning 818,000 - - - - - - 409,000 409,000
Furniture 3,000,000 - - - - - - 1,500,000 1,500,000
Interest During Construction 1,815,000 6,750 20,250 76,500 159,000 244,500 330,000 431,250 546,750
Reserve 584,354 11,196 11,196 82,182 86,271 86,271 86,271 112,907 108,060

(Retention from contractor)/Final payment to contractor (1,918,847) - - (307,015) (326,204) (326,204) (326,204) (326,204) (307,015) 1,918,847
- - - - - - -
- Total Uses of Funds (during development period) 61,561,243 15,717,334 917,944 6,358,628 6,749,798 6,835,298 6,920,798 9,157,685 8,903,757
Sources of Funds
Equity 14,999,864 14,912,890 - - - - - - 86,974
Contribution in kind (land) 14,812,890 14,812,890 - - - - - - -
Contribution in cash 186,974 100,000 - - - - - - 86,974
Collection from school operator (land lease & building rent advance) 6,961,379 - - - 2,547,579 - 2,547,579 - 1,866,220
Bank loans 39,600,000 900,000 900,000 6,600,000 4,400,000 7,000,000 4,400,000 9,100,000 6,300,000
Total Sources of Funds 61,561,243 15,812,890 900,000 6,600,000 6,947,579 7,000,000 6,947,579 9,100,000 8,253,195

Cash Balance - 95,556 77,611 318,983 516,764 681,466 708,247 650,562 -

Debt repayment during construction - - - - - - - - -

PROJECT CASH BALANCE AFTER DEBT REPAYMENT - 95,556 77,611 318,983 516,764 681,466 708,247 650,562 0

Assumed Payment Schedule

Land costs
Land value 100% 100.0%
Govermental Fees 100% 50.0% 50.0%
Hard costs 100% 16.0% 17.0% 17.0% 17.0% 17.0% 16.0%
Soft costs
Development cost (overhead and indirect cost) 100% 12.5% 12.5% 12.5% 12.5% 12.5% 12.5% 12.5% 12.5%
Development fee (income to Project Development Unit) 100% 12.5% 12.5% 12.5% 12.5% 12.5% 12.5% 12.5% 12.5%
Design Consultancy 100% 40.0% 40.0% 20.0%
Supervision Consultancy 100% 16.7% 16.7% 16.7% 16.7% 16.7% 16.7%
Other costs
Elevator 100% 50% 50.0%
Air conditioning 100% 50% 50.0%
Furniture 100% 50% 50.0%

Exit Year 1 year(s) since operation

Exit Year
Operating Year --> -1 -1 -1 -1 0 0 0 0 1 2 3 4 5 6 7 8
Total
CASH FLOW TO EQUITY (NET LEVERED CASH FLOW) Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Mar-24 Mar-25 Mar-26 Mar-27 Mar-28 Mar-29 Mar-30 Mar-31
Equity (24,799,864) (14,912,890) - - - - - - (86,974) (9,800,000) - - - - - - -
Contribution in kind (land) (14,812,890) (14,812,890) - - - - - - -
Contribution in cash (9,986,974) (100,000) - - - - - - (86,974) (9,800,000) - - - - - - -
Dividend distribution - - - - - - - - -
True-up adjustment at exit 122,026 122,026 - - - - - - -
Bank loan Principal Repayment (33,264,000) (33,264,000) - - - - - - -
Terminal Value of Operation 75,402,842 75,402,842 - - - - - - -
Less: transaction cost (1,885,071) (1,885,071) - - - - - - -
Less: RETT (real estate transaction tax) (3,770,142) (3,770,142) - - - - - - -
Net Levered Cash Flow 11,805,790 (14,912,890) - - - - - - (86,974) 26,805,655 - - - - - - -

Equity IRR (Levered IRR) 23.6%

Equity Multiple 1.48x
ROI 47.6%

Cost of equity 15.0%

Equity NPV @ 15.0% 3,269,109

Loan schedule:
Withdrawal 900,000 900,000 6,600,000 4,400,000 7,000,000 4,400,000 9,100,000 6,300,000 - - - - - - - -
Interest Payment (6,750) (20,250) (76,500) (159,000) (244,500) (330,000) (431,250) (546,750) (2,185,920) (1,805,760) (1,425,600) (1,045,440) (665,280) (237,600) - -
Principal Repayment - - - - - - - - (6,336,000) (6,336,000) (6,336,000) (6,336,000) (6,336,000) (7,920,000) - -

Project Cash Flow (Net Unlevered Cash Flow) 15,806,710 (15,806,140) (879,750) (6,523,500) (4,241,000) (6,755,500) (4,070,000) (8,668,750) (5,840,224) 68,591,575 - - - - - - -

Project IRR (Unlevered IRR) 14.1%

Project NPV @ 15.0% 4,260,636

Discount rate:
Equity 24,799,864
Debt 39,600,000
Cost of debt 6.0%
Tax rate 0.0%
WACC 9.5%
 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34
Mar-32 Mar-33 Mar-34 Mar-35 Mar-36 Mar-37 Mar-38 Mar-39 Mar-40 Mar-41 Mar-42 Mar-43 Mar-44 Mar-45 Mar-46 Mar-47 Mar-48 Mar-49 Mar-50 Mar-51 Mar-52 Mar-53 Mar-54 Mar-55 Mar-56 Mar-57
- - - - - - - - - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - - - - - - - - -
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 35 36 37 38 39 40
Mar-58 Mar-59 Mar-60 Mar-61 Mar-62 Mar-63
- - - - - -

- - - - - -
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Medina, Saudi Arabia
Dar Al Aman School
Bank Loan

Bank Loan Long term Facility

Total Principal 39,600,000
Denomination SAR
Duong Hoang:
Effective Interest Rate 6.0%
Loan tenor can be 7-9 y
Terms (in years) 8 terms can be 2 years gr
Grace Period (in years) 2 and 5-7 years repaymen
Interest Payment Quarterly Payment the last year.
Principal Repayment Yearly Payment
First Disbursement Jun-21
Balloon payment in the last year 20%

New Borrowing Total

Beginning Balance -
Withdrawal 39,600,000
Interest Payment (9,180,600)
Principal Repayment (39,600,000)
Debt Service Payment (48,780,600)
Ending Balance -
Duong Hoang:
Loan tenor can be 7-9 years. The loan repayment
terms can be 2 years grace period with interest-only
and 5-7 years repayment with a balloon of 20% in
the last year.

APPROVALS CONSTRUCTION
Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22
- 900,000 1,800,000 8,400,000 12,800,000 19,800,000 24,200,000
900,000 900,000 6,600,000 4,400,000 7,000,000 4,400,000 9,100,000
(6,750) (20,250) (76,500) (159,000) (244,500) (330,000) (431,250)

(6,750) (20,250) (76,500) (159,000) (244,500) (330,000) (431,250)

900,000 1,800,000 8,400,000 12,800,000 19,800,000 24,200,000 33,300,000
 OY: Operating Year -->
OY 1 OY 2 OY 3 OY 4 OY 5 OY 6 OY 7
16.0% 16.0% 16.0% 16.0% 16.0% 20.0% 0.0%

Mar-23 Mar-24 Mar-25 Mar-26 Mar-27 Mar-28 Mar-29 Mar-30

33,300,000 39,600,000 33,264,000 26,928,000 20,592,000 14,256,000 7,920,000 -
6,300,000 - - - - - - -
(546,750) (2,185,920) (1,805,760) (1,425,600) (1,045,440) (665,280) (237,600) -
(6,336,000) (6,336,000) (6,336,000) (6,336,000) (6,336,000) (7,920,000) -
(546,750) (8,521,920) (8,141,760) (7,761,600) (7,381,440) (7,001,280) (8,157,600) -
39,600,000 33,264,000 26,928,000 20,592,000 14,256,000 7,920,000 - -
 OY 8 OY 9 OY 10 OY 11 OY 12 OY 13 OY 14 OY 15
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

Mar-31 Mar-32 Mar-33 Mar-34 Mar-35 Mar-36 Mar-37 Mar-38

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
OY 16 OY 17 OY 18 OY 19 OY 20 OY 21 OY 22 OY 23
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

Mar-39 Mar-40 Mar-41 Mar-42 Mar-43 Mar-44 Mar-45 Mar-46

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
OY 24 OY 25 OY 26 OY 27 OY 28 OY 29 OY 30 OY 31
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

Mar-47 Mar-48 Mar-49 Mar-50 Mar-51 Mar-52 Mar-53 Mar-54

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
OY 32 OY 33 OY 34 OY 35 OY 36 OY 37 OY 38 OY 39
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

Mar-55 Mar-56 Mar-57 Mar-58 Mar-59 Mar-60 Mar-61 Mar-62

- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
OY 40 OY 41
0.0% 0.0%

Mar-63 Mar-64
- -
- -
- -
- -
- -
- -
 Medina, Saudi Arabia
Dar Al Aman School
Land Lease (During Development)

PRO-FORMA INCOME STATEMENT

PRO-FORMA INCOME STATEMENT Approvals

Quarter-end date Jun-21 Sep-21 Dec-21

REVENUE
Land value 14,812,890
Land lease (as % of land value) 5%
Land lease revenue 740,645 - - -
Total Revenue 740,645 - - -
Revenue growth

OPERATING EXPENSE
Outgoings - - - -
Total Operating Expense - - - -

OPERATING PROFIT
Operating Profit 740,645 - - -
Operating Profit Margin 100% n/a n/a n/a

PRO-FORMA CASH FLOW

PRO-FORMA CASH FLOW Approvals

Quarter-end date Jun-21 Sep-21 Dec-21

Cash inflow

Land lease collection (as % of land lease revenue) - - -

Land lease collection - - -
Total cash inflow - - -

Cash outflow - - -
Outgoings payment - - -
Total cash outflow - - -

Net cash movement

Operating profit - - -
 Construction
Mar-22 Jun-22 Sep-22 Dec-22 Mar-23

370,322 - 370,322 - -
370,322 - 370,322 - -

- - - - -
- - - - -

370,322 - 370,322 - -
100% n/a 100% n/a n/a

Construction
Mar-22 Jun-22 Sep-22 Dec-22 Mar-23

50% - 50% - -
370,322 - 370,322 - -
370,322 - 370,322 - -

- - - - -
- - - - -
- - - - -

370,322 - 370,322 - -
 Medina, Saudi Arabia
Dar Al Aman School
Building Rent

PRO-FORMA INCOME STATEMENT

PRO-FORMA INCOME STATEMENT Approvals

Period-end date Jun-21 Sep-21 Dec-21

REVENUE
Total Project Cost (excluding furniture, interest & savings)
Building rent (as % of total project cost)
Building rent revenue
Total Revenue
Rent escalation
Rent per sqm per month

OPERATING EXPENSE
Outgoings
Total Operating Expense

OPERATING PROFIT
Operating Profit
Operating Profit Margin
Yield on Cost

PRO-FORMA CASH FLOW

PRO-FORMA CASH FLOW Approvals
Period-end date Jun-21 Sep-21 Dec-21

Cash inflow
Collection of 1st year's rent (as % of 1st year's revenue) - - -
Rent collection - - -
Total cash inflow - - -
Cash outflow
Outgoings payment - - -
Total cash outflow - - -

Net cash movement

Operating profit - - -
 Construction Year 1 Year 2
Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Mar-24 Mar-25

59,245,090
10.5%
6,220,734 6,220,734
6,220,734 6,220,734
-
19.40 19.40

- -
- -

6,220,734 6,220,734
100% 100%
10.5% 10.5%

Construction Year 1 Year 2

Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Mar-24 Mar-25

35% - 35% - 30%

2,177,257 - 2,177,257 - 1,866,220 - 6,220,734
2,177,257 - 2,177,257 - 1,866,220 - 6,220,734

- - - - - - -
- - - - - - -

2,177,257 - 2,177,257 - 1,866,220 - 6,220,734

 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9
Mar-26 Mar-27 Mar-28 Mar-29 Mar-30 Mar-31 Mar-32

6,220,734 6,531,771 6,531,771 6,531,771 6,858,360 6,858,360 6,858,360

6,220,734 6,531,771 6,531,771 6,531,771 6,858,360 6,858,360 6,858,360
- 5% - - 5% - -
19.40 20.37 20.37 20.37 21.39 21.39 21.39

- - - - - - -
- - - - - - -

6,220,734 6,531,771 6,531,771 6,531,771 6,858,360 6,858,360 6,858,360

100% 100% 100% 100% 100% 100% 100%
10.5% 11.0% 11.0% 11.0% 11.6% 11.6% 11.6%

Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9

Mar-26 Mar-27 Mar-28 Mar-29 Mar-30 Mar-31 Mar-32

6,220,734 6,531,771 6,531,771 6,531,771 6,858,360 6,858,360 6,858,360

6,220,734 6,531,771 6,531,771 6,531,771 6,858,360 6,858,360 6,858,360

- - - - - - -
- - - - - - -

6,220,734 6,531,771 6,531,771 6,531,771 6,858,360 6,858,360 6,858,360

 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16
Mar-33 Mar-34 Mar-35 Mar-36 Mar-37 Mar-38 Mar-39

7,201,278 7,201,278 7,201,278 7,561,342 7,561,342 7,561,342 7,939,409

7,201,278 7,201,278 7,201,278 7,561,342 7,561,342 7,561,342 7,939,409
5% - - 5% - - 5%
22.45 22.45 22.45 23.58 23.58 23.58 24.76

- - - - - - -
- - - - - - -

7,201,278 7,201,278 7,201,278 7,561,342 7,561,342 7,561,342 7,939,409

100% 100% 100% 100% 100% 100% 100%
12.2% 12.2% 12.2% 12.8% 12.8% 12.8% 13.4%

Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16

Mar-33 Mar-34 Mar-35 Mar-36 Mar-37 Mar-38 Mar-39

7,201,278 7,201,278 7,201,278 7,561,342 7,561,342 7,561,342 7,939,409

7,201,278 7,201,278 7,201,278 7,561,342 7,561,342 7,561,342 7,939,409

- - - - - - -
- - - - - - -

7,201,278 7,201,278 7,201,278 7,561,342 7,561,342 7,561,342 7,939,409

 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23
Mar-40 Mar-41 Mar-42 Mar-43 Mar-44 Mar-45 Mar-46

7,939,409 7,939,409 8,336,379 8,336,379 8,336,379 8,753,198 8,753,198

7,939,409 7,939,409 8,336,379 8,336,379 8,336,379 8,753,198 8,753,198
- - 5% - - 5% -
24.76 24.76 25.99 25.99 25.99 27.29 27.29

- - - - - - -
- - - - - - -

7,939,409 7,939,409 8,336,379 8,336,379 8,336,379 8,753,198 8,753,198

100% 100% 100% 100% 100% 100% 100%
13.4% 13.4% 14.1% 14.1% 14.1% 14.8% 14.8%

Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23

Mar-40 Mar-41 Mar-42 Mar-43 Mar-44 Mar-45 Mar-46

7,939,409 7,939,409 8,336,379 8,336,379 8,336,379 8,753,198 8,753,198

7,939,409 7,939,409 8,336,379 8,336,379 8,336,379 8,753,198 8,753,198

- - - - - - -
- - - - - - -

7,939,409 7,939,409 8,336,379 8,336,379 8,336,379 8,753,198 8,753,198

 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30
Mar-47 Mar-48 Mar-49 Mar-50 Mar-51 Mar-52 Mar-53

8,753,198 9,190,858 9,190,858 9,190,858 9,650,401 9,650,401 9,650,401

8,753,198 9,190,858 9,190,858 9,190,858 9,650,401 9,650,401 9,650,401
- 5% - - 5% - -
27.29 28.66 28.66 28.66 30.09 30.09 30.09

- - - - - - -
- - - - - - -

8,753,198 9,190,858 9,190,858 9,190,858 9,650,401 9,650,401 9,650,401

100% 100% 100% 100% 100% 100% 100%
14.8% 15.5% 15.5% 15.5% 16.3% 16.3% 16.3%

Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30

Mar-47 Mar-48 Mar-49 Mar-50 Mar-51 Mar-52 Mar-53

8,753,198 9,190,858 9,190,858 9,190,858 9,650,401 9,650,401 9,650,401

8,753,198 9,190,858 9,190,858 9,190,858 9,650,401 9,650,401 9,650,401

- - - - - - -
- - - - - - -

8,753,198 9,190,858 9,190,858 9,190,858 9,650,401 9,650,401 9,650,401

 Year 31 Year 32 Year 33 Year 34 Year 35 Year 36 Year 37
Mar-54 Mar-55 Mar-56 Mar-57 Mar-58 Mar-59 Mar-60

10,132,921 10,132,921 10,132,921 10,639,567 10,639,567 10,639,567 11,171,545

10,132,921 10,132,921 10,132,921 10,639,567 10,639,567 10,639,567 11,171,545
5% - - 5% - - 5%
31.60 31.60 31.60 33.18 33.18 33.18 34.83

- - - - - - -
- - - - - - -

10,132,921 10,132,921 10,132,921 10,639,567 10,639,567 10,639,567 11,171,545

100% 100% 100% 100% 100% 100% 100%
17.1% 17.1% 17.1% 18.0% 18.0% 18.0% 18.9%

Year 31 Year 32 Year 33 Year 34 Year 35 Year 36 Year 37

Mar-54 Mar-55 Mar-56 Mar-57 Mar-58 Mar-59 Mar-60

10,132,921 10,132,921 10,132,921 10,639,567 10,639,567 10,639,567 11,171,545

10,132,921 10,132,921 10,132,921 10,639,567 10,639,567 10,639,567 11,171,545

- - - - - - -
- - - - - - -

10,132,921 10,132,921 10,132,921 10,639,567 10,639,567 10,639,567 11,171,545

 Year 38 Year 39 Year 40 Year 41
Mar-61 Mar-62 Mar-63 Mar-64

11,171,545 11,171,545 11,730,123 11,730,123

11,171,545 11,171,545 11,730,123 11,730,123
- - 5% -
34.83 34.83 36.58 36.58

- - - -
- - - -

11,171,545 11,171,545 11,730,123 11,730,123

100% 100% 100% 100%
18.9% 18.9% 19.8% 19.8%

Year 38 Year 39 Year 40 Year 41

Mar-61 Mar-62 Mar-63 Mar-64

11,171,545 11,171,545 11,730,123 11,730,123

11,171,545 11,171,545 11,730,123 11,730,123

- - - -
- - - -

11,171,545 11,171,545 11,730,123 11,730,123

 Medina, Saudi Arabia
Dar Al Aman School
Furniture cost reimbursement

PRO-FORMA INCOME STATEMENT Cost of funding (financing cost) for the furniture
PRO-FORMA INCOME STATEMENT Cost Revenue Year 1
Year-end date Mar-24

REVENUE
Furniture cost to reimburse 3,000,000 3,300,000 825,000
Total Revenue 3,000,000 3,300,000 825,000
OPERATING EXPENSE
Outgoings - - -
Total Operating Expense - - -

OPERATING PROFIT
Operating Profit 3,000,000 3,300,000 825,000
Operating Profit Margin 100% 100% 100%

PRO-FORMA CASH FLOW

PRO-FORMA CASH FLOW Year 1
Year-end date Mar-24

Cash inflow
Number of years to reimburse 4
Collection schedule of furniture cost reimbursement 25.0%
Furniture cost reimbursement 825,000
Total cash inflow 825,000
Cash outflow
Outgoings payment -
Total cash outflow -

Net cash movement

Operating profit 825,000
or the furniture 10%
Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8
Mar-25 Mar-26 Mar-27 Mar-28 Mar-29 Mar-30 Mar-31

825,000 825,000 825,000 - - - -

825,000 825,000 825,000 - - - -

- - - - - - -
- - - - - - -

825,000 825,000 825,000 - - - -

100% 100% 100% n/a n/a n/a n/a

Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8

Mar-25 Mar-26 Mar-27 Mar-28 Mar-29 Mar-30 Mar-31

25.0% 25.0% 25.0% 0.0% 0.0% 0.0% 0.0%

825,000 825,000 825,000 - - - -
825,000 825,000 825,000 - - - -

- - - - - - -
- - - - - - -

825,000 825,000 825,000 - - - -

Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15
Mar-32 Mar-33 Mar-34 Mar-35 Mar-36 Mar-37 Mar-38

- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -
n/a n/a n/a n/a n/a n/a n/a

Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15

Mar-32 Mar-33 Mar-34 Mar-35 Mar-36 Mar-37 Mar-38

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -
Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22
Mar-39 Mar-40 Mar-41 Mar-42 Mar-43 Mar-44 Mar-45

- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -
n/a n/a n/a n/a n/a n/a n/a

Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22

Mar-39 Mar-40 Mar-41 Mar-42 Mar-43 Mar-44 Mar-45

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -
Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29
Mar-46 Mar-47 Mar-48 Mar-49 Mar-50 Mar-51 Mar-52

- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -
n/a n/a n/a n/a n/a n/a n/a

Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29

Mar-46 Mar-47 Mar-48 Mar-49 Mar-50 Mar-51 Mar-52

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -
Year 30 Year 31 Year 32 Year 33 Year 34 Year 35 Year 36
Mar-53 Mar-54 Mar-55 Mar-56 Mar-57 Mar-58 Mar-59

- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -
n/a n/a n/a n/a n/a n/a n/a

Year 30 Year 31 Year 32 Year 33 Year 34 Year 35 Year 36

Mar-53 Mar-54 Mar-55 Mar-56 Mar-57 Mar-58 Mar-59

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

- - - - - - -
- - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -
Year 37 Year 38 Year 39 Year 40 Year 41
Mar-60 Mar-61 Mar-62 Mar-63 Mar-64

- - - - -
- - - - -

- - - - -
- - - - -

- - - - -
n/a n/a n/a n/a n/a

Year 37 Year 38 Year 39 Year 40 Year 41

Mar-60 Mar-61 Mar-62 Mar-63 Mar-64

0.0% 0.0% 0.0% 0.0% 0.0%

- - - - -
- - - - -

- - - - -
- - - - -

- - - - -
 Medina, Saudi Arabia
Dar Al Aman School
Consolidated Income Statement & Cash Flow

PRO-FORMA INCOME STATEMENT

PRO-FORMA INCOME STATEMENT Approvals
Period-end date Jun-21 Sep-21 Dec-21

REVENUE
Land lease during development - - -
Building rent - - -
Furniture cost reimbursement
Total Revenue - - -
OPERATING EXPENSE
Outgoings
Land lease during development - - -
Building rent - - -
Furniture cost reimbursement
Total Operating Expense - - -

EBITDA
EBITDA - - -
EBITDA Margin n/a n/a n/a
Check - - -

Depreciation & Amortization

EBIT - - -
Loan interest payments during operation - - -
Long-term Bank Loan
WC Loan
EBT - - -
CIT (Corporate Income Tax) rate 0% 0% 0%
CIT payment - - -

NET PROFIT - - -

GROSS TERMINAL VALUE CALCULATION:

OPERATING INCOME (EBITDA) of Building Rent
Capitalization rate

GROSS TERMINAL VALUE (in SAR)

PRO-FORMA CASH FLOW

PRO-FORMA CASH FLOW Approvals
Period-end date Jun-21 Sep-21 Dec-21

Cash inflow
Land lease during development - - -
Building rent - - -
Furniture cost reimbursement
Total cash inflow - - -
Cash outflow
Outgoings payment
Land lease during development - - -
Building rent - - -
Furniture cost reimbursement
Total cash outflow - - -

Net cash movement

Operating profit (EBITDA) - - -
Check - - -

Loan interest payments during operation

CIT Payment
Cash flow from operation

Cash flow from investment

Capex

Cash flow from financing

Loan principal repayment
Retention payment
Working Capital Loan
Equity injection
Dividend distribution

Cash Movement
Opening Cash Balance
CLOSING CASH BALANCE
 Construction Year 1
Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Mar-24

370,322 - 370,322 - -
- - - - - 6,220,734
825,000
370,322 - 370,322 - - 7,045,734

-
- - - - -
- - - - - -
-
- - - - - -

370,322 - 370,322 - - 7,045,734

100% n/a 100% n/a n/a 100%
- - - - - -

1,204,480
370,322 - 370,322 - - 5,841,255
- - - - - 2,185,920
2,185,920
-
370,322 - 370,322 - - 3,655,335
0% 0% 0% 0% 0% 0%
- - - - - -

370,322 - 370,322 - - 3,655,335

6,220,734
8.25%

75,402,842

Construction Year 1
 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Mar-24

370,322 - 370,322 - -
2,177,257 - 2,177,257 - 1,866,220 -
825,000
2,547,579 - 2,547,579 - 1,866,220 825,000

- - - - -
- - - - - -
-
- - - - - -

2,547,579 - 2,547,579 - 1,866,220 825,000

- - - - - -

(2,185,920)
-
(1,360,920)

(62,207)
(62,207)

1,545,153
(6,336,000)
(1,918,847)
-
9,800,000
-

122,026
-
- 122,026
 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7
Mar-25 Mar-26 Mar-27 Mar-28 Mar-29 Mar-30

6,220,734 6,220,734 6,531,771 6,531,771 6,531,771 6,858,360

825,000 825,000 825,000 - - -
7,045,734 7,045,734 7,356,771 6,531,771 6,531,771 6,858,360

- - - - - -

- - - - - -
- - - - - -
- - - - - -

7,045,734 7,045,734 7,356,771 6,531,771 6,531,771 6,858,360

100% 100% 100% 100% 100% 100%
- - - - - -

1,216,921 1,229,363 1,242,426 1,255,490 1,256,112 1,257,387

5,828,813 5,816,372 6,114,345 5,276,282 5,275,659 5,600,973
1,805,760 1,425,600 1,045,440 665,280 237,600 -
1,805,760 1,425,600 1,045,440 665,280 237,600 -
- - - - - -
4,023,053 4,390,772 5,068,905 4,611,002 5,038,059 5,600,973
0% 0% 0% 0% 0% 0%
- - - - - -

4,023,053 4,390,772 5,068,905 4,611,002 5,038,059 5,600,973

6,220,734 6,220,734 6,531,771 6,531,771 6,531,771 6,858,360

8.25% 8.25% 8.25% 8.25% 8.25% 8.25%

75,402,842 79,172,984 79,172,984 79,172,984 83,131,633 83,131,633

Year 2 Year 3 Year 4 Year 5 Year 6 Year 7

 Mar-25 Mar-26 Mar-27 Mar-28 Mar-29 Mar-30

6,220,734 6,220,734 6,531,771 6,531,771 6,531,771 6,858,360

825,000 825,000 825,000 - - -
7,045,734 7,045,734 7,356,771 6,531,771 6,531,771 6,858,360

- - - - - -
- - - - - -
- - - - - -

7,045,734 7,045,734 7,356,771 6,531,771 6,531,771 6,858,360

- - - - - -

(1,805,760) (1,425,600) (1,045,440) (665,280) (237,600) -

- - - - - -
5,239,974 5,620,134 6,311,331 5,866,491 6,294,171 6,858,360

(62,207) (62,207) (65,318) (65,318) (65,318) (68,584)

(62,207) (62,207) (65,318) (65,318) (65,318) (68,584)

(5,236,000) (5,536,000) (6,236,000) (5,836,000) (6,220,000) -

(6,336,000) (6,336,000) (6,336,000) (6,336,000) (7,920,000) -

- - - - - -
1,100,000 800,000 100,000 500,000 1,700,000 -
- - - - - -

(58,233) 21,927 10,013 (34,827) 8,853 6,789,776

122,026 63,793 85,720 95,734 60,907 69,761
63,793 85,720 95,734 60,907 69,761 6,859,537
 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13
Mar-31 Mar-32 Mar-33 Mar-34 Mar-35 Mar-36

6,858,360 6,858,360 7,201,278 7,201,278 7,201,278 7,561,342

- - - - - -
6,858,360 6,858,360 7,201,278 7,201,278 7,201,278 7,561,342

- - - - - -

- - - - - -
- - - - - -
- - - - - -

6,858,360 6,858,360 7,201,278 7,201,278 7,201,278 7,561,342

100% 100% 100% 100% 100% 100%
- - - - - -

1,258,662 1,259,315 1,260,654 1,261,993 1,262,679 1,264,085

5,599,697 5,599,044 5,940,623 5,939,284 5,938,598 6,297,256
- - - - - -
- - - - - -
- - - - - -
5,599,697 5,599,044 5,940,623 5,939,284 5,938,598 6,297,256
0% 0% 0% 0% 0% 0%
- - - - - -

5,599,697 5,599,044 5,940,623 5,939,284 5,938,598 6,297,256

6,858,360 6,858,360 7,201,278 7,201,278 7,201,278 7,561,342

8.25% 8.25% 8.25% 8.25% 8.25% 8.25%

83,131,633 87,288,215 87,288,215 87,288,215 91,652,625 91,652,625

Year 8 Year 9 Year 10 Year 11 Year 12 Year 13

 Mar-31 Mar-32 Mar-33 Mar-34 Mar-35 Mar-36

6,858,360 6,858,360 7,201,278 7,201,278 7,201,278 7,561,342

- - - - - -
6,858,360 6,858,360 7,201,278 7,201,278 7,201,278 7,561,342

- - - - - -
- - - - - -
- - - - - -

6,858,360 6,858,360 7,201,278 7,201,278 7,201,278 7,561,342

- - - - - -

- - - - - -
- - - - - -
6,858,360 6,858,360 7,201,278 7,201,278 7,201,278 7,561,342

(68,584) (68,584) (72,013) (72,013) (72,013) (75,613)

(68,584) (68,584) (72,013) (72,013) (72,013) (75,613)

(6,900,000) (6,700,000) (6,800,000) (7,200,000) (7,100,000) (7,100,000)

- - - - - -

- - - - - -
- - - - - -
(6,900,000) (6,700,000) (6,800,000) (7,200,000) (7,100,000) (7,100,000)

(110,224) 89,776 329,265 (70,735) 29,265 385,728

6,859,537 6,749,313 6,839,089 7,168,354 7,097,619 7,126,884
6,749,313 6,839,089 7,168,354 7,097,619 7,126,884 7,512,612
 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19
Mar-37 Mar-38 Mar-39 Mar-40 Mar-41 Mar-42

7,561,342 7,561,342 7,939,409 7,939,409 7,939,409 8,336,379

- - - - - -
7,561,342 7,561,342 7,939,409 7,939,409 7,939,409 8,336,379

- - - - - -

- - - - - -
- - - - - -
- - - - - -

7,561,342 7,561,342 7,939,409 7,939,409 7,939,409 8,336,379

100% 100% 100% 100% 100% 100%
- - - - - -

1,265,491 1,266,211 1,267,688 1,269,164 1,269,920 1,271,470

6,295,850 6,295,130 6,671,721 6,670,245 6,669,489 7,064,909
- - - - - -
- - - - - -
- - - - - -
6,295,850 6,295,130 6,671,721 6,670,245 6,669,489 7,064,909
0% 0% 0% 0% 0% 0%
- - - - - -

6,295,850 6,295,130 6,671,721 6,670,245 6,669,489 7,064,909

7,561,342 7,561,342 7,939,409 7,939,409 7,939,409 8,336,379

8.25% 8.25% 8.25% 8.25% 8.25% 8.25%

91,652,625 96,235,257 96,235,257 96,235,257 101,047,019 101,047,019

Year 14 Year 15 Year 16 Year 17 Year 18 Year 19

 Mar-37 Mar-38 Mar-39 Mar-40 Mar-41 Mar-42

7,561,342 7,561,342 7,939,409 7,939,409 7,939,409 8,336,379

- - - - - -
7,561,342 7,561,342 7,939,409 7,939,409 7,939,409 8,336,379

- - - - - -
- - - - - -
- - - - - -

7,561,342 7,561,342 7,939,409 7,939,409 7,939,409 8,336,379

- - - - - -

- - - - - -
- - - - - -
7,561,342 7,561,342 7,939,409 7,939,409 7,939,409 8,336,379

(75,613) (75,613) (79,394) (79,394) (79,394) (83,364)

(75,613) (75,613) (79,394) (79,394) (79,394) (83,364)

(7,500,000) (7,500,000) (7,500,000) (7,800,000) (7,900,000) (7,900,000)

- - - - - -

- - - - - -
- - - - - -
(7,500,000) (7,500,000) (7,500,000) (7,800,000) (7,900,000) (7,900,000)

(14,272) (14,272) 360,015 60,015 (39,985) 353,015

7,512,612 7,498,340 7,484,068 7,844,083 7,904,098 7,864,112
7,498,340 7,484,068 7,844,083 7,904,098 7,864,112 8,217,127
 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25
Mar-43 Mar-44 Mar-45 Mar-46 Mar-47 Mar-48

8,336,379 8,336,379 8,753,198 8,753,198 8,753,198 9,190,858

- - - - - -
8,336,379 8,336,379 8,753,198 8,753,198 8,753,198 9,190,858

- - - - - -

- - - - - -
- - - - - -
- - - - - -

8,336,379 8,336,379 8,753,198 8,753,198 8,753,198 9,190,858

100% 100% 100% 100% 100% 100%
- - - - - -

1,273,020 1,273,814 1,275,442 1,277,069 1,277,903 1,279,612

7,063,359 7,062,565 7,477,756 7,476,129 7,475,295 7,911,246
- - - - - -
- - - - - -
- - - - - -
7,063,359 7,062,565 7,477,756 7,476,129 7,475,295 7,911,246
0% 0% 0% 0% 0% 0%
- - - - - -

7,063,359 7,062,565 7,477,756 7,476,129 7,475,295 7,911,246

8,336,379 8,336,379 8,753,198 8,753,198 8,753,198 9,190,858

8.25% 8.25% 8.25% 8.25% 8.25% 8.25%

101,047,019 106,099,370 106,099,370 106,099,370 111,404,339 111,404,339

Year 20 Year 21 Year 22 Year 23 Year 24 Year 25

 Mar-43 Mar-44 Mar-45 Mar-46 Mar-47 Mar-48

8,336,379 8,336,379 8,753,198 8,753,198 8,753,198 9,190,858

- - - - - -
8,336,379 8,336,379 8,753,198 8,753,198 8,753,198 9,190,858

- - - - - -
- - - - - -
- - - - - -

8,336,379 8,336,379 8,753,198 8,753,198 8,753,198 9,190,858

- - - - - -

- - - - - -
- - - - - -
8,336,379 8,336,379 8,753,198 8,753,198 8,753,198 9,190,858

(83,364) (83,364) (87,532) (87,532) (87,532) (91,909)

(83,364) (83,364) (87,532) (87,532) (87,532) (91,909)

(8,200,000) (8,300,000) (8,200,000) (8,700,000) (8,700,000) (8,600,000)

- - - - - -

- - - - - -
- - - - - -
(8,200,000) (8,300,000) (8,200,000) (8,700,000) (8,700,000) (8,600,000)

53,015 (46,985) 465,666 (34,334) (34,334) 498,949

8,217,127 8,270,143 8,223,158 8,688,824 8,654,490 8,620,156
8,270,143 8,223,158 8,688,824 8,654,490 8,620,156 9,119,106
 Year 26 Year 27 Year 28 Year 29 Year 30 Year 31
Mar-49 Mar-50 Mar-51 Mar-52 Mar-53 Mar-54

9,190,858 9,190,858 9,650,401 9,650,401 9,650,401 10,132,921

- - - - - -
9,190,858 9,190,858 9,650,401 9,650,401 9,650,401 10,132,921

- - - - - -

- - - - - -
- - - - - -
- - - - - -

9,190,858 9,190,858 9,650,401 9,650,401 9,650,401 10,132,921

100% 100% 100% 100% 100% 100%
- - - - - -

1,281,321 1,282,196 1,283,991 1,285,785 1,286,704 1,288,588

7,909,537 7,908,662 8,366,410 8,364,616 8,363,697 8,844,333
- - - - - -
- - - - - -
- - - - - -
7,909,537 7,908,662 8,366,410 8,364,616 8,363,697 8,844,333
0% 0% 0% 0% 0% 0%
- - - - - -

7,909,537 7,908,662 8,366,410 8,364,616 8,363,697 8,844,333

9,190,858 9,190,858 9,650,401 9,650,401 9,650,401 10,132,921

8.25% 8.25% 8.25% 8.25% 8.25% 8.25%

111,404,339 116,974,556 116,974,556 116,974,556 122,823,284 122,823,284

Year 26 Year 27 Year 28 Year 29 Year 30 Year 31

 Mar-49 Mar-50 Mar-51 Mar-52 Mar-53 Mar-54

9,190,858 9,190,858 9,650,401 9,650,401 9,650,401 10,132,921

- - - - - -
9,190,858 9,190,858 9,650,401 9,650,401 9,650,401 10,132,921

- - - - - -
- - - - - -
- - - - - -

9,190,858 9,190,858 9,650,401 9,650,401 9,650,401 10,132,921

- - - - - -

- - - - - -
- - - - - -
9,190,858 9,190,858 9,650,401 9,650,401 9,650,401 10,132,921

(91,909) (91,909) (96,504) (96,504) (96,504) (101,329)

(91,909) (91,909) (96,504) (96,504) (96,504) (101,329)

(9,100,000) (9,100,000) (9,100,000) (9,600,000) (9,500,000) (9,600,000)

- - - - - -

- - - - - -
- - - - - -
(9,100,000) (9,100,000) (9,100,000) (9,600,000) (9,500,000) (9,600,000)

(1,051) (1,051) 453,897 (46,103) 53,897 431,592

9,119,106 9,118,055 9,117,004 9,570,901 9,524,798 9,578,695
9,118,055 9,117,004 9,570,901 9,524,798 9,578,695 10,010,287
 Year 32 Year 33 Year 34 Year 35 Year 36
Mar-55 Mar-56 Mar-57 Mar-58 Mar-59

10,132,921 10,132,921 10,639,567 10,639,567 10,639,567

- - - - -
10,132,921 10,132,921 10,639,567 10,639,567 10,639,567

- - - - -

- - - - -
- - - - -
- - - - -

10,132,921 10,132,921 10,639,567 10,639,567 10,639,567

100% 100% 100% 100% 100%
- - - - -

1,290,472 1,291,437 1,293,416 1,295,394 1,296,407

8,842,449 8,841,484 9,346,151 9,344,173 9,343,160
- - - - -
- - - - -
- - - - -
8,842,449 8,841,484 9,346,151 9,344,173 9,343,160
0% 0% 0% 0% 0%
- - - - -

8,842,449 8,841,484 9,346,151 9,344,173 9,343,160

10,132,921 10,132,921 10,639,567 10,639,567 10,639,567

8.25% 8.25% 8.25% 8.25% 8.25%

122,823,284 128,964,448 128,964,448 128,964,448 135,412,670

Year 32 Year 33 Year 34 Year 35 Year 36

 Mar-55 Mar-56 Mar-57 Mar-58 Mar-59

10,132,921 10,132,921 10,639,567 10,639,567 10,639,567

- - - - -
10,132,921 10,132,921 10,639,567 10,639,567 10,639,567

- - - - -
- - - - -
- - - - -

10,132,921 10,132,921 10,639,567 10,639,567 10,639,567

- - - - -

- - - - -
- - - - -
10,132,921 10,132,921 10,639,567 10,639,567 10,639,567

(101,329) (101,329) (106,396) (106,396) (106,396)

(101,329) (101,329) (106,396) (106,396) (106,396)

(10,000,000) (10,000,000) (10,100,000) (10,500,000) (10,500,000)

- - - - -

- - - - -
- - - - -
(10,000,000) (10,000,000) (10,100,000) (10,500,000) (10,500,000)

31,592 31,592 433,171 33,171 33,171

10,010,287 10,041,878 10,073,470 10,506,641 10,539,813
10,041,878 10,073,470 10,506,641 10,539,813 10,572,984
 Year 37 Year 38 Year 39 Year 40 Year 41
Mar-60 Mar-61 Mar-62 Mar-63 Mar-64

11,171,545 11,171,545 11,171,545 11,730,123 11,730,123

- - - - -
11,171,545 11,171,545 11,171,545 11,730,123 11,730,123

- - - - -

- - - - -
- - - - -
- - - - -

11,171,545 11,171,545 11,171,545 11,730,123 11,730,123

100% 100% 100% 100% 100%
- - - - -

1,298,484 1,300,562 1,301,626 1,303,807 113,950

9,873,061 9,870,984 9,869,920 10,426,316 11,616,173
- - - - -
- - - - -
- - - - -
9,873,061 9,870,984 9,869,920 10,426,316 11,616,173
0% 0% 0% 0% 0%
- - - - -

9,873,061 9,870,984 9,869,920 10,426,316 11,616,173

11,171,545 11,171,545 11,171,545 11,730,123 11,730,123

8.25% 8.25% 8.25% 8.25% 8.25%

135,412,670 135,412,670 142,183,304 142,183,304 -

Year 37 Year 38 Year 39 Year 40 Year 41

 Mar-60 Mar-61 Mar-62 Mar-63 Mar-64

11,171,545 11,171,545 11,171,545 11,730,123 11,730,123

- - - - -
11,171,545 11,171,545 11,171,545 11,730,123 11,730,123

- - - - -
- - - - -
- - - - -

11,171,545 11,171,545 11,171,545 11,730,123 11,730,123

- - - - -

- - - - -
- - - - -
11,171,545 11,171,545 11,171,545 11,730,123 11,730,123

(111,715) (111,715) (111,715) (117,301) (117,301)

(111,715) (111,715) (111,715) (117,301) (117,301)

(10,600,000) (11,000,000) (11,100,000) (11,100,000) (11,600,000)

- - - - -

- - - - -
- - - - -
(10,600,000) (11,000,000) (11,100,000) (11,100,000) (11,600,000)

459,830 59,830 (40,170) 512,821 12,821

10,572,984 11,032,814 11,092,644 11,052,474 11,565,295
11,032,814 11,092,644 11,052,474 11,565,295 11,578,116
Medina, Saudi Arabia
Dar Al Aman School
Depreciation Schedule

Operating Year Year 1 Year 2

Year-end date Mar-24 Mar-25
Project Costs Basis Years %
Total depreciable cost
Land - 0.0% - -
Building 47,681,526 40 2.5% 1,192,038 1,192,038

Total depreciated costs 47,681,526 1,192,038 1,192,038

Repairs & Replacements 62,207 62,207

Year 1 62,207 5 20% 12,441 12,441

Year 2 62,207 5 20% - 12,441
Year 3 62,207 5 20% - -
Year 4 65,318 5 20% - -
Year 5 65,318 5 20% - -
Year 6 65,318 5 20% - -
Year 7 68,584 5 20% - -
Year 8 68,584 5 20% - -
Year 9 68,584 5 20% - -
Year 10 72,013 5 20% - -
Year 11 72,013 5 20% - -
Year 12 72,013 5 20% - -
Year 13 75,613 5 20% - -
Year 14 75,613 5 20% - -
Year 15 75,613 5 20% - -
Year 16 79,394 5 20% - -
Year 17 79,394 5 20% - -
Year 18 79,394 5 20% - -
Year 19 83,364 5 20% - -
Year 20 83,364 5 20% - -
Year 21 83,364 5 20% - -
Year 22 87,532 5 20% - -
Year 23 87,532 5 20% - -
Year 24 87,532 5 20% - -
Year 25 91,909 5 20% - -
Year 26 91,909 5 20% - -
Year 27 91,909 5 20% - -
Year 28 96,504 5 20% - -
 Year 29 96,504 5 20% - -
Year 30 96,504 5 20% - -
Year 31 101,329 5 20% - -
Year 32 101,329 5 20% - -
Year 33 101,329 5 20% - -
Year 34 106,396 5 20% - -
Year 35 106,396 5 20% - -
Year 36 106,396 5 20% - -
Year 37 111,715 5 20% - -
Year 38 111,715 5 20% - -
Year 39 111,715 5 20% - -
Year 40 117,301 5 20% - -
Year 41 117,301 5 20% - -

Total amortization costs 12,441 24,883

Total depreciation and Amortization 1,204,480 1,216,921

Net Building Cost 47,681,526 46,489,488 45,297,450

Net R&R cost - 49,766 87,090
Total Ending 47,681,526 46,539,254 45,384,540

Land - - -

Total FA 47,681,526 46,539,254 45,384,540

 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9
Mar-26 Mar-27 Mar-28 Mar-29 Mar-30 Mar-31 Mar-32

- - - - - - -
1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038

1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038

62,207 65,318 65,318 65,318 68,584 68,584 68,584

12,441 12,441 12,441 - - - -

12,441 12,441 12,441 12,441 - - -
12,441 12,441 12,441 12,441 12,441 - -
- 13,064 13,064 13,064 13,064 13,064 -
- - 13,064 13,064 13,064 13,064 13,064
- - - 13,064 13,064 13,064 13,064
- - - - 13,717 13,717 13,717
- - - - - 13,717 13,717
- - - - - - 13,717
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
 - - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

37,324 50,388 63,451 64,074 65,349 66,624 67,277

1,229,363 1,242,426 1,255,490 1,256,112 1,257,387 1,258,662 1,259,315

44,105,412 42,913,374 41,721,336 40,529,297 39,337,259 38,145,221 36,953,183

111,973 126,903 128,769 130,013 133,248 135,208 136,514
44,217,385 43,040,277 41,850,105 40,659,311 39,470,507 38,280,429 37,089,697

- - - - - - -

44,217,385 43,040,277 41,850,105 40,659,311 39,470,507 38,280,429 37,089,697

 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16
Mar-33 Mar-34 Mar-35 Mar-36 Mar-37 Mar-38 Mar-39

- - - - - - -
1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038

1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038

72,013 72,013 72,013 75,613 75,613 75,613 79,394

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
13,064 - - - - - -
13,717 13,717 - - - - -
13,717 13,717 13,717 - - - -
13,717 13,717 13,717 13,717 - - -
14,403 14,403 14,403 14,403 14,403 - -
- 14,403 14,403 14,403 14,403 14,403 -
- - 14,403 14,403 14,403 14,403 14,403
- - - 15,123 15,123 15,123 15,123
- - - - 15,123 15,123 15,123
- - - - - 15,123 15,123
- - - - - - 15,879
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
 - - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

68,616 69,955 70,641 72,047 73,453 74,173 75,649

1,260,654 1,261,993 1,262,679 1,264,085 1,265,491 1,266,211 1,267,688

35,761,145 34,569,107 33,377,068 32,185,030 30,992,992 29,800,954 28,608,916

139,911 141,968 143,340 146,906 149,066 150,507 154,251
35,901,055 34,711,075 33,520,408 32,331,936 31,142,059 29,951,461 28,763,167

- - - - - - -

35,901,055 34,711,075 33,520,408 32,331,936 31,142,059 29,951,461 28,763,167

 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23
Mar-40 Mar-41 Mar-42 Mar-43 Mar-44 Mar-45 Mar-46

- - - - - - -
1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038

1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038

79,394 79,394 83,364 83,364 83,364 87,532 87,532

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
15,123 - - - - - -
15,123 15,123 - - - - -
15,123 15,123 15,123 - - - -
15,879 15,879 15,879 15,879 - - -
15,879 15,879 15,879 15,879 15,879 - -
- 15,879 15,879 15,879 15,879 15,879 -
- - 16,673 16,673 16,673 16,673 16,673
- - - 16,673 16,673 16,673 16,673
- - - - 16,673 16,673 16,673
- - - - - 17,506 17,506
- - - - - - 17,506
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
 - - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

77,126 77,882 79,432 80,982 81,776 83,403 85,031

1,269,164 1,269,920 1,271,470 1,273,020 1,273,814 1,275,442 1,277,069

27,416,878 26,224,839 25,032,801 23,840,763 22,648,725 21,456,687 20,264,649

156,520 158,032 161,964 164,346 165,934 170,062 172,563
27,573,397 26,382,872 25,194,765 24,005,109 22,814,659 21,626,749 20,437,212

- - - - - - -

27,573,397 26,382,872 25,194,765 24,005,109 22,814,659 21,626,749 20,437,212

 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30
Mar-47 Mar-48 Mar-49 Mar-50 Mar-51 Mar-52 Mar-53

- - - - - - -
1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038

1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038

87,532 91,909 91,909 91,909 96,504 96,504 96,504

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
16,673 - - - - - -
16,673 16,673 - - - - -
17,506 17,506 17,506 - - - -
17,506 17,506 17,506 17,506 - - -
17,506 17,506 17,506 17,506 17,506 - -
- 18,382 18,382 18,382 18,382 18,382 -
- - 18,382 18,382 18,382 18,382 18,382
- - - 18,382 18,382 18,382 18,382
- - - - 19,301 19,301 19,301
 - - - - - 19,301 19,301
- - - - - - 19,301
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

85,865 87,574 89,283 90,158 91,952 93,747 94,666

1,277,903 1,279,612 1,281,321 1,282,196 1,283,991 1,285,785 1,286,704

19,072,611 17,880,572 16,688,534 15,496,496 14,304,458 13,112,420 11,920,382

174,230 178,565 181,191 182,942 187,494 190,251 192,089
19,246,841 18,059,138 16,869,725 15,679,438 14,491,951 13,302,670 12,112,471

- - - - - - -

19,246,841 18,059,138 16,869,725 15,679,438 14,491,951 13,302,670 12,112,471

 Year 31 Year 32 Year 33 Year 34 Year 35 Year 36 Year 37
Mar-54 Mar-55 Mar-56 Mar-57 Mar-58 Mar-59 Mar-60

- - - - - - -
1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038

1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038 1,192,038

101,329 101,329 101,329 106,396 106,396 106,396 111,715

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
18,382 - - - - - -
19,301 19,301 - - - - -
 19,301 19,301 19,301 - - - -
19,301 19,301 19,301 19,301 - - -
20,266 20,266 20,266 20,266 20,266 - -
- 20,266 20,266 20,266 20,266 20,266 -
- - 20,266 20,266 20,266 20,266 20,266
- - - 21,279 21,279 21,279 21,279
- - - - 21,279 21,279 21,279
- - - - - 21,279 21,279
- - - - - - 22,343
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

96,550 98,434 99,399 101,377 103,356 104,369 106,446

1,288,588 1,290,472 1,291,437 1,293,416 1,295,394 1,296,407 1,298,484

10,728,343 9,536,305 8,344,267 7,152,229 5,960,191 4,768,153 3,576,114

196,868 199,763 201,693 206,712 209,751 211,778 217,047
10,925,212 9,736,069 8,545,960 7,358,941 6,169,942 4,979,931 3,793,162

- - - - - - -

10,925,212 9,736,069 8,545,960 7,358,941 6,169,942 4,979,931 3,793,162

 Year 38 Year 39 Year 40 Year 41
Mar-61 Mar-62 Mar-63 Mar-64

- - - -
1,192,038 1,192,038 1,192,038 -

1,192,038 1,192,038 1,192,038 -

111,715 111,715 117,301 117,301

- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
 - - - -
- - - -
- - - -
- - - -
- - - -
21,279 - - -
21,279 21,279 - -
21,279 21,279 21,279 -
22,343 22,343 22,343 22,343
22,343 22,343 22,343 22,343
- 22,343 22,343 22,343
- - 23,460 23,460
- - - 23,460

108,524 109,588 111,769 113,950

1,300,562 1,301,626 1,303,807 113,950

2,384,076 1,192,038 - -
220,239 222,367 227,900 231,251
2,604,315 1,414,405 227,900 231,251

- - - -

2,604,315 1,414,405 227,900 231,251

Medina, Saudi Arabia
Dar Al Aman School
Pro-forma Financial Statements

Summary Balance Sheet (R) -Year 1 Year 0 Year 1

Assets
Cash 516,764 (0) 122,026
PP&E (Net of Accumulated Depreciation) 30,376,925 63,480,090 62,337,818
Total Assets 30,893,689 63,480,090 62,459,844

Liabilities
Accounts Payable 2,810,476 8,139,581 -
Bank Loans (Long-term and WC) 12,800,000 39,600,000 33,264,000
Total Liabilities 15,610,476 47,739,581 33,264,000

Shareholder's Equity
Share Capital 14,912,890 14,999,864 24,799,864
Retained Earnings (Losses) 370,322 740,645 4,395,979
Total Shareholder's Equity 15,283,212 15,740,509 29,195,844

Liabilities & Shareholder's Equity 30,893,689 63,480,090 62,459,844

Check - - -

Summary Cash Flow Statement (R) -1 0 1

Net Income 370,322 370,322 3,655,335

Plus: Depreciation & Amortization 1,204,480
Cash Flow from Operations 370,322 370,322 4,859,814

Cash Flow from Investing

Land costs (16,020,580) - -
Hard costs (12,664,387) (25,712,544) -
Soft costs (1,238,612) (1,226,612) -
Other costs (453,345) (6,164,009) -
Annual Capex (62,207)
Cash Flow from Investing (30,376,925) (33,103,165) (62,207)

Cash Flow from Financing

Equity Contributions 14,912,890 86,974 9,800,000
Building rent advance 2,177,257 4,043,477 (6,220,734)
Retention 633,219 1,285,627 (1,918,847)
Debt 12,800,000 26,800,000 (6,336,000)
Loan Drawdown 12,800,000 26,800,000 -
Loan Principal Repayment - - (6,336,000)
Working Capital Loan -
Dividend Distribution -
Cash Flow from Financing 30,523,366 32,216,079 (4,675,581)
Increase (Decrease) in Cash 516,764 (516,764) 122,026
Cash, Beginning of Period - 516,764 (0)
Cash, End of Period 516,764 (0) 122,026

Check 516,764 0 122,026

(0) (0) (0)
 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8

63,793 85,720 95,734 60,907 69,761 6,859,537 6,749,313

61,183,104 60,015,949 58,838,840 57,648,668 56,457,874 55,269,071 54,078,992
61,246,897 60,101,669 58,934,574 57,709,576 56,527,635 62,128,608 60,828,305

- - - - - - -
26,928,000 20,592,000 14,256,000 7,920,000 - - -
26,928,000 20,592,000 14,256,000 7,920,000 - - -

25,899,864 26,699,864 26,799,864 27,299,864 28,999,864 28,999,864 28,999,864

8,419,033 12,809,805 17,878,710 22,489,711 27,527,771 33,128,743 31,828,441
34,318,897 39,509,669 44,678,574 49,789,576 56,527,635 62,128,608 60,828,305

61,246,897 60,101,669 58,934,574 57,709,576 56,527,635 62,128,608 60,828,305

- - - - - - -

2 3 4 8 6 7 8

4,023,053 4,390,772 5,068,905 4,611,002 5,038,059 5,600,973 5,599,697

1,216,921 1,229,363 1,242,426 1,255,490 1,256,112 1,257,387 1,258,662
5,239,974 5,620,134 6,311,331 5,866,491 6,294,171 6,858,360 6,858,360

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(62,207) (62,207) (65,318) (65,318) (65,318) (68,584) (68,584)
(62,207) (62,207) (65,318) (65,318) (65,318) (68,584) (68,584)

1,100,000 800,000 100,000 500,000 1,700,000 - -

(6,336,000) (6,336,000) (6,336,000) (6,336,000) (7,920,000) - -

- - - - - - -
(6,336,000) (6,336,000) (6,336,000) (6,336,000) (7,920,000) - -
- - - - - - -
- - - - - - (6,900,000)
(5,236,000) (5,536,000) (6,236,000) (5,836,000) (6,220,000) - (6,900,000)
(58,233) 21,927 10,013 (34,827) 8,853 6,789,776 (110,224)
122,026 63,793 85,720 95,734 60,907 69,761 6,859,537
63,793 85,720 95,734 60,907 69,761 6,859,537 6,749,313

63,793 85,720 95,734 60,907 69,761 6,859,537 6,749,313

(0) (0) (0) (0) (0) - -
 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15

6,839,089 7,168,354 7,097,619 7,126,884 7,512,612 7,498,340 7,484,068

52,888,261 51,699,619 50,509,638 49,318,972 48,130,500 46,940,622 45,750,024
59,727,350 58,867,973 57,607,257 56,445,856 55,643,112 54,438,962 53,234,093

- - - - - - -
- - - - - - -
- - - - - - -

28,999,864 28,999,864 28,999,864 28,999,864 28,999,864 28,999,864 28,999,864

30,727,485 29,868,108 28,607,393 27,445,991 26,643,248 25,439,098 24,234,228
59,727,350 58,867,973 57,607,257 56,445,856 55,643,112 54,438,962 53,234,093

59,727,350 58,867,973 57,607,257 56,445,856 55,643,112 54,438,962 53,234,093

- - - - - - -

9 10 11 12 13 14 15

5,599,044 5,940,623 5,939,284 5,938,598 6,297,256 6,295,850 6,295,130

1,259,315 1,260,654 1,261,993 1,262,679 1,264,085 1,265,491 1,266,211
6,858,360 7,201,278 7,201,278 7,201,278 7,561,342 7,561,342 7,561,342

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(68,584) (72,013) (72,013) (72,013) (75,613) (75,613) (75,613)
(68,584) (72,013) (72,013) (72,013) (75,613) (75,613) (75,613)

- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(6,700,000) (6,800,000) (7,200,000) (7,100,000) (7,100,000) (7,500,000) (7,500,000)
(6,700,000) (6,800,000) (7,200,000) (7,100,000) (7,100,000) (7,500,000) (7,500,000)
 89,776 329,265 (70,735) 29,265 385,728 (14,272) (14,272)
6,749,313 6,839,089 7,168,354 7,097,619 7,126,884 7,512,612 7,498,340
6,839,089 7,168,354 7,097,619 7,126,884 7,512,612 7,498,340 7,484,068

6,839,089 7,168,354 7,097,619 7,126,884 7,512,612 7,498,340 7,484,068

- - - - - - -
 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22

7,844,083 7,904,098 7,864,112 8,217,127 8,270,143 8,223,158 8,688,824

44,561,731 43,371,961 42,181,435 40,993,329 39,803,673 38,613,222 37,425,313
52,405,814 51,276,059 50,045,547 49,210,456 48,073,815 46,836,380 46,114,137

- - - - - - -
- - - - - - -
- - - - - - -

28,999,864 28,999,864 28,999,864 28,999,864 28,999,864 28,999,864 28,999,864

23,405,949 22,276,194 21,045,683 20,210,592 19,073,951 17,836,516 17,114,272
52,405,814 51,276,059 50,045,547 49,210,456 48,073,815 46,836,380 46,114,137

52,405,814 51,276,059 50,045,547 49,210,456 48,073,815 46,836,380 46,114,137

- - - - - - -

16 17 18 19 20 21 22

6,671,721 6,670,245 6,669,489 7,064,909 7,063,359 7,062,565 7,477,756

1,267,688 1,269,164 1,269,920 1,271,470 1,273,020 1,273,814 1,275,442
7,939,409 7,939,409 7,939,409 8,336,379 8,336,379 8,336,379 8,753,198

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(79,394) (79,394) (79,394) (83,364) (83,364) (83,364) (87,532)
(79,394) (79,394) (79,394) (83,364) (83,364) (83,364) (87,532)

- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(7,500,000) (7,800,000) (7,900,000) (7,900,000) (8,200,000) (8,300,000) (8,200,000)
(7,500,000) (7,800,000) (7,900,000) (7,900,000) (8,200,000) (8,300,000) (8,200,000)
 360,015 60,015 (39,985) 353,015 53,015 (46,985) 465,666
7,484,068 7,844,083 7,904,098 7,864,112 8,217,127 8,270,143 8,223,158
7,844,083 7,904,098 7,864,112 8,217,127 8,270,143 8,223,158 8,688,824

7,844,083 7,904,098 7,864,112 8,217,127 8,270,143 8,223,158 8,688,824

- - - - - - -
 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29

8,654,490 8,620,156 9,119,106 9,118,055 9,117,004 9,570,901 9,524,798

36,235,775 35,045,404 33,857,701 32,668,289 31,478,002 30,290,515 29,101,234
44,890,266 43,665,561 42,976,807 41,786,344 40,595,006 39,861,416 38,626,032

- - - - - - -
- - - - - - -
- - - - - - -

28,999,864 28,999,864 28,999,864 28,999,864 28,999,864 28,999,864 28,999,864

15,890,401 14,665,696 13,976,943 12,786,480 11,595,142 10,861,552 9,626,168
44,890,266 43,665,561 42,976,807 41,786,344 40,595,006 39,861,416 38,626,032

44,890,266 43,665,561 42,976,807 41,786,344 40,595,006 39,861,416 38,626,032

- - - - - - -

23 24 25 26 27 28 29

7,476,129 7,475,295 7,911,246 7,909,537 7,908,662 8,366,410 8,364,616

1,277,069 1,277,903 1,279,612 1,281,321 1,282,196 1,283,991 1,285,785
8,753,198 8,753,198 9,190,858 9,190,858 9,190,858 9,650,401 9,650,401

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(87,532) (87,532) (91,909) (91,909) (91,909) (96,504) (96,504)
(87,532) (87,532) (91,909) (91,909) (91,909) (96,504) (96,504)

- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(8,700,000) (8,700,000) (8,600,000) (9,100,000) (9,100,000) (9,100,000) (9,600,000)
(8,700,000) (8,700,000) (8,600,000) (9,100,000) (9,100,000) (9,100,000) (9,600,000)
 (34,334) (34,334) 498,949 (1,051) (1,051) 453,897 (46,103)
8,688,824 8,654,490 8,620,156 9,119,106 9,118,055 9,117,004 9,570,901
8,654,490 8,620,156 9,119,106 9,118,055 9,117,004 9,570,901 9,524,798

8,654,490 8,620,156 9,119,106 9,118,055 9,117,004 9,570,901 9,524,798

- - - - - - -
 Year 30 Year 31 Year 32 Year 33 Year 34 Year 35 Year 36

9,578,695 10,010,287 10,041,878 10,073,470 10,506,641 10,539,813 10,572,984

27,911,034 26,723,775 25,534,632 24,344,524 23,157,504 21,968,506 20,778,494
37,489,729 36,734,062 35,576,511 34,417,994 33,664,146 32,508,319 31,351,478

- - - - - - -
- - - - - - -
- - - - - - -

28,999,864 28,999,864 28,999,864 28,999,864 28,999,864 28,999,864 28,999,864

8,489,865 7,734,198 6,576,646 5,418,130 4,664,281 3,508,454 2,351,614
37,489,729 36,734,062 35,576,511 34,417,994 33,664,146 32,508,319 31,351,478

37,489,729 36,734,062 35,576,511 34,417,994 33,664,146 32,508,319 31,351,478

- - - - - - -

30 31 32 33 34 35 36

8,363,697 8,844,333 8,842,449 8,841,484 9,346,151 9,344,173 9,343,160

1,286,704 1,288,588 1,290,472 1,291,437 1,293,416 1,295,394 1,296,407
9,650,401 10,132,921 10,132,921 10,132,921 10,639,567 10,639,567 10,639,567

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(96,504) (101,329) (101,329) (101,329) (106,396) (106,396) (106,396)
(96,504) (101,329) (101,329) (101,329) (106,396) (106,396) (106,396)

- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
(9,500,000) (9,600,000) (10,000,000) (10,000,000) (10,100,000) (10,500,000) (10,500,000)
(9,500,000) (9,600,000) (10,000,000) (10,000,000) (10,100,000) (10,500,000) (10,500,000)
 53,897 431,592 31,592 31,592 433,171 33,171 33,171
9,524,798 9,578,695 10,010,287 10,041,878 10,073,470 10,506,641 10,539,813
9,578,695 10,010,287 10,041,878 10,073,470 10,506,641 10,539,813 10,572,984

9,578,695 10,010,287 10,041,878 10,073,470 10,506,641 10,539,813 10,572,984

- - - - - - -
 Year 37 Year 38 Year 39 Year 40 Year 41

11,032,814 11,092,644 11,052,474 11,565,295 11,578,116

19,591,725 18,402,879 17,212,969 16,026,463 16,029,815
30,624,539 29,495,523 28,265,442 27,591,758 27,607,931

- - - - -
- - - - -
- - - - -

28,999,864 28,999,864 28,999,864 28,999,864 28,999,864

1,624,675 495,658 (734,422) (1,408,106) (1,391,934)
30,624,539 29,495,523 28,265,442 27,591,758 27,607,931

30,624,539 29,495,523 28,265,442 27,591,758 27,607,931

- - - - -

37 38 39 40 41

9,873,061 9,870,984 9,869,920 10,426,316 11,616,173

1,298,484 1,300,562 1,301,626 1,303,807 113,950
11,171,545 11,171,545 11,171,545 11,730,123 11,730,123

- - - - -
- - - - -
- - - - -
- - - - -
(111,715) (111,715) (111,715) (117,301) (117,301)
(111,715) (111,715) (111,715) (117,301) (117,301)

- - - - -

- - - - -
- - - - -
- - - - -
- - - - -
(10,600,000) (11,000,000) (11,100,000) (11,100,000) (11,600,000)
(10,600,000) (11,000,000) (11,100,000) (11,100,000) (11,600,000)
 459,830 59,830 (40,170) 512,821 12,821
10,572,984 11,032,814 11,092,644 11,052,474 11,565,295
11,032,814 11,092,644 11,052,474 11,565,295 11,578,116

11,032,814 11,092,644 11,052,474 11,565,295 11,578,116

- - - - -
Medina, Saudi Arabia
Dar Al Aman School
Sensitivity

SENSITIVITY ANA

Change in Construction Cost 0%

Change in Construction Cost 0% -25% -20% -15%

Equity IRR 0
Equity NPV @ 15.0% 3,269,109

Change in Initial Buiding Rent 0% change as % of total project cost

Building Rent (% of total project cost) 10.5%
Building Rent (SAR) 6,220,734

Building Rent (SAR) 5,480,171 5,628,284 5,776,396

Building Rent (% of total project cost) 9.25% 9.50% 9.75%
Change in Initial Buiding Rent 0% -1.25% -1.00% -0.75%
Equity IRR 0
Equity NPV @ 15.0% 3,269,109

Change in Interest Rate 0% increase/(decrease) in absolute amount

Interest Rate 6.0%

Interest Rate 3.5% 4.0% 4.5%

Change in Interest Rate 0% -2.5% -2.0% -1.5%
Equity IRR 0
Equity NPV @ 15.0% 3,269,109

Exit Cap Rate 8.25%

Exit Cap Rate 8% 7.00% 7.25% 7.50%

Equity IRR 0
Equity NPV @ 15.0% 3,269,109
SENSITIVITY ANALYSIS

-10% -5% 0% 5% 10% 15% 20%

5,924,509 6,072,622 6,220,734 6,368,847 6,516,960 6,665,073 6,813,185

10.00% 10.25% 10.50% 10.75% 11.00% 11.25% 11.50%
-0.50% -0.25% 0.00% 0.25% 0.50% 0.75% 1.00%

5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0%

-1.0% -0.5% 0.0% 0.5% 1.0% 1.5% 2.0%

7.75% 8.00% 8.25% 8.50% 8.75% 9.00% 9.25%

 25%

6,961,298
11.75%
1.25%

8.5%
2.5%

9.50%
 Dar AlAman School

Total Classroom Numbers 134.00 Total Students Numbers 3350

Boys section Girls Section

Internal Internal
Item built up area Nos Total area Item built up area Nos Total area
Spaces Spaces
Tatweer Buildings Company Requirements 5481.94 Tatweer Buildings Company Requirements 8090.57
common common
Bathrooms 1.35 1.53 63.00 96.11 Bathrooms 1.35 1.53 95.00 144.92
sinks 0.75 0.85 21.00 17.80 sinks 0.75 0.85 32.00 27.12
Special Needs Bathrooms 3.15 3.56 10.00 35.60 Special Needs Bathrooms 3.15 3.56 10.00 35.60
Total 149.50 Total 207.64
Kindergarten
Activity room (classroom) 30.00 32.70 5.00 163.50
Bedroom 30.00 32.70 3.00 98.10
Service room 20.00 21.80 3.00 65.40
Total 11.00 327.00
،‫هىيثقلشقفثى‬
Classrooms + private toilets 44.00 47.96 8.00 383.68
Teaching aids library (sandbox room) 20.00 21.80 1.00 21.80
Total 9.00 405.48
Primary Section Primary Section
Classrooms 43.12 47.00 20.00 940.02 Classrooms 43.12 47.00 36.00 1692.03
Science Lab 60.10 65.51 2.00 131.02 Science Lab 60.10 65.51 3.00 196.53
Computer and languages lab 60.10 65.51 2.00 131.02 Computer and languages lab 60.10 65.51 3.00 196.53
Art Education Room 41.90 45.67 1.00 45.67 Art Education Room 41.90 45.67 1.00 45.67
Sewing room 41.90 45.67 1.00 45.67
home economics rooms 60.10 65.51 2.00 131.02
Learning Resources Center 89.45 97.50 1.00 97.50 Learning Resources Center 89.45 97.50 1.00 97.50
A multi-use room 42.50 46.33 1.00 46.33 A multi-use room 42.50 46.33 1.00 46.33
Totals 27.00 1391.55 Total 48.00 2451.27
Intermediate Section Intermediate Section
Classrooms 43.12 47.00 10.00 470.01 Classrooms 43.12 47.00 10.00 470.01
Science Lab 62.96 68.63 1.00 68.63 Science Lab 62.96 68.63 1.00 68.63
Computer and languages lab 62.96 68.63 2.00 137.25 Computer and languages lab 62.96 68.63 2.00 137.25
Art Education Room 44.70 48.72 1.00 48.72 Art Education Room 44.70 48.72 1.00 48.72
Sewing room 44.70 48.72 1.00 48.72
home economics rooms 62.96 68.63 1.00 68.63
Learning Resources Center 88.11 96.04 1.00 96.04 Learning Resources Center 88.11 96.04 1.00 96.04
A multi-use room 45.90 50.03 1.00 50.03 A multi-use room 45.90 50.03 1.00 50.03
Totals 16.00 870.68 Totals 18.00 988.03
Secondary Section Secondary Section
Classrooms 43.12 47.00 20.00 940.02 Classrooms 43.12 47.00 30.00 1410.02
Physics lab 69.93 76.22 2.00 152.45 Physics lab 69.93 76.22 3.00 228.67
chemistry lab 69.93 76.22 2.00 152.45 chemistry lab 69.93 76.22 3.00 228.67
Biology lab 69.93 76.22 2.00 152.45 Biology lab 69.93 76.22 3.00 228.67
Computer and languages lab 69.93 76.22 2.00 152.45 Computer and languages lab 69.93 76.22 3.00 228.67
Art Education Room 49.20 53.63 1.00 53.63 Art Education Room 49.20 53.63 1.00 53.63
Sewing room 49.20 53.63 1.00 53.63
home economics rooms 69.90 76.19 1.00 76.19
Learning Resources Center 94.67 103.19 1.00 103.19 Learning Resources Center 94.67 103.19 1.00 103.19
A multi-use room 51.00 55.59 1.00 55.59 A multi-use room 51.00 55.59 1.00 55.59
Totals 31.00 1762.21 Totals 47.00 2666.94
outdoor space outdoor space
Outdoor playground with canopy 400 436.00 3.00 1308.00 Outdoor playground with canopy 400 436.00 3.00 1308.00
Payground (nursery) 35 38.15 2.00 76.30
Payground(Kindergarten) 60 65.40 2.00 130.80
outdoor/ Kindergarten Classroom 30.00 32.70 8.00 261.60
Total 3.00 1308.00 Total 15.00 1776.70
 extra space 6227.00 extra space 6773.25
senior management senior management
Senior management room + toilet + cafeteria 30.00 3.00 90.00
Total 3.00 90.00 Total 0.00 0.00
School administration and services School administration and services
Monitoring manager room + toilet 16.00 3.00 48.00 Monitoring manager room + toilet 24.00 3.00 72.00
nusery Adminstration room 75.00 81.75 1.00 81.75
Kindergarten Adminstration room 75.00 81.75 2.00 163.50
Assistant Principal room 13.00 3.00 39.00 Assistant Principal room 13.00 3.00 39.00
Secretary Office 13.00 3.00 39.00 Secretary Office 13.00 3.00 39.00
administrative offices. 13.00 6.00 78.00 administrative offices. 13.00 9.00 117.00
Academic Supervision Office 13.00 3.00 39.00 Academic Supervision Office 13.00 6.00 78.00
students mentors office 16.00 3.00 48.00 students mentors office 13.00 3.00 39.00
Teachers Office 50.00 6.00 300.00 Teachers Office 50.00 10.00 500.00
Copy room (Servers) 13.00 3.00 39.00 Copy room (Servers) 13.00 3.00 39.00
Admistration Cafeteria + toilet 8.00 1.00 8.00 Admistration Cafeteria + toilet 8.00 1.00 8.00
Teachers Cafeteria + toilet 16.00 2.00 32.00 Teachers Cafeteria + toilet 12.00 3.00 36.00
Meeting Room 60.00 1.00 60.00 Meeting Room 60.00 1.00 60.00
lesson plan room 12 1.00 12.00 lesson plan room 12 1.00 12.00
clinic room 12 1.00 12.00 clinic room 12 1.00 12.00
mosque 250 2.00 500.00 mosque 100 2.00 200.00
training room 50 1.00 50.00 training room 50 1.00 50.00
physical education room 30.00 3.00 90.00 physical education room 30.00 1.00 30.00
cafeteria 50.00 3.00 150.00 cafeteria 50.00 3.00 150.00
Workers room + toilet 16.00 6.00 96.00 Workers room + toilet 16.00 6.00 96.00
sub-warehouses 30.00 2.00 60.00 sub-warehouses 30.00 2.00 60.00
Department Entrance Infantry Entrance 9.00 1.00 9.00 Department Entrance Infantry Entrance 9.00 1.00 9.00
student entrance 25.00 3.00 75.00 student entrance 25.00 3.00 75.00
Elevator 5.00 3.00 15.00 Elevator 5.00 3.00 15.00
lanes ( student lounge). 320.00 3.00 960.00 lanes ( student lounge). 320.00 3.00 960.00
A multi-purpose closed hall covered A multi-purpose closed hall
900.00 1.00 900.00 900.00 1.00 900.00
with rubber covered with rubber
Total 64.00 3659.00 Total 76.00 3841.25
outdoor service outdoor service
housekeeper+toilet 16.00 3.00 48.00 housekeeper+toilet 16.00 3.00 48.00
maintenance workshop 30 1.00 30.00
Main Warehous 100 1.00 100.00 Main Warehous 100 1.00 100.00
total 5.00 178.00 Total 4.00 148.00
additional additional
school theater 700.00 1.00 700.00 school theater 0.00 0.00 0.00
swimming pool 8*17 m 300 1.00 300.00 swimming pool 300 1.00 300.00
total 1000.00 total 300.00
Parkings parkings
outdoor parkings 1620.00 1.00 1620.00 outdoor parkings 1584.00 1.00 1584.00
Basement Parking 680.00 1.00 680.00 Basement Parking 1200.00 1.00 1200.00
Total 2300.00 Total 2784.00

:Notes
Execution does not include fixed or movable furniture ‫* ا‬
* External parking outside the building space
 3204.00 3204.00
1880.00
Total number of spaces 146.00 Total number of spaces 213.00

Boys section Girls Section

Square metre Square metre
Item Areas Percentage Total Value Item areas Percentage
Price Price
Total Tatweer Buildings Company Requirements 5481.94 7,724,708.00 Total Tatweer Buildings Company Requirements 8823.05
common 149.50 1% 1600 239,198.40 common 207.64 1% 1600
nursery 327.00 2% 1600
Kindergarten 405.48 3% 1600
Primary Section 1391.55 11% 1600 2,226,477.60 Primary Section 2451.27 15% 1600
Intermediate Section 870.68 7% 1600 1,393,089.76 Intermediate Section 988.03 6% 1600
Secondary Section 1762.21 14% 1600 2,819,542.24 Secondary Section 2666.94 17% 1600
outdoor spaces 1308.00 10% 800 1,046,400.00 outdoor spaces 1776.70 11% 800
Total additional areas 7227.00 9,296,300.00 Total additional areas 7073.25
senior management 90.00 1% 1650 148,500.00 senior management 0.00 0% 1750
School administration and services 3659.00 29% 1600 5,854,400.00 School administration and services 3841.25 24% 1600
outdoor service 178.00 1% 800 142,400.00 outdoor service 148.00 1% 800
School theater 700.00 6% 1500 1,050,000.00 School theater 0.00 0% 1500
swimming poo 300.00 2% 1800 540,000.00 swimming pool 300.00 2% 1800
External Parking 1620.00 13% 250 405,000.00 outside Parking 1584.00 10% 250
Basement Parkings 680.00 5% 1700 1,156,000.00 Basement parking 1200.00 8% 1700
Total 12708.94 100% 17,021,008.00 Total 15896.30 100%

Govermental Fees The cost of the project for the 2 Blocks

Municipal fees 300,000.00 Total Execution value
Electricity Service Connection 807,690.00 Design Consultancy
water Service Connection 100,000.00 Govermental Fees
Total 1,207,690.00 Supervision Consultancy
Elevator
Supervision Consultancy Air conditioning
Item Item Quantity salary Total
Resident civil engineer/architect month 18 20,000 360,000.00 Development Department (1.8% ofExecution value)
Resident civil supervisor/architect month 18 14,000 252,000.00 Reserve (1.5% of the execution value)
Electrical engineer (half-time) month 18 7,000 126,000.00 The total value of the project
Mechanical engineer (half-time) month 18 7,000 126,000.00 Total Areas
Total 864,000.00 The Total value of the square meter

Boys Section Girls Section

Classrooms Students
Stage Classrooms No Students Numbers Lab. land area required Stage Lab.
No Numbers
Kindergarten 0.00 0 4.4 0 Kindergarten 8.00 200 4.4
primary 20.00 500 4 2000 primary 36.00 900 4
Intermediate 10.00 250 4.4 1100 Intermediate 10.00 250 4.4
Secondary 20.00 500 4.9 2450 Secondary 30.00 750 4.9
Total 50 1250 5550 Total 84 2100
Area of land No. 152 5854.20 Area of land No. 191
outdoor space areas outdoor space
outdoor space 1308.00 outdoor space
external service 178.00 external service
Parkings 1620.00 Parkings
Sidewalk (width 1.2 m) 384 Sidewalk (width 1.2 m)
Total 3490 Total
Remaining land area 2364 Remaining land area
number of floors 3.77 number of floors
 Total Value

12,695,523.20
332,220.00
523,200.00
648,768.00
3,922,029.28
1,580,848.80
4,267,097.12
1,421,360.00
9,240,400.00
-
6,146,000.00
118,400.00
-
540,000.00
396,000.00
2,040,000.00
21,935,923.20

38,956,931.20
300,000.00
1,207,690.00
864,000.00
400,000.00
818,000.00

701,224.76
584,353.97
43,832,199.93
28,605.24
1,532.31

land area required

880
3600
1100
3675
9255
6188.63
areas
1776.70
148.00
1584.00
375.6
3884
2304
4.86