LEBANON | GREECE | CYPRUS

Who We Are….
 CREATING ENDLESS POSSIBILITIES

We are VALENCI GROUP established in 2008, a private holding company based in Beirut and
Athens. We specialize across different business sectors by owning multiple units that work
together under one roof, delivering top-notch assistance and value to our network of
investors, entrepreneurs, financial institutions, and advertising agencies.

We are committed to providing our customers with the tools they need to adapt perfectly to
changing circumstances and discover new opportunities.

OUR SERVICES

TECHNOLOGY REAL ESTATE MEDIA DIGITAL PRINTING BROKERAGE

REAL ESTATE DEVELOPERS

VALENCI is a real estate development company founded in 2013. We are a

leading Real Estate and Development company, specializing in building
projects, renovations, sales, and acquisitions of prestigious apartments,
residential projects, and holiday homes extending to Greece and Lebanon.

Our projects in Greece are currently located in the heart of historical Athens
and the Athenian Riviera. We aim to create a modern and luxurious way of
living in the oldest European capital.

Moreover, VALENCI provides a range of tailored services beyond the purchase

of a primary or secondary residence, including consultancy services in the
acquisition of the Golden Visa.

Live in Luxury!

Visit our website: www.valenci.com

Milioni 8, 2nd Floor

Kolonaki – 106 73 Athens

+30 210 722 8280

info@valenci.com
OUTDOOR MEDIA

VIVAD is an outdoor advertising company operating in the Lebanese territories

for the past 10 years. We have a track record of bridging the gap between
companies, advertisers, and consumers.

The brand name VIVAD is conceived to reflect our mission: delivering

VIVid ADvertisments to make sure your message gets noticed. Our high-
quality, professional billboards and high-resolution LED screens allow the
display of your ad in bright colors and results in an eye-popping image. The
vibrant and vitalizing advertisements displayed on our billboards produce
intense memories that make people think about the ad long after they have
seen it. Our products are built according to the highest standards.

Our billboards and LEDs span the Lebanese territories to ensure maximum
coverage and exposure. By being strategically placed, our billboards and LEDs
guarantee high visibility and maximum ROI.

Whether you are looking to brand your product, introduce your services to the
public, or raise awareness, displaying your advertisement on our billboards
and LEDs is the optimal way to convey a high-impact message.
Just visit our website: www.vivad.com

The Bridge BBC Center, 5th Floor

Saloumi Highway, Beirut –Lebanon

+961 1 49 24 88
ooh@vivad.com
REAL ESTATE BROKERAGE & PROPERTY MANAGEMENT

We cater to high net-worth investors and individuals in search of only the

best. We offer our clientele a range of superb properties in Athens, the
Athenian Riviera and across Greece, as well as international real estate
investment advice, renovation services, property management and luxury
concierge services.

We are strongly committed to providing a range of tailored services beyond

the purchase of a primary or secondary home, including consultancy services
from legal arrangements, and the acquisition of the Golden Visa.

We offer our guests exclusive properties suitable for long and short-term
rentals in the most demanded locations in Greece. From comfortable family
homes, to a modern villa on the beach, or penthouse apartments in central
tourist location.

Our team of experts on hand to provide personalised assistance in all aspects

of your personal and business needs.

Visit our website: www.livhomes.gr

Milioni 8, 2nd Floor

Kolonaki – 106 73 Athens

+30 210 722 8280

hello@livhomes.gr
Q – COMMERCE

Rabbit is a on-demand grocery delivery company in Greece with the promise

of delivering groceries within 10 minutes of ordering by using dark stores.
Customers have the ability to order their grocery needs in no time, and
receive their orders swiftly, delivering around the center of Athens and in
Marousi.

Rabbit offers a unique variety of products at retail prices and uses high-end
technology to deliver the best grocery experience, right to your door!

• Assortment with 2000 SKU of top-selling Brands.

• Focusing on high quality.
• Precise inventory management
• 10-15 min Delivery!
• Full time drivers with experience.

Rabbit’s mission is to give time back to customers. By choosing our superfast

and user-friendly app, they have their daily shopping needs covered and win
free time to do all the things they love!

Check Rabbit’s website to learn more: www.rabbitapp.co

Milioni 8, 2nd Floor

Kolonaki – 106 73 Athens

hello@rabbitapp.co
DIGITAL PRINTING SERVICES
NEXUS has more than 10 years of experience in wide formats of digital print
for Outdoor advertising with better quality and durability.

We have the largest product share in the outdoor category is for:

• Billboards
• Mega boards
• Unipoles
• Backlits
• Window graphics
• Banners
• Signs
• Outdoor Posters

Whether it’s banners, indoor or outdoor signs, vehicle graphics, trade show
displays, or any other kind of sign or display you can think of , we can provide
it for you!

“Print with us!”

Jouret El Ballout Akl Building

1st floor Mount Lebanon

+961 4 807 923

ramzi.yamout@nexusprintings.com
Greece Group
Structure
Structure

Dany Kharrat

100%
Valenci Group
LTD (Cyprus)

35% 20% 100% 100% 50% 50%

31.8% 29.2%
GV1 Ltd Luxe Valenci Real Liv Properties Greece Liv Homes
GV2 (Cyprus) Pireos 57 Mike
(Cyprus) Properties SA Estate Mike SA Venture 3 SA Ltd

100%
100% 100%
Greece
Zoia 20 SA Liv Homes SA
Venture 2 SA
Ownership
1- Valenci Group Ltd is fully owned by Mr. Dany Al Kharrat
2- Pireos 57 is owned by:
Mr. Soheil Sabaii 33.8%
Valenci Group Ltd 29.2%
Mr. Jacques Abou Merhi 20%
Mr. Joseph El Bahou 17%
3- Valenci Real Estate Mike is fully owned by Valenci Group Ltd Cyprus
4- Liv Properties SA is fully owned by Valenci Group Ltd Cyprus
5- Luxe Properties SA is owned by:
Valenci Group Ltd 20%
Investors 80%
6- Greece Venture 3 SA is owned by:
Valenci Group Ltd 50%
Inpietra Ltd 50%
7- GV2 Ltd is owned by:
Valenci Group Ltd 31.8%
Mr. Tony Nasr 15.9%
Mr. Pierre Nasr 15.9%
Mr. Ziad Tohme 22.7%
Mr. George El Hajj 13.7%
8- GV 2 Ltd Cyprus owns 100% of Greece Venture 2 SA
9- Liv Homes Ltd is owned by:
Valenci Group Ltd 50%
Mr. Georges Azar 20%
Mr. Adel Nassrallah 10%
Mr. Mr. Joseph El Bahou 20%
10- Live Homes Ltd Cyprus owns 100% of Liv Homes SA
11- GV1 Ltd owns 100% Zoia 20 SA
12- Valenci Group Ltd owns 35% from GV1 Ltd and the rest from several investors
Projects Overview
Projects Overview

1- Valenci Real Estate Mike is developing the following residential buildings:

- Korinis 11 in Psyri
- Defner 4 in Mets
- Ironda 6 and 6A in Kallimarmaro – Pagrati
2- Liv Properties SA is developing the following residential buildings:
- Ivikou 6 in Kallimarmaro – Pagrati
- Iridos 7 in Varnava – Pagrati
3- Luxe properties SA is developing two residential buildings:
- Glyfada on plot Lazaraki 61 in cooperation with the landlord
- Voula on plot Dimoktratias 55.
4- Greece Venture 3 SA is developing a residential building:
- Appianou 1 in Pagrati
5- Greece Venture 2 SA buys, refurbishes, and sells apartments
6- Pireos 57 Mike renovation of a furnished apartment building
7- Liv Homes SA is a property management & brokerage company
8- Zoia 20 SA owns a building in a prime location in Kolonaki for a rental
furnished apartments project in collaboration of Radisson Hotel
Projects Executive Summary
Legal Entity Project Name Actual Forecast Total
PLATEIA MESSOLOGIOU € 250,000 € - € 250,000
Palignesias 31 € 25,000 € - € 25,000
Aristoxenou € 85,000 € - € 85,000
Valenci Real Estate Mike
Korinis 11 € 2,578,500 € 1,961,911 € 4,540,411
Defner 4 € 915,000 € 1,704,725 € 2,619,725
Ironda 6 & 6A € 907,000 € 3,831,896 € 4,738,896
Ivikou 6 € - € 1,892,536 € 1,892,536
Liv properties SA
Iridos 7 € - € 4,090,471 € 4,090,471
Lazaraki 61 € - € 9,674,000 € 9,674,000
Luxe Properties SA
Demokratias 55 € - € 15,000,000 € 15,000,000
Greece Venture 3 SA Apaniou 1 € - € 2,474,000 € 2,474,000
Zoia 20 SA Voukourestiou 23 - 10 years rent € - € 11,100,000 € 11,100,000
Astidamantos 15 € 282,929 € - € 282,929
Pratinou 61 (Pagrati) € 177,000 € - € 177,000
Drakontos 1 € 250,000 € - € 250,000
Genneou Kolokotroni (koukaki) € - € 127,500 € 127,500
Greece Venture 2 SA
Agias Sofias 44 (nea smyrni) € - € 210,000 € 210,000
Dimarchou Aggelou metaxa 4 (glyfada) € - € 350,000 € 350,000
Skamvonidon 16 (ano petralona) € 242,408 € - € 242,408
Zinodottou € - € 235,000 € 235,000
Total € 5,712,837 € 52,652,039 € 58,364,876
Valenci Real Estate
Executive Summary
 Financing Needed Valenci Real Estate
▪ Valenci Real Estate:
Shareholders contribution: 1.5M paid in full
Korinis 11 project:
Land cost: 936k paid in full
Construction cost: 1.3M
Committed Presales: 2.5M contract in hand
Available Rental Stock (2 penthouses): 1.7M
Available Stock for Sales: 690k
Financing needed: 0
Delivery June 2023
Defner 4 project:
Land cost: 305k paid in full
Construction cost: 1.2M
Committed Presales: 915k contract in hand
Available Stock: 1.7M
Financing needed: 1M
Permit will be ready in 2 weeks
Ironda 6/6A project:
Land cost: 1M paid in full
Construction cost: 2.6M
Committed Presales: 907k contract in hand
Available Stock: 3.9M
Financing needed: 1M
Permit will be ready in 4 weeks
Valenci Real Estate Profit & Loss
Amounts in Euro Jan-23 YEARLY

PROFIT & LOSS Actual Forecast TOTAL Prior Years 2022 2023 2024

A. SALES 4,760,500 7,498,532 12,259,032 110,000 4,430,500 4,211,610 3,506,922

Ioronos - - - - - - -
PLATEIA MESSOLOGIOU 250,000 - 250,000 - 250,000 - -
Palignesias 31 25,000 - 25,000 25,000 - - -
Aristoxenou 85,000 - 85,000 85,000 - - -
Korinis 11 2,578,500 1,961,911 4,540,411 - 2,578,500 672,721 1,289,190
Defner 4 915,000 1,704,725 2,619,725 - 915,000 1,340,861 363,865
Ironda 6 & 6A 907,000 3,831,896 4,738,896 - 687,000 2,198,028 1,853,868

B. COST OF SALES (2,792,720) (4,906,348) (7,699,068) (116,970) (2,524,425) (2,785,217) (2,272,456)

C. GROSS PROFIT 1,967,780 2,592,184 4,559,965 (6,970) 1,906,075 1,426,393 1,234,467

D. OPERATING EXPENSES (798,948) (1,213,877) (2,012,824) (160,627) (655,903) (617,429) (578,865)

Construction Management (147,524) (288,237) (435,761) (40,530) (106,994) (180,312) (107,925)
General & Administrative Expenses (429,974) (334,385) (764,359) (81,199) (373,006) (135,692) (174,462)
Staff Cost & Related Benefits (166,482) (564,694) (731,176) (14,895) (146,003) (286,583) (283,695)
Taxes & Related Fees (54,968) (26,560) (81,528) (24,003) (29,900) (14,842) (12,784)

E. EBITDA 1,168,833 1,378,308 2,547,140 (167,597) 1,250,172 808,963 655,602

Depreciation, Amortization & Provisions - - - - - - -

F. EBIT 1,168,833 1,378,308 2,547,140 (167,597) 1,250,172 808,963 655,602

Finance Revenues (Expenses) (2,617) - (2,617) (369) (2,187) (61) -

G. EBT 1,166,215 1,378,308 2,544,523 (167,966) 1,247,984 808,902 655,602

Corporate Income Tax (2,026) (596,748) (598,774) (2,026) (274,557) (177,959) (144,232)
Corporate Tax (2,026) (596,748) (598,774) (2,026) (274,557) (177,959) (144,232)

NET INCOME 1,164,189 781,560 1,945,749 (169,992) 973,428 630,944 511,369

Valenci Real Estate Cash Flow
Amounts in Euro Jan-23 YEARLY

CASH FLOW Actual Forecast TOTAL Prior Years 2022 2023 2024

OPERATING CASH FLOW (817,424) 2,763,173 1,945,749 (1,590,625) 375,557 883,144 2,277,673
Land Cost Payment (2,245,464) - (2,245,464) (1,427,447) (815,417) (2,600) -
Korinis 11 (935,919) - (935,919) (874,463) (58,856) (2,600) -
Defner 4 (305,540) - (305,540) (305,540) - - -
Ironda 6 & 6A (1,004,005) - (1,004,005) (247,444) (756,561) - -
Collection from Customers 3,042,434 9,405,202 12,447,636 124,000 2,501,440 5,177,902 4,644,294
Apartments 360,000 - 360,000 110,000 250,000 - -
Korinis 11 2,581,434 1,999,466 4,580,900 - 2,164,440 1,100,960 1,315,500
Defner 4 20,000 2,652,781 2,672,781 - 20,000 1,813,708 839,073
Ironda 6 & 6A 81,000 4,752,955 4,833,955 14,000 67,000 2,263,234 2,489,721
Construction Cost Payments (810,302) (4,643,302) (5,453,604) (124,156) (651,876) (3,126,935) (1,550,638)
Apartments (326,351) - (326,351) (116,970) (220,589) 11,208 -
Korinis 11 (344,767) (962,221) (1,306,988) - (299,289) (1,007,699) -
Defner 4 (24,442) (1,228,580) (1,253,022) (7,186) (17,256) (963,746) (264,835)
Ironda 6 & 6A (114,742) (2,452,500) (2,567,243) - (114,742) (1,166,697) (1,285,803)
Commission on Sales (500) (188,104) (188,604) - (500) (95,218) (92,886)
Operating Expenses (798,948) (1,213,877) (2,012,824) (160,627) (655,903) (617,429) (578,865)
Finance Expenses (2,617) - (2,617) (369) (2,187) (61) -
Corporate Tax (2,026) (596,748) (598,774) (2,026) - (452,515) (144,232)

INVESTING CASH FLOW - - - - - - -

FREE CASH FLOW (817,424) 2,763,173 1,945,749 (1,590,625) 375,557 883,144 2,277,673

FINANCING CASH FLOW 1,513,196 - 1,513,196 1,598,596 (85,900) 500 -

NET CASH FLOW 695,772 2,763,173 3,458,945 7,971 289,657 883,644 2,277,673

BEGINNING CASH & BANK BALANCE - 695,772 - - 7,971 297,628 1,181,272

ENDING CASH & BANK BALANCE 695,772 3,458,945 3,458,945 7,971 297,628 1,181,272 3,458,945
Liv Properties SA
Executive Summary
 Financing Needed Liv Properties SA

• Liv properties SA:

Shareholders contribution: 992k paid in full
Profit on apartments purchased and sold: Sold at 1.2M; Cost 1M; Profit 200k
Ivikou 6 project:
Land cost: 600k paid in full
Construction cost: 738k
Committed Presales: 265k contract in hand
Available Stock for Sales: 1.6M
Financing needed: 600K
Permit will be ready in 4 Months
Iridos 7 project:
Land cost: 540k 30k paid, the remaining will be paid in March 2023
Construction cost: 1.7M
Committed Presales: 0 contract in hand
Available Stock for Sales: 3.2M
Financing needed: 600K
Permit will be ready in 4 Months
Liv Properties SA Profit & Loss
Amounts in Euro Jan-23 YEARLY

PROFIT & LOSS Actual Forecast TOTAL Prior Years 2022 2023 2024 2025

A. SALES 850,000 5,978,007 6,828,007 425,000 425,000 2,921,613 1,807,501 1,248,892

APARTMENTS 585,000 260,000 845,000 425,000 160,000 260,000 - -
IVIKOU 6 265,000 1,627,536 1,892,536 - 265,000 1,138,878 488,659 -
IRIDOS 7 - 4,090,471 4,090,471 - - 1,522,736 1,318,843 1,248,892

B. COST OF SALES (663,262) (3,615,646) (4,278,907) (320,919) (342,342) (1,818,030) (1,101,915) (695,701)

C. GROSS PROFIT 186,738 2,362,362 2,549,100 104,081 82,658 1,103,583 705,587 553,192

D. OPERATING EXPENSES (123,785) (198,048) (321,833) (123,785) - (48,294) (149,754) -

Construction Management (12,260) (198,048) (210,308) (12,260) - (48,294) (149,754) -
General & Administrative Expenses (111,525) - (111,525) (111,525) - - - -
Staff Cost & Related Benefits - - - - - - - -
Taxes & Related Fees - - - - - - - -

E. EBITDA 62,953 2,164,314 2,227,267 (19,704) 82,658 1,055,289 555,832 553,192

Depreciation, Amortization & Provisions - - - - - - - -

F. EBIT 62,953 2,164,314 2,227,267 (19,704) 82,658 1,055,289 555,832 553,192

Finance Revenues (Expenses) - - - - - - - -

G. EBT 62,953 2,164,314 2,227,267 (19,704) 82,658 1,055,289 555,832 553,192

Corporate Income Tax - (494,334) (494,334) - (18,185) (232,164) (122,283) (121,702)

NET INCOME 62,953 1,669,980 1,732,933 (19,704) 64,473 823,126 433,549 431,490
Liv Properties SA Cash Flow
Amounts in Euro Jan-23 YEARLY

CASH FLOW Actual Forecast TOTAL Prior Years 2022 2023 2024 2025

OPERATING CASH FLOW (767,192) 2,500,126 1,732,933 (598,207) (168,985) (205,459) 1,578,394 1,127,190
Land Cost Payment (1,293,407) (509,900) (1,803,307) (511,922) (781,485) (509,900) - -
APARTMENTS (671,845) - (671,845) (511,922) (159,923) - - -
IVIKOU 6 (590,848) - (590,848) - (590,848) - - -
IRIDOS 7 (30,714) (509,900) (540,614) - (30,714) (509,900) - -
Collection from Customers 650,000 6,298,783 6,948,783 37,500 612,500 1,226,077 3,798,326 1,274,380
APARTMENTS 585,000 260,000 845,000 37,500 547,500 260,000 - -
IVIKOU 6 65,000 1,864,833 1,929,833 - 65,000 429,363 1,435,470 -
IRIDOS 7 - 4,173,950 4,173,950 - - 536,715 2,362,856 1,274,380
Construction Cost Payments - (2,475,600) (2,475,600) - - (603,672) (1,871,928) -
APARTMENTS - - - - - - - -
IVIKOU 6 - (737,600) (737,600) - - (334,306) (403,294) -
IRIDOS 7 - (1,738,000) (1,738,000) - - (269,366) (1,468,634) -
Commission on Sales - (120,776) (120,776) - - (19,322) (75,967) (25,488)
Operating Expenses (123,785) (198,048) (321,833) (123,785) - (48,294) (149,754) -
Finance Expenses - - - - - - - -
Corporate Tax - (494,334) (494,334) - - (250,348) (122,283) (121,702)

INVESTING CASH FLOW - - - - - - - -

FREE CASH FLOW (767,192) 2,500,126 1,732,933 (598,207) (168,985) (205,459) 1,578,394 1,127,190

FINANCING CASH FLOW 992,706 - 992,706 992,706 - - - -

NET CASH FLOW 225,514 2,500,126 2,725,639 394,499 (168,985) (205,459) 1,578,394 1,127,190

BEGINNING CASH & BANK BALANCE - 225,514 - - 394,499 225,514 20,055 1,598,449

ENDING CASH & BANK BALANCE 225,514 2,725,639 2,725,639 394,499 225,514 20,055 1,598,449 2,725,639
Luxe Properties SA
Executive Summary
 Financing Needed Luxe Properties SA

• Attached PDF presentation

Luxe Properties SA
Shareholders contribution: 4,890,000
Lazaraki 61 project - Glyfada:
Land cost: Partnership with the Landlord
Construction cost: 6.9M
Committed Presales: 0
Available Stock for Sales: 9.6M

Demokratias 55 project – Voula:

Land cost: 4M
Construction cost: 6.9M
Committed Presales: 0
Available Stock for Sales: 15M

Financing needed for both projects:1.5M Bank Guarantee and 5.2M Land & Construction Cost
Luxe Properties SA Profit & Loss
Amounts in Euro

PROFIT & LOSS TOTAL Prior Year 2022 2023 2024 2025 2026

A. SALES 23,195,910 - - 2,009,250 9,033,400 8,047,340 4,105,920

Gross Sales 24,676,500 - - 2,137,500 9,610,000 8,561,000 4,368,000
Management, Sales & Marketing (1,480,590) - - (128,250) (576,600) (513,660) (262,080)
Net Sales 23,195,910 - - 2,009,250 9,033,400 8,047,340 4,105,920

B. COST OF SALES (15,227,861) - - (1,400,911) (6,027,174) (5,071,558) (2,728,218)

C. GROSS PROFIT 7,968,049 - - 608,339 3,006,226 2,975,782 1,377,702

D. OPERATING EXPENSES (911,372) (6,330) (29,599) (114,668) (760,775) - -

Construction Management (895,029) - (20,000) (114,254) (760,775) - -
General & Administrative Expenses (14,574) (6,330) (7,934) (309) - - -
Staff Cost & Related Benefits - - - - - - -
Taxes & Related Fees (1,769) - (1,665) (104) - - -

E. EBITDA 7,056,677 (6,330) (29,599) 493,671 2,245,451 2,975,782 1,377,702

Depreciation, Amortization & Provisions - - - - - - -

F. EBIT 7,056,677 (6,330) (29,599) 493,671 2,245,451 2,975,782 1,377,702

Finance Revenues (Expenses) (526,921) (86) (150) (21,551) (256,620) (188,076) (60,439)

G. EBT 6,529,755 (6,417) (29,749) 472,120 1,988,831 2,787,707 1,317,263

Corporate Income Tax (1,045,788) - - (70,779) (318,213) (446,033) (210,762)

NET INCOME 5,483,968 (6,417) (29,749) 401,341 1,670,618 2,341,674 1,106,501

Luxe Properties SA Cash Flow

CASH FLOW TOTAL Prior Year 2022 2023 2024 2025 2026

OPERATING CASH FLOW 5,483,968 (6,417) (89,749) (5,732,802) 4,986 7,413,231 3,894,719
Land Cost Payment (4,040,000) - (60,000) (4,040,000) - - 60,000
Collection from Customers 24,676,500 - - 320,625 11,426,875 8,561,000 4,368,000
Construction Cost Payments (11,187,861) - - (1,678,179) (9,509,682) - -
Commission on Sales (1,480,590) - - (128,250) (576,600) (513,660) (262,080)
Operating Expenses (911,372) (6,330) (29,599) (114,668) (760,775) - -
Finance Expenses (526,921) (86) (150) (21,551) (256,620) (188,076) (60,439)
Corporate Tax (1,045,788) - - (70,779) (318,213) (446,033) (210,762)
INVESTING CASH FLOW - - - - - - -

FREE CASH FLOW 5,483,968 (6,417) (89,749) (5,732,802) 4,986 7,413,231 3,894,719

FINANCING CASH FLOW 4,890,000 25,000 75,000 9,949,325 (430,439) (2,579,662) (2,149,224)
Bank Debts - - - 5,159,325 (430,439) (2,579,662) (2,149,224)
Shareholders Loans 4,852,500 25,000 37,500 4,790,000 - - -
Realted Parties 37,500 - 37,500 - - - -
NET CASH FLOW 10,373,968 18,583 (14,749) 4,216,523 (425,453) 4,833,569 1,745,495

BEGINNING CASH BALANCE 18,583 3,834 4,220,357 3,794,904 8,628,473

ENDING CASH BALANCE 10,373,968 18,583 3,834 4,220,357 3,794,904 8,628,473 10,373,968
Greece Venture 3 SA
Executive Summary
 Financing Needed Greece Venture 3 SA

• Greece Venture 3 SA:

Shareholders contribution: 350k paid in full
Appaniou 1 project:
Land cost: 308k paid in full
Construction cost: 1.2M
Committed Presales: 0
Available Stock for Sales: 2.4M
Financing needed: 1M
Permit will be ready in 4 Months
Greece Venture 3 SA Profit & Loss
Amounts in Euro YEARLY

PROFIT & LOSS TOTAL 2022 2023 2024

A. SALES 2,474,992 - 760,836 1,714,156

B. COST OF SALES (1,496,819) - (460,136) (1,036,682)

C. GROSS PROFIT 978,173 - 300,700 677,474

D. OPERATING EXPENSES (102,340) (10,578) (77,625) (14,138)

Construction Management (99,977) (8,401) (77,439) (14,138)
General & Administrative Expenses (2,363) (2,177) (186) -
Staff Cost & Related Benefits - - - -
Taxes & Related Fees - - - -

E. EBITDA 875,833 (10,578) 223,075 663,336

Depreciation, Amortization & Provisions - - - -

F. EBIT 875,833 (10,578) 223,075 663,336

Finance Revenues (Expenses) (56,288) (38) (35,938) (20,313)

G. EBT 819,545 (10,616) 187,138 643,023

Corporate Income Tax (182,676) - (41,211) (141,465)

NET INCOME 636,869 (10,616) 145,926 501,558

Greece Venture 3 SA Cash Flow

Amounts in Euro YEARLY

CASH FLOW TOTAL 2022 2023 2024

OPERATING CASH FLOW 636,869 (318,878) (245,931) 1,201,678

Land Cost Payment (308,263) (308,263) - -
Collection from Customers 2,632,970 - 283,290 2,349,680
Construction Cost Payments (1,188,556) - (325,884) (862,672)
Commission on Sales (157,978) - (48,564) (109,414)
Operating Expenses (102,340) (10,578) (77,625) (14,138)
Finance Expenses (56,288) (38) (35,938) (20,313)
Corporate Tax (182,676) - (41,211) (141,465)

INVESTING CASH FLOW - - - -

FREE CASH FLOW 636,869 (318,878) (245,931) 1,201,678

FINANCING CASH FLOW 350,000 350,000 687,500 (687,500)

Bank Debts - - 687,500 (687,500)
Shareholders Loans 187,500 187,500 - -
Realted Parties 162,500 162,500 - -

NET CASH FLOW 986,869 31,122 441,569 514,178

BEGINNING CASH & BANK BALANCE - - 31,122 472,691

ENDING CASH & BANK BALANCE 986,869 31,122 472,691 986,869

Greece Venture 2 SA
Executive Summary
 Financing Needed Greece Venture 2 SA

• No need, we still have 2 apartments for sales, and we are done.

Greece Venture 2 SA Profit & Loss
Amounts in Euro Jan-23 YEARLY

PROFIT & LOSS Actual Forecast TOTAL 2022 2023

A. SALES 895,197 867,150 1,762,347 895,197 867,150

Astidamantos 15 282,929 - 282,929 282,929 -
Pratinou 61 (Pagrati) 177,000 - 177,000 177,000 -
Drakontos 1 250,000 - 250,000 250,000 -
Genneou Kolokotroni (koukaki) - 127,500 127,500 - 127,500
Agias Sofias 44 (nea smyrni) - 210,000 210,000 - 210,000
Dimarchou Aggelou metaxa 4 (glyfada) - 350,000 350,000 - 350,000
Skamvonidon 16 (ano petralona) 242,408 - 242,408 242,408 -
Zinodottou - 235,000 235,000 - 235,000
Total Sales 952,337 922,500 1,874,837 952,337 922,500
Sales Commission (57,140) (55,350) (112,490) (57,140) (55,350)
Net Sales 895,197 867,150 1,762,347 895,197 867,150

B. COST OF SALES (766,276) (785,206) (1,551,482) (766,276) (785,206)

Total Cost of Sales (766,276) (785,206) (1,551,482) (766,276) (785,206)

C. GROSS PROFIT 128,921 81,944 210,864 128,921 81,944

GP% 14.4% 9.4% 12.0% 14% 9%
D. OPERATING EXPENSES (22,208) - (22,208) (19,393) (1,316)
Construction Management - - -
General & Administrative Expenses (20,230) - (20,230) (17,415) (1,316)
Staff Cost & Related Benefits - - - - -
Taxes & Related Fees (1,978) - (1,978) (1,978) -

E. EBITDA 106,712 81,944 188,656 109,528 80,628

Depreciation, Amortization & Provisions - - - - -

F. EBIT 106,712 81,944 188,656 109,528 80,628

Finance Revenues (Expenses) (341) - (341) (252) (89)

G. EBT 106,372 81,944 188,315 109,276 80,539

Corporate Income Tax (24,130) (17,719) (41,849) (24,041) (17,719)

NET INCOME 82,241 64,225 146,466 85,235 62,820

Greece Venture 2 SA Cash Flow
Amounts in Euro Jan-23 YEARLY

CASH FLOW Actual Forecast TOTAL 2022 2023

OPERATING CASH FLOW (583,112) 729,578 146,466 (706,235) 852,701

Stock Available 655,683 - - 609,666 -
Cost of Apartments (1,421,959) (129,523) (1,551,482) (1,375,942) (175,541)
Collection from Customers 942,667 932,170 1,874,837 770,622 1,104,215
Commission on Sales (57,140) (55,350) (112,490) (57,140) (55,350)
Operating Expenses (22,208) - (22,208) (19,393) (2,816)
Finance Expenses (341) - (341) (252) (89)
Corporate Tax (24,130) (17,719) (41,849) (24,130) (17,719)
INVESTING CASH FLOW - - - - -
Capex - - - - -
FREE CASH FLOW (583,112) 729,578 146,466 (706,235) 852,701

FINANCING CASH FLOW 824,788 - 824,788 824,788 -

Bank Debts - - - - -
Related Parties - - - - -
Shareholders Loans 824,788 - 824,788 824,788 -
NET CASH FLOW 241,676 729,578 971,254 118,553 852,701

BEGINNING CASH & BANK BALANCE - 241,676 - 118,553

ENDING CASH & BANK BALANCE 241,676 971,254 971,254 118,553 971,254
Voukourestiou 23,
Kolonaki
- Rental Project
 Financing Needed Zoia 20 SA

• Attached PDF presentation

Zoia 20 SA:
Shareholders contribution: 3.3M paid in full
Voukourestiou 23 project - Kolonaki:
Company Purchase Cost owning the building: 5M to be paid 50% through Equity
Renovation Cost: 1.6M

Financing needed: 3.3M

Zoia 20 SA Profit & Loss
Amounts in Euro YEARLY

PROFIT & LOSS TOTAL 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033

A. RENT Area 11,177,658 - 975,033 1,004,284 1,034,412 1,065,445 1,097,408 1,130,330 1,164,240 1,199,167 1,235,142 1,272,197

B. COST OF SALES - - - - - - - - - - - -

C. GROSS PROFIT 11,177,658 - 975,033 1,004,284 1,034,412 1,065,445 1,097,408 1,130,330 1,164,240 1,199,167 1,235,142 1,272,197

D. OPERATING EXPENSES (4,113,681) - (375,809) (383,096) (390,602) (398,333) (406,296) (414,498) (422,946) (431,648) (440,610) (449,841)
Construction Management - - - - - - - - - - - -
General & Administrative Expenses (4,113,681) - (375,809) (383,096) (390,602) (398,333) (406,296) (414,498) (422,946) (431,648) (440,610) (449,841)
Platforms Commission (Booking.com, Expedia, AirBNB,…) 16% (1,605,003) - (140,005) (144,205) (148,532) (152,988) (157,577) (162,304) (167,174) (172,189) (177,354) (182,675)
Royalty Fee 1,250 (150,000) - (15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000) (15,000)
Third Party Management Fee 14% (1,158,677) - (100,804) (103,891) (107,071) (110,346) (113,719) (117,194) (120,773) (124,459) (128,256) (132,166)
Utilities & Maintenance 10,000 (1,200,000) - (120,000) (120,000) (120,000) (120,000) (120,000) (120,000) (120,000) (120,000) (120,000) (120,000)
Staff Cost & Related Benefits - - - - - - - - - - - -
Taxes & Related Fees - - - - - - - - - - - -

E. EBITDA 7,063,977 - 599,224 621,187 643,810 667,111 691,112 715,832 741,294 767,520 794,532 822,355
Depreciation, Amortization & Provisions (2,631,600) - (263,160) (263,160) (263,160) (263,160) (263,160) (263,160) (263,160) (263,160) (263,160) (263,160)

F. EBIT 4,432,377 - 336,064 358,027 380,650 403,951 427,952 452,672 478,134 504,360 531,372 559,195
Finance Revenues (Expenses) (1,111,461) (168,238) (166,677) (152,689) (137,985) (122,528) (106,281) (89,202) (71,250) (52,379) (32,542) (11,691)

G. EBT 3,320,917 (168,238) 169,386 205,339 242,665 281,423 321,671 363,470 406,884 451,981 498,830 547,504
Corporate Income Tax (730,602) - (253) (45,174) (53,386) (61,913) (70,768) (79,963) (89,515) (99,436) (109,743) (120,451)

NET INCOME 2,590,315 (168,238) 169,133 160,164 189,279 219,510 250,903 283,507 317,370 352,545 389,087 427,053
Zoia 20 SA Cash Flow
Amounts in Euro YEARLY

CASH FLOW TOTAL 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033

OPERATING CASH FLOW 5,221,915 (168,238) 432,293 423,324 452,439 482,670 514,063 546,667 580,530 615,705 652,247 690,213
Collection from Customers 11,177,658 - 975,033 1,004,284 1,034,412 1,065,445 1,097,408 1,130,330 1,164,240 1,199,167 1,235,142 1,272,197
Operating Expenses (4,113,681) - (375,809) (383,096) (390,602) (398,333) (406,296) (414,498) (422,946) (431,648) (440,610) (449,841)
Finance Expenses 5% (1,111,461) (168,238) (166,677) (152,689) (137,985) (122,528) (106,281) (89,202) (71,250) (52,379) (32,542) (11,691)
Corporate Tax 22% (730,602) - (253) (45,174) (53,386) (61,913) (70,768) (79,963) (89,515) (99,436) (109,743) (120,451)
INVESTING CASH FLOW (6,579,000) (6,579,000) - - - - - - - - - -

FREE CASH FLOW (1,357,085) (6,747,238) 432,293 423,324 452,439 482,670 514,063 546,667 580,530 615,705 652,247 690,213

FINANCING CASH FLOW 3,289,500 6,747,238 (273,419) (287,407) (302,111) (317,568) (333,815) (350,894) (368,847) (387,717) (407,554) (428,405)
Bank Debts (0) 3,457,738 (273,419) (287,407) (302,111) (317,568) (333,815) (350,894) (368,847) (387,717) (407,554) (428,405)
Shareholders Financing 3,289,500 3,289,500 - - - - - - - - - -

NET CASH FLOW 1,932,415 - 158,875 135,917 150,328 165,102 180,248 195,773 211,683 227,988 244,694 261,808

BEGINNING CASH BALANCE - 158,875 294,792 445,119 610,221 790,469 986,242 1,197,925 1,425,913 1,670,607

ENDING CASH BALANCE 1,932,415 - 158,875 294,792 445,119 610,221 790,469 986,242 1,197,925 1,425,913 1,670,607 1,932,415

Pre-Tax Yield (EBITDA / Investment) 9% 9% 10% 10% 11% 11% 11% 12% 12% 12%
BUILDING FUTURES

THANK YOU