Post on 03-Nov-2014
description
1DEVELOPMENT 2010
Carrefour Market
AL SALAM MALLKuwait
Project description
Jun 2011
Development Qatar Kuwait 2011
2DEVELOPMENT 2010Development Qatar Kuwait 2011
TABLE OF CONTENTS : Page
1. Project geographical location ……………..3- Country map
- City map - Google map - Competition update
2. Project general description ……………….9- Environment- Description of the premises
3. Project proposal ……………………….12- Landlord- Layout
- Proposed agreement (Size, Rent rules, Service charges)
4. Sales estimate …………………………….....205. Feasibility study ………………………….....23
- Summary KPIs and competition - Profit and loss - Balance sheet - Cash flow - Benchmarking - Sensitivity analysis
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Avenues
Express Jahra
Site location on Kuwait map
FINTAS
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Al Salam Mall Salmiya
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Al Salam Mall Salmiya
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Number of competitor Supermarkets in the Area
Competitor name Sales Area
1 AG MART 5,000 MSQ
Carrefour Market 1,800 MSQ
2 City center 10,000 MSQ
3 TSC to be demolished later 5,000 MSQ
4 Carrefour Market 2,500 MSQ
4 TSC opening 2013 9,000 MSQ
5 Geant Easy 3,000 MSQ
6 Gulf Mart 800 MSQ
7 Co-op 3,000 MSQ
Competition update
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To be demolished
To open in 2013
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Project rank : 1. This project will be 2nd approved Carrefour market in Kuwait.2. 1 Hyper and 1 Carrefour market are opened Kuwait and 1 Carrefour market secured will open in 2012.
Project location• Al Salam mall is located in the iconic Salem Al Mubarak street,
Description of the Mall: • Shopping Mall with 5 levels GF + Mezzanine + 1st ,2nd and 3rd floor; GLA 25,101 m2• Project construction period 18 months starting from July• 125 retail shops and restaurants and entertainment.• 800 multi level car parking to be finalized on the 15 th of JUNDescription of the Premises: • Carrefour is located at the basement level with 2 Travelators. • Travelators Escalators and elevators, between levels. • Two main entrances• Basement level 7969 MSQ• GLA for Carrefour Market: 3428 MSQ• Sales area: 2400 MSQ• Sublease: 2208 MSQ• Target Handover : Jun 2012• Target opening: Jan 2013
2) Project general description
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- Safat Al-Ghanem.- X-cite Al-Ghanem.- Electrozan.- Decathlon.- Bass Fashion.- Mango Fashion.- New Look Fashion Department.- Iconic Fashion Department.
Development Qatar Kuwait 2011
Tenants who placed letter of interest
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Al Salam Mall Salmiya
Development Qatar Kuwait 2011
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Land lord
SAMA real estate is the owner of this project
Dubai Gate real estate company under Shuwaikh gate holding is the Property management and the man contractor of AL SALAM MALL
General Manager Eng. Omar NigmOwner Sheikh Thamer AL Osaimy
All legal contracts will be under Dubai Gate real estate
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Ground level
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Entrance
Entrance
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Basement level Carrefour Express
Travelators
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Receiving area
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To be finalized Multilevel car Parking 800 cars
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Option -2-
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Proposed agreement (Size, Rent rules, Service charges)
For the first 5 years: 7KD per m2.
The rent increases by 13% instead of 10% for each 5 years.
Service charge included
Total GLA 7,969 MSQ
Down payment 2 years against Cheque guarantee.
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Proposal of SAMA in FEB 2010
Good Evening M. Fabrice In reference to our last meeting i would like to inform you about our final decision concerning the rental rates for salmiya: For the first 5 years: 7KD per m2.The rent increases by 13% instead of 10% for each 5 years. Hoping our proposal will meet your kind approval.Thanking you. PS: As for the internal layouts i will send them as soon as we receive them from the municipality. Best Regards, Charbel HAYEK Marketing & Sales Coordinator Real-estate Dept.Sama Holding MOB: (965) 99983528
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ONGOING PROJECTS :
STORE AL SALAM / 2400m2
CITY KUWAITGYMA CODE 3428 gla store
EMAIL CODE 2208 M2 of s.leaseGLA / M2 7,696
SALES AREA / M2 2,400 ASSORTMENT TYPE 103
FIT OUT WORK main contractor Total ( 11110.010 ) AED 9,500,000
SHELVING fricool ( 11210.000 ) AED 300,000
COLD SYSTEM linde or Costan ( 11210.000 ) AED 3,100,000
CARREFOUR EXPRESS SIGNAGES ( 11210.000 ) AED 160,000
SS Acc+Elect Mkt+Wood+Plastic+Furnitures ( 11220.104 ) AED 1,700,000
IT + office equipment ( 10110.000+11200.100+11300.100 ) AED 400,000
TOTAL ASSETS AED 5,660,000
TOTAL ASSETS M2 SALES AREA AED 2,358
TOTAL FIT-OUT M2 SALES AREA AED 3,958
TOTAL ASSETS + FIT-OUT AED 15,160,000TOTAL per Sqr/m Sla AED 6,317
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Investment estimation
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Sublease first initial proposal
Sublease Shops Analysis - First Draft
Shops Mix Unit GLANo of Shops Shop Dimensions
Total GLA Placement (in Layout)
(in sq. m) Front (sq.
m)Depth (sq.
m)(in sq.
m)
Very Small Shops (i.e. Quick Services) 10 11 3 3.3 108.9 In front of Cash Counters, main alleys
Small Shops (i.e. Optics, Money exchange) 27 11 5 6 330 In front of Cash Counters, main alleys
Restaurants (Casual Dining, Full service) 88 5 8 11 440 Main alley Corners
Anchor (i.e. Beauty, Food...) 275 2 14 20 560 Corner Big-Box
Line Shops (i.e. Small Fashion, Bank, Clinic) 70 11 7 10 770 Main alley
Totals 40 2208.9
First estimation of sublease income average per SQM – 13 KWD
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Option -1-
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Option -2-
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Sales Estimation
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Feasibility