OWNERS ASSOCIATION CAPABILITY STATEMENT | 1

YEARSIN THE MIDDLE EAST

OVER

OWNERS ASSOCIATION CAPABILITY STATEMENT 2018

2 | OWNERS ASSOCIATION CAPABILITY STATEMENT

Our property services cover all land use categories/market sectors including:

THE CREDIBLE BRAND | THE TRUSTED BRAND | THE STRONG BRAND | THE REPUTABLE BRAND

As a truly integrated property services company the core business lines Asteco conducts from its offices throughout the Middle East are listed below. All of these are headed up by highly qualified Directors with decades of local and international experience in their respective fields:

Asset ManagementSalesLeasingValuation & AdvisorySales ManagementOwners AssociationLicensing

• Residential •Offices • Retail • Industrial • Land

Asteco | The property expert

YEARSIN THE MIDDLE EAST

OVER

5TOP REASONS why you should get Asteco to Sell or Lease your Commercial property

EXPERIENCED

COMPLIANT

TRACK RECORD

REPUTABLE

BESPOKE

Jordan

AMMAN

United ArabEmirates

Ras Al Khaimah

Umm Al Quwain

Ajman

SHARJAH

DUBAI

ABU DHABI

AL AIN

KSARIYADH

OWNERS ASSOCIATION CAPABILITY STATEMENT | 3

Core competency and achievements

Asteco strive to set the benchmark of international best practice through our experienced staff providing valuable insight and expertise to achieve effective management solution using our established operating procedures.

Asteco have successfully managed projects such as Oceana/DUKES on The Palm and Al Bateen Residences/Hilton Hotel in JBR, from their inception from the initial feasibility studies through Sales, and handover to Owners and set up of the Owners Association and onwards.

The Department is proud of its ability to transition projects into fully operational communities. We prioritise close attention and flexibility to Clients which has resulted in our extremely high Client retention.

Our philosophy of management differs from other companies. Asteco provide high quality bespoke management with effective resource allocation influenced by the requirements of the property, not what price level has been set without reference to need.

Being able to resource the project adequately ensures there is substantial support and capability at all times, maintaining quality in response and communication. Up to the minute reporting ability and closer supervision results in immediate decision making which assists in reducing inefficiency and costs.

Our robust accounting ability has placed Asteco as the go to company by RERA to test Escrow banking process and procedure for OAs. This resulted in Asteco being the first manager to set up an OA Escrow bank account directly dedicated to an Owners Association.

6.5milsq.ft. under management

7500+units under management

10 yearsexperience of managing Dubai jointly owned property

95%+units annual collection rates

4 | OWNERS ASSOCIATION CAPABILITY STATEMENT

Functions of Owners Association

Community Management Our approach to management is driven by our goal of maintaining and enhancing the asset value of the community through our tailored approach of working with and engaging the Management Board on the key management and enhancement areas of a building.

•Mastercommunityupdates • Regular newsletters •Charitydonations •Gettogetherevents •Resident’ssurvey

Financial Management Owners Associations managed by Asteco achieve a 95% - 98% service charge collection rate on an annual basis.

•DedicatedandindustryspecificqualifiedOA AccountsDepartment •Annualbudgetpreparation •Servicechargecollectionrate95-98% •ReserveFundandGeneralFundallocation •Monthlyreportingonexpenditurevsbudget

Facility Management

We look to form strong partnerships with quality companies to provide best value facility solutions.

These strategic partnerships allow for collaboration to enhance operations, resulting in improved efficiencies.

•Qualityassurance •Tenderingprocessforselectingserviceproviders •WeeklymeetingswithFacilityManagementTeam •Regularsitevisitsandinspections •Proactivepropertymanagement

Energy Management

Initiatives for residential and commercial buildings to reduce utility charges which are typically 40% of a property’s expenditure.

•Conditionassessment •Utilitycostanalysis •Reviewofenergysavingstrategies •Implementationofcostsavingplans •Energyandsustainabilityaudit

OWNERS ASSOCIATION CAPABILITY STATEMENT | 5

Team structure behind the successful operation

ManagingDirector/ Director-AssetServicesJohnStevens

AssociateDirector OwnersAssociationNicholasWhite

OwnersAssociationManagers andAdministrationstaff

HeadofficesupportFacilityServices|Accounts|Administration|Management

OwnersAssociationBoard

FacilityManagementserviceprovider Specialistserviceprovider

6 | OWNERS ASSOCIATION CAPABILITY STATEMENT

Owners Association managed by Asteco

Gold Crest Views 2 |JLTDubaiClient: Nakheel

Tiffany Tower | JLT DubaiClient:TheTiffanyGroup

MAG 214 | JLT DubaiClient:MAGGroup

Swiss Tower | JLTDubaiClient:DubaiProjects

Al Bateen Residences |Dubai MarinaClient:AlAinProperties

Index Tower |DIFC DubaiClient:UnionProperties

V3 Tower |JLT Dubai Client:Sh.SuroorBMAlNahayan

MAG 218 | Dubai Marina Client:MAGGroup

Churchill Tower |BusinessBayDubai Client:EmiratesNationalInvestment

Al Seef Tower |JLT Dubai Client:EmiratesNationalInvestment

Oceana Palm Jumeirah |Dubai Client:SevenTidesLimited

Syann park 1 |Dubai Client:SyannParkILimited

OWNERS ASSOCIATION CAPABILITY STATEMENT | 7

Jointly Owned Property Management services •Financialservices

•Insurance

• Meetings

•Administration

•Serviceprovidersupervision

•Halfyearlypreventativemaintenanceaudits

•Dedicatedsoftwareandonlinecommunityportal

•Customisedfeedbacksurveys

•Preparationofcommunityspecificservicestandards

•Fitoutandalterationcoordination

•Billingofutilities

•Procurementandevaluationofserviceproviders

•AdvisoryofJOPlaw.

•ExcellentcontactandrelationswithRERAand authorities

•BankingandEscrowaccounting

•MaturedrelationshipswithMasterCommunitiesand localauthorities

Services of Asteco’s Owners Association

Consultancy and Advisory service •Projectstructuringgeneralplanning,workshopsand strategydevelopment

•CreationofdocumentssuchasBuilding ManagementStatementandJointlyOwnedProperty Declaration

•Surveyingandplans

•ReserveFundanalysisandmaintenance

•TenderofCommonAreaserviceandspecialist provider

•Servicechargemodellingandbudget

8 | OWNERS ASSOCIATION CAPABILITY STATEMENT

DUBAI (HEAD OFFICE)Address: 3rd Floor, Rolex Tower, Sheikh Zayed Road, PO Box 65361 DUBAI, UAETelephone: +971 4 4037777Fax: +971 4 4037778

ABU DHABIAddress: SJ Tower, Level 8, Office 804-805, Airport Road, PO Box 45640, Abu Dhabi, UAETelephone: +971 2 6260068Fax: +971 2 6261923

SHARJAHAddress: Dar Al Majaz Building, 1st Floor, Jamal Abdul Nasser, PO Box 60696, Sharjah, UAETelephone: +971 6 5533400Fax: +971 6 5533104

AL AINAddress: National Bank Building, 1st Floor, Clock Tower Roundabout, Opposite New Post Office, PO Box 14443, Al Ain, UAETelephone: +971 3 7666097Fax: +971 3 7666092

JORDANAddress: Astra Plaza Office, Wadi Saqra Street, Astra Plaza, PO Box 3707, Amman 11821, JordanTelephone: +962 6 464 0011

KSAAddress: 617 Makkah Road, Riyadh 11461, PO Box 2889, Kingdom of Saudi ArabiaTelephone: +966 11 436 6564Fax: +966 11 491 4236

IN THE MIDDLE EAST FOR OVER 30 YEARS © Asteco Property Management, 2018 | asteco.com | Customer services: 600 54 7773

Disclaimer: The information contained in this report has been obtained from and is based upon sources that Asteco Property Management LLC (“Asteco”) believes to be reliable, however, no warranty or representation, expressed or implied, is made to the accuracy or completeness of the.information contained in this report, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. Asteco will not be held responsible for any third-party contributions

.All opinions and estimates included in this report constitute Asteco’s judgment, as of the date of this report and are subject to change without notice

Figures contained in this report are derived from a basket of locations highlighted in this report and therefore represent a snapshot of the real estate market. Due care and attention has been used in the preparation of forecast information. However, actual results may vary from forecasts and.any variation may be materially positive or negative. Forecasts, by their very nature, involve risk and uncertainty because they relate to future events and circumstances which are beyond Asteco’s control

.For a full in-depth study of the market, please contact Asteco’s Research team

Asteco Property Management LLC. Commercial Licence No. 218551. Paid-up Capital AED4,000,000 | ORN 180