Persianas Group Profile Sep2011
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Transcript of Persianas Group Profile Sep2011
© Persianas Group, 2010
Anticipating the Future
© Persianas Group, 2010
Introduction &
BackgroundThe Persianas Group consists of various businesses, of which Persianas Properties
Limited (“PPL”) incorporated in 1990, is the largest business. Persianas is managed
by a highly skilled team of experienced professionals led by Tayo Amusan, a Nigerian
businessman with extensive experience in developing luxury residential, retail,
entertainment and hospitality centers as well as commercial developments in
Nigeria.
Persianas conceived the Retail Project in 1999, and was able to put together the
team of architects, engineers and investors (Actis) by 2002. Persianas launched the
ground-breaking retail project „The Palms‟ in partnership with Actis in 2003, which is
now the premier shopping destination for all Nigerians. In 2007, Persianas bought
out Actis‟ stake, thus retaining 100% ownership of the project.
Persianas has embarked on an aggressive growth plan, with projects being planned
and executed across Nigeria. It has several projects in the pipe-line totaling over
US$1 billion, covering mainly Retail, office and commercial properties.
Persianas is also expanding its business portfolio into Estate Management, Retail,
Trading of Construction Material, and other related activities.
© Persianas Group, 2010
Why
Persianas?
Successful and proven track-record in conceptualizing,
developing and managing a world-class Retail/Commercial
project in Nigeria. ‘The Palms’ is the strongest and biggest
Brand in Nigeria in this sector.
Very strong in-house team of specialists/consultants/ partners,
with proven track-record and international expertise.
Excellent working relationship with International and Domestic
Architects, construction companies, banks/ financiers,
consultants and other experts, guaranteeing a successful
delivery of the project with world-class standards.
Existing relationship/partnership with international and
domestic retail chains/outlets, which will be extended to all our
projects.
Persianas Group
Management
Development
Management
Asset
Management
Investment
Management
• Originate development
opportunities and
convert these into
quality assets
• Take advantage of land
value increase by
procuring appropriate
rights and developers
profit
• Responsible for the
investment decisions of
the investor.
• Ensures compliance
• Manages/monitors
performance
• Shifts the risk profile of
the asset to investment
grade
• Guides developer with
regard to investment
targets
• Houses the groups
wealth and forms basis
of balance sheet value
• Is the exit for the
developer
(developments can be
sold in full or part
• Forms the core
portfolio for listing
• Key to retain an audited
performance history
• Takes investment risk
© Persianas Group, 2010
Persianas Projects
Persianas Palm Court I & II
• Persianas Palm Courts is a
residential luxury apartment
estate located in Victoria Island
comprising of 2 blocks of 24
apartments and 3 penthouses.
• It provides functional and
luxurious accommodation to the
expatriate staff of multinationals
including Exxon Mobil, Ericsson
and the German Embassy
Persianas’ developed property portfolio includes developments such as:
© Persianas Group, 2010
• The Palms Shopping Center is the biggest shopping mall development in Nigeria
and is located on the border ofVictoria Island and Lekki Peninsula in Lagos.
• The mall comprises a double storey structure with a total built area of circa. 25,000 sqm
and 20,000 sqm lettable space.
• The Palms Mall project was completed at approximately US$50 million, with an equity base
of US$16.5 mil, and was voted African Finance Project Deal of the Year 2004 by The
FinancialTimes.
• Actis invested $10.5 million as equity, balance held by Tayo. Actis also put in the balance
project cost as debt. In Nov 2007,Tayo Amusan bought out Actis‟ stake in ‟The Palms‟.
• The mall was formally commissioned in April 2006 by His Excellency, The President of
Nigeria, Olusegun Obasanjo. Commercial Trading started in Dec 2005.
• Persianas has recently embarked on the expansion of „The Palms‟. The land adjacent to the
existing mall has been acquired, and the expansion is expected to add approx. 40,000 sq m
of constructed retail space and an additional 30,000 sq m of multilevel parking. The
expansion project is estimated to cost ca $150 million, and will take 2.5 yrs to complete.
Commencement of construction planned for 4th quarter 2011.
© Persianas Group, 2010
2006: Before Launch
© Persianas Group, 2010
• The Palms provides a very conducive and
safe environment for both businesses and
consumers.
• The Palms has 67 shops/tenants, generating
direct employment for approx 750 people.
• It generates approx US$8-10 million annually
asVAT revenue to the government.
• The various businesses at The Palms
supports over 600 suppliers/vendors,
generating further employment and tax
revenue.
• On an average around 300,000 consumers
visit The Palms each month i.e. 3.6 million
visitors annually.
Businesses
Consumers
Government
© Persianas Group, 2010
© Persianas Group, 2010
The Palms - Extension
The Phase II project for the expansion
of The Palms – Lekki is under way.
PPL plans to add an additional Retail
space of 40,000 sq. meters and 30,000
sq m of multi-level parking.
© Persianas Group, 2010
The Palms-Value Proposition
The Palms is a type of development that has never been undertaken in
Nigeria because of a lack of industry expertise and the absence of sizable
retailers willing to trade in Nigeria. However, the promoters have been
able to attract high quality anchor tenants regarded as Africa‟s leading
retail names to The Palms such as:
Game, one of South Africa‟s leading department
stores with operations in six countries.
Shoprite- extended ranges of basic
grocery and household products, service
departments and a bigger range of non-
food products
© Persianas Group, 2010
Value Proposition Persianas Group Shopping Malls offer an ideal tenant
mix of both international and local tenants offering a
range of retail, entertainment, services and restaurants.
Current Development Projects and
Opportunities
• Persianas is currently exploring other identified strategic
opportunities particularly in the retail and commercial
property market
• Development of the Palms Mall Phase II project.
• Replication of the Palms project across different states inNigeria
• Lagos
• Kano
• Ogun
• Strategic alliance with other Government agencies andparastatals viz. FAAN, Nigerian Customs, etc.
Palms Shopping Mall, Lekki
Description
Retail Mall with GLA of 19,520 sqm.
Offering Retail, Supermarkets,
restaurants, Cinema.
Anchor Tenants are Shoprite and
Game.
Woolworths, Max as tenants by end
2011
Valuation USD 140 mln
Details 100% owned by Persianas
Status
Trading Date Commenced 2007.
Planned expansion of the Palms to
be completed Dec 2011.
Managed by Broll and ARIA
Polo Park Shopping Mall, Enugu
Description
Retail Mall with GLA of 22,530sqm.
Offering Retail, Supermarkets,
restaurants, Cinema.
Anchor Tenants are Shoprite and
Game.
Sub-Anchor Tenants are Woolworths,
Hub Media and Max.
Valuation USD 75 mln
Details
80% owned by Persianas
20% owned by Enugu State
Government
StatusShoprite commenced trading Sept
2011.
Managed by Broll and ARIA
Portfolio of Projects
Kwara Shopping Mall, Kwara
Description
Retail Mall with GLA of 10,430 sqm
Offering Retail, Supermarkets,
restaurants, Cinema.
Anchor Tenant Shoprite.
Valuation USD 25 mln
Details
70% owned by Persianas
30% owned by Kwara State
Government
StatusUnder construction estimated
Completion Dec 2011
Managed by Broll and ARIA
Ibadan Shopping Mall, Ibadan Oyo State
Description
Retail Mall with GLA of 18,500 sqm
Offering Retail, Supermarkets,
restaurants, Cinema.
Letter of Intent from Anchor tenant
Shoprite
ValuationTotal Development Cost – USD 66
mln
Ownership
95% owned by Persianas
5% owned by Oyo State
Government
Status
Financing Secured. Construction to
commence Q4’ 2011. Estimated
completion end Q1’ 2014
Managed by Broll and ARIA
Portfolio of Projects
Expected Completion: Sept-Oct 2011
80,000 sq meters of Land
Phase 1: 27,500 sq m of Retail Space
Phase 2: 90 room Hotel & 9,000 sq m Office Building
1,400 car park space.
Family entertainment centre (with Giant Ferris wheel).
Centrally located in the heart of the city (GRA), with
road access from three sides.
• Ilorin's central location makes it
easily accessible to all parts of the
country by air, road transport or
rail. By road, Ilorin is equidistant to
all major population centres north
and south of Nigeria
• Expansive ground of 30,000 sq. m.
• 10,500 sq m of Retail Space
(including restaurants, Food-court,
Movies)
• Car park space for 400 cars.
• Key Tenants: Shoprite, KFC, The
Hub, Max, Wrangler, etc.
• Expected completion: December
2011
Ilorin, the capital of Kwara State is a confluence of cultures, populated by Yoruba, Hausa,
Fulani, Nupe, Baruba, Igbo, other Nigerians and foreign nationals, and presents the visitor
with an impressive number of evocative tourist attractions such as the imposing Sobi Hill that
was said to have offered protection to natives during inter-tribal wars in ancient times.
Kwara Mall
Ibadan Mall
• Expansive ground of 60,000 sq. m.
• 21,000 sq m of Retail Space.
• Car park space for 820 cars.
• Construction Commencement: Q4
2011, expected completion: Q1 2014.
• Phase 2: Hotel & Office Block.
Ibadan, the capital of Oyo State, is the third largest city in Nigeria by population (after Lagos and Kano), and the largest in geographical area. At independence, Ibadan was the largest and the most populous city in Nigeria and the third in Africa after Cairo and Johannesburg.
It is located in south-western Nigeria, 78 miles inland from Lagos and is a prominent transit point between the coastal region and the areas to the north.
Ibadan Project
AlliancesPersianas has partnered with several leading institutions in its quest to deliver ground-
breaking super-structures/multiplexes in a rapidly resurging real estate sector. Such strategic
partnerships include the under-listed international and local institutions, which over the
years, have provided the required financing, development, project management and advisory
capacity to develop large scale real estate projects.
Persianas Group
Persianas Palm Courts,
Plot 999A, Danmole Street,
Victoria Island,
Lagos, Nigeria.
Tayo Amusan: +234 803 403 0471
Prakash Pantham: +234 805 152 1111
Chuka Okoye: +234 805 700 2077
Mike Williams: +234 805 259 6103
Yetunde Williams: +234 815 428 9724
Email: [email protected]