Labor Accommodation -

May 2016 | Rasameel Structured Finance | Strategic Advisor

12% Projected Return

Building Valuer

Disclaimer:

This investment memorandum is not a formal information memorandum, placement memorandum, prospectus or any other offer document. This investment memorandum does not constitute a solicitation, an offer, an invitation or a recommendation to subscribe for, underwrite, purchase or sell any investment instruments to effect any transactions or to conclude any legal act of any kind whatsoever. This investment memorandum should not be treated as constituting an inducement or representation in connection with any solicitation, offer, invitation or recommendation, nor shall it or any part of it form the basis of or be relied upon in any way in connection with any agreement or application relating to any investment instruments including, without limitation, any shares in the company or interests in the partnership. This investment memorandum is not addressed to, directed at or intended for use by any person or entity resident or located in any jurisdiction where the distribution of such information is contrary to the laws of such jurisdiction, or such distribution is prohibited without obtaining the necessary consents, licenses or authorizations. The information contained in this investment memorandum is selective and for information purposes only, and may be subject to material updating, revision, verification or other change and should not be regarded by recipients as a substitute for the exercise of their own judgment. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the content of this investment memorandum. This investment memorandum does not comprise advice on the suitability of an investment in any investment instrument (including, without limitation, any shares in the company or Interests in the partnership) for any particular investor or prospective investor. When making a decision about your investments or if you are in any doubt about the contents of this document you should consult your stockbroker, bank manage, solicitor, accountant or other financial adviser. EXECUTIVE SUMMARY MASTER TENANT • Opportunity to invest equity in a labor camp building • Goldline Contracting LLC “Goldline”, a leading stated in Dubai underpinned by 3 yrs of term certain Building and Civil Construction Company was income let to a leading local construction company. incorporated in the year 1969. With over 90,000 residents, Muhaisnah is the most • Municipality, Dubai Chamber of Commerce, Abu Dhabi populated community in Dubai Economic Department and Abu Dhabi Chamber of Commerce as Unlimited Class “A” Contractors. INVESTMENT STRATEGY • Goldline signed a master lease agreement with the • Acquire an undervalued labor accommodation to new owners with a guaranteed fixed (NN) pmt for 3 benefit from its high CoC return for a period of 5 years years • The first 3 years holding, rent is guaranteed by • “Goldline” currently occupies 51% of the building “Goldline”, after which the rent is going to be based capacity rooms on direct let plus a possibility of renewal the master tenant with uplifts to rental value LEASE TERM • At the end of investment period the property will be sold in an open market or to strategic buyer • Master lease agreement with “Goldline” for 3 years • Double Net Lease (NN): the tenant is obligated to pay PROPERTY an agreed rent, as well as the property taxes property management, maintenance and DEWA fees. The • The subject property comprises of 4 similar G+2 landlord is responsible for building insurance concrete block structures which are designed for labor accommodation. The property was built in 2009 INVESTMENT TERMS • The property occupies a flat broadly rectangular shaped site of 70,000 sq ft Projected Return 12% pa • Each of the blocks comprises of 135 rooms, therefore providing a total of 540 rooms in total Investment Horizon 3+1+1 years

LOCATION Distributions Monthly • Muhaisnah is a locality in Dubai bordered by Al RSF Capital Seed 15% Qusais, , and . With over 90,000 residents, the most populated community in Projected IRR 14% Dubai. • The property is located 6km from Dubai International Airport, 7km from and Garhoud, 48km BUILDING PROPERTIES from Al Maktoum International Airport and 42km from the Expo 2020 site Purchase Cost USD 26,900,000 • Al Muhaisnah 2, also known as Sonapur is an established area of Dubai, allocated for labour camps, Occupancy Rate 99% set around Qusais Graveyard. Total Area 70,000 sq ft • Sonapur benefits from being in a location where there are few other comparable developments in the Year Built 2009 immediate vicinity. The area has good connectivity and proximity to Sharjah, particularly the industrial areas of the city