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Sheikh Ahmed Square

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Sheikh Ahmed Square Sheikh Ahmed Square APRIL 2020 INTRODUCTION PROJECT ESSENTIALS Sheikh Ahmed Square is mixed-use residential and commercial complex located in Al Jaddaf municipal district of Dubai. Project Details Facing Dubai-Al Ain Road, the complex comprises of two towers joined by a podium. The towers total of 180 two-bedroom apartments which are Developer Dubai Real Estate Centre LLC slated to accommodate the crew of Emirates Airlines from Q3-2020. The podium houses 55 commercial units on the ground & first floors. The proposed retail offering includes a supermarket, everyday essentials Project Name Sheikh Ahmed Square goods & services on the ground floor, further retail and F&B offerings on first floor. Plot 326-0842, Al Jaddaf, Dubai, Project Location Parking with 650 bays is available for visitors in front of the building and UAE in a multi-level structure to the rear of the building. Coordinates 25°12'51.0"N 55°18'54.3"E GLA (m²) 12,046 Retail Levels GF & L1 Units 55 Parking 650 Opening 2020 2 SITE ANALYSIS LOCAL ACCESS/EGRESS AL WASL AL JADDAF SPORTS CLUB SHEIKH AHMED SQUARE PARKING Access Drop off 100m Egress Source: Google Maps; McARTHUR + COMPANY Analysis 3 SITE ANALYSIS SITE PHOTOS View towards the front of the building 4 SITE ANALYSIS SITE PHOTOS Approach to the property from E66 Dubai Al Ain Rd 5 SITE ANALYSIS SITE PHOTOS View of the rear of the property from the parking structure 6 SITE ANALYSIS SITE PHOTOS View of entry from Al Nouras Street View of drop off area to the front of the building View of entry from/exit to Al Nouras Street View of exit on to Al Nouras Street 7 SITE ANALYSIS SITE PHOTOS 8 SITE ANALYSIS SITE PHOTOS 9 DEMAND ANALYSIS TRADE AREA MAP DUBAI GARHOUD AL JAFFILIYAH UMM HURAIR 2 ZABEEL 1 DUBAI FESTIVAL CITY PROJECT SITE AL JADDAF ZABEEL 2 DUBAI CREEK HARBOUR Key Primary Trade Area (PTA) 1 km Secondary Trade Area (STA) Source: Google Maps; McARTHUR + COMPANY Analysis 10 DEMAND ANALYSIS TRADE AREA MAP & DRIVE TIMES DUBAI GARHOUD AL JAFFILIYAH UMM HURAIR 2 ZABEEL 1 DUBAI FESTIVAL CITY PROJECT SITE AL JADDAF ZABEEL 2 DUBAI CREEK HARBOUR Key PTA STAAL DHAGAYA Drive Time <5mins 6-10mins 1 km 11-15mins Source: Google Maps; McARTHUR + COMPANY Analysis 11 DEMAND ANALYSIS PRIMARY TRADE AREA DEVELOPMENT The primary trade area includes several long-established institutions and hospitality complexes, including Al Wasl Sports Club, Latifa Hospital, Dubai Police Officers Club, Al Jalili Childrens Hospital, Belhasa Driving Centre, Arabian Park Hotel, Park Hotel Apartments and Marriott Hotel Al Jaddaf. Recent years, however, have seen the rapid development of residential high-rise apartment towers. The rapid development is expected to continue in the coming years, as there are currently more residential buildings under construction than completed ones. Further hospitality developments are in the pipeline, including Al Jaddaf Rotana & Residence Inn by Marriott. Important commercial office buildings are currently limited to the FAB Dubai HQ. Binghatti Gateway under construction in the PTA Primary Trade Area Development 10,000 8,000 Residential Units 6,000 Hotel 4,000 Rooms 2,000 0 2017 2018 2019 2020 2021 2022 2023 2024 2025 Source: McARTHUR + COMPANY Analysis. Note: Residential units includes serviced apartments 12 DEMAND ANALYSIS PRIMARY TRADE AREA: POPULATION & HOUSEHOLDS We estimate the population of the primary trade area to have reached around 8,171 by the end of 2021 and we forecast that it will reach 11,595 by the end of 2023 and 13,829 by 2025. Primary Trade Area Unit 2021f 2023f 2025f Our estimates include assumptions regarding the occupancy level of the units of existing stock and those that will come to market over the next few years and mature over time, as well as assumptions regarding double occupancy rates (eg 2 residents per unit on average given that the bulk of units are 2-bed apartments). Residential Units # 5,107 7,247 8,643 The residents of the area are a mix of family households and collective households (non-related individuals sharing an apartment). Some buildings are dedicated to staff accommodation. Average property rentals in the area are around the AED 45-55k mark Occupancy % 80 80 80 for 1-bed units and AED 65-80k for 2-bed units. Households are typically in mid- to lower-middle income bracket. The mix of nationalities is predominantly South Asian, non-GCC Arab, Households # 4,086 5,798 6,914 Philippines. Average Household Size # 2 2 2 Population # 8,171 11,595 13,829 13 DEMAND ANALYSIS SECONDARY TRADE AREA We expect the secondary trade area of the project to include the residential areas of Zabeel First, Zabeel Second and Jaddaf Waterfront, Secondary Trade Area 2021f 2023f 2025f all of which lie within a 10mins drive of the project. In total there will be an estimated 11,478 residents living in 3,245 households in the secondary trade area by 2021. We expect this to Households increase steadily in the case of Zabeel First/Second and rapidly in the case of Jaddaf Waterfront over the coming years. In addition to the residential buildings, major hospitality facilities in the Zabeel First/Second 1,085 1,124 1,196 area include the 250-key Palazzo Versace Dubai 5-star hotel. Jaddaf Waterfront 2,160 2,600 2,880 Total 3,245 3,724 4,076 Population Zabeel First/Second 7,158 7,419 7,895 Jaddaf Waterfront 4,320 5,200 5,760 Total 11,478 12,619 13,655 Dubai Wharf 14 LEASING STRATEGY SPACE PROGRAMME # Unit No Floor Category SubCategory Area 1 GF_1 GF F&B Restaurant 282 2 GF_2 GF F&B Specialty Food 115 3 GF_3 GF F&B Restaurant 263 4 GF_4 GF Services Bank 237 5 GF_5 GF Services Pharmacy 206 6 GF_6 GF Retail Party Supplies 195 7 GF_7 GF Services Tailor 113 8 GF_8 GF Services Pet Shop & Veterinary 148 9 GF_9 GF Services Printing & Typing Centre 132 10 GF_10 GF F&B Café (Non-Cooking) 91 11 GF_11 GF Services Nursery 478 12 GF_12 GF Services Reflexology / Masage Centre 132 13 GF_13 GF F&B QSR 124 14 GF_14 GF F&B QSR 100 15 GF_15 GF F&B QSR 143 16 GF_16 GF Retail Perfume & Cosmetics 85 17 GF_17 GF Retail Gifts & Cards 108 18 GF_18 GF F&B Restaurant 204 19 GF_19 GF F&B Restaurant 203 20 GF_20 GF F&B Impulse Food 54 21 GF_21 GF Services Driving School 49 22 GF_22 GF Retail Book Store 64 23 GF_23 GF Retail Mobile & Electronics 62 24 GF_24 GF F&B Impulse Food 66 25 GF_25 GF Services Laundry 53 26 GF_26 GF Services Exchange 59 27 GF_27 GF Services Telecom 65 28 GF_28 GF Services Nutrition 54 Note: Stabilised Base Rent In Yr 3 15 LEASING STRATEGY SPACE PROGRAMME (CONT’D) # Unit No Floor Category SubCategory Area 29 GF_29 GF F&B Impulse Food 54 30 GF_30 GF F&B Café (Non-Cooking) 118 31 GF_31 GF F&B Restaurant 271 32 GF_32 GF F&B Restaurant 256 33 GF_33 GF F&B Specialty Food 130 34 GF_34 GF Retail Optical & Sunglasses 118 35 GF_35 GF F&B Café (Cooking) 199 36 GF_36 GF F&B QSR 124 37 GF_37 GF F&B QSR 104 38 GF_38 GF Anchor Supermarket 515 39 GF_39 GF F&B QSR 73 40 GF_40 GF F&B QSR 65 41 GF_41 GF F&B QSR 80 42 GF_42 GF Services Barber 60 43 GF_43 GF Services Ladies Salon 380 44 L1_1 L1 F&B Restaurant 447 45 L1_2 L1 Services Martial Arts 372 46 L1_3 L1 Services Medical / Clinic 1,014 47 L1_4 L1 Services Cosmetology Clinic 236 48 L1_5 L1 Services Government Services 394 49 L1_6 L1 Services Dental Office 381 50 L1_7 L1 Services Kids Play Centre 326 51 L1_8 L1 Services Musical / Balet Studio 571 52 L1_9 L1 Services Tutoring Centre 315 53 L1_10 L1 Services Group Exercise Studio 396 54 L1_11 L1 Services Health Club 891 55 L1_12 L1 F&B Café (Cooking) 271 TOTAL 12,046 Note: Stabilised Base Rent In Yr 3 16 LEASING STRATEGY MERCHANDISE MIX – GROUND FLOOR 17 LEASING STRATEGY MERCHANDISE MIX – LEVEL 1 18 .
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