new investment:Layout 1 30/7/09 08:56 Page 1 Altair Development in Lusail, Doha, Qatar. new investment:Layout 1 30/7/09 08:56 Page 3 Contacts Contents All communications and enquiries relating Executive Summary 01 to this offer should be directed to either: The Developers and Partners 02 Qatar Overview 03 Equity Investment Enquiries Investment & Infrastructure 07 Will Hean Property Market 09 Kenmore Property Group Lusail Overview 14 PO Box 282110 The Altair Development 17 Dubai UAE Tel: +971 (0) 42942032 Appendices [email protected] Key Executives 23 Developers and Sales Agents 27 Property Residential Enquiries Track Records 29 Andy McEwan Select Property Group Limited The Box Brooke Court Lower Meadow Road Wilmslow Cheshire United Kingdom SK9 3ND Tel: +44 (0) 7765237600 [email protected] Investment brochure for The Altair Development, Lusail, Doha. Investment brochure for The Altair Development, Lusail, Doha. new investment:Layout 1 30/7/09 08:56 Page 5 02 Executive summary The Developers and Partners Tameer Real Estate Company WLL has acquired a 72,000 square foot plot in the Tameer Real Estate Company WLL was established in Qatar in its current form waterfront residential area of the Lusail masterplan, an expansion area just to in 2006 with a paid up capital of 324 million Qatari Riyals and assets over 1Billion the north of the centre of Doha, the capital of the State of Qatar. The plot QAR. Tameer is a national and international real estate development, investment surrounds a private beach at the northern end of the waterfront district. Lusail and holding company. The Board of directors is chaired by Abdulaziz Bin will effectively be a city with a population of 200,000 enjoying unrivalled Mohammed Al Attiya. employment, residential, retail, entertainment and transportation facilities on their doorstep. Kenmore Property Group is a leading, privately owned, Scottish property company with a strong UK and European management platform and an The intention is to develop a 35 storey luxurious residential tower over a gross impressive track record across the three main real estate disciplines: Investment, floor area of approximately 290,000 square foot consisting of 170 apartments Development and Asset Management. Kenmore was formed in 1986 and now and with a total development cost of approx QR+300 million. Construction is operates throughout the UK, Europe, Scandinavia and Dubai with assets under due for completion end-2011. It is anticipated that these apartments will be management in excess of US$ 3.7 billion. sold in a number of phases at sale prices between QR1,700 and QR2,100 per sq Middle East Alignment WLL is a successful and reputable Qatar-based real estate ft with the first phase to be launched in Q1 2010. development and investment management company. Partners include Abdualaziz Mohammed Al Attiya, who is Chairman of the Al Attiya Group of Tameer Real Estate Company WLL has teamed up with Kenmore Property Companies and H.E. Dr. Khalid Bin Mohammed Al Attiya, who was recently Group to co invest in the project and jointly established for that purpose appointed to Minister of State of Qatar for Business and Trade in addition to his Kenmore Waterfront Company WLL (‘the company’) in the state of Qatar. existing responsibility as Minister for International Co-operation. ME Alignment possess a strong track record and significant expertise in land acquisition and Further, Tameer Real Estate Company WLL has appointed Kenmore Property property development management for real estate projects of over US$250m Group and Middle East Alignment WLL to jointly perform the project development and project management services. Select Property Group is a global property company based in the UK that has completed residential property sales in excess of $1.4 billion to clients in over Select Property Group Limited (“Select”) is acting as sales agent for Tameer Real 80 countries over the last 5 years. Select specialises in the end to end provision of Estate Company, Kenmore Property Group and Middle East Alignment WLL marketing, sales and customer service solutions. It’s experience in the middle east (together “the Developers”) in relation to sales activities of the project. includes selling out all units in six residential towers at Dubai Marina very similar in nature to the development project in Lusail. In addition to it’s core business Select Select and the sponsors are approaching a small number of high net worth is also an active JV property developer in Ras al Khaimah and Dubai. individuals and institutions to sell either equity in the development company or a material number of units within the project. Investment brochure for The Altair Development, Lusail, Doha. Investment brochure for The Altair Development, Lusail, Doha. new investment:Layout 1 30/7/09 08:57 Page 7 04 Qatar Overview Key Statistics (2008 estimates) Geography Rich Natural Resources Qatar is an independent Arab State situated Qatar has set itself apart from its on the Western coast, at the heart of the neighbouring countries, as not only is it the GDP $83.29 billion Arabian Peninsula, within close proximity to richest nation in the GCC and one of the GDP growth 11.8% Saudi Arabia, and sharing maritime richest nations in the world, even during boundaries with Bahrain and the United GDP per capita $101,000 the current global downturn Qatar is Arab Emirates. predicted to achieve GDP growth of GDP by sector approximately 9.6% in 2009, the fastest Agriculture (0.1%) Demography economic growth rate among the world’s Industry (79.4%) richest nations. Due to an influx of foreign workers, Ranked third in the world in terms of Services (20.5%) triggered by the country’s economic natural gas reserves, Qatar’s phenomenal performance, a boost in population figures Inflation (CPI) 15.2% GDP growth continues to move from was reported in Dec ’08. The population Population 1.5 million strength to strength. increased by over half a million in just 4 Growth (%) 2003-08 102% years to record one of the world’s highest Expat population (%) 80 growth rates. Economic growth and iconic real estate projects are a magnet to expatriates, lured to Qatar by attractive tax-free employment packages. Furthermore Qatar has a much higher number of professionals and technicians in comparison to the employment mix in the neighbouring states. World’s richest nations (nominal GDP/Capita, 2008) World’s fastest growing population Australia Afghanistan Austria Bahrain Belgium Burundi Denmark East Timor France Equatorial Guinea Finland Liberia Ireland Macau Kuwait Qatar Netherlands UAE Norway Uganda Qatar Sweden 0 20406080100% Switzerland UAE USA 30 40 50 60 70 80 90 100 USD ‘000s Voted ‘The best regional model for its neighbours to emulate’ by the World Ecomomic Forum. Investment brochure for The Altair Development, Lusail, Doha. Investment brochure for The Altair Development, Lusail, Doha. new investment:Layout 1 30/7/09 08:57 Page 9 06 Qatar Overview The Economy Growth and Development Qatar has achieved in decades what many • It was named the “best regional • Qatar's goal is to become a major countries take centuries to attain and is model for its neighbours to emulate” in international centre for finance and now one of the highest rated economies 2005 by the World Economic Forum. investment management, a vision among GCC countries according to Capital shared by its government, people and • Having experienced rapid growth in Intelligence, Moody’s and Standard & institutions. recent years, the Qatari government has Poor’s. Market Indicators, 2008 - 2013 accumulated trade surpluses which it is • The Qatari government has always held an open attitude to investment Its stable economy and relatively small investing in projects to diversify its 2008 2009 2010 2011 2012 2013 population has allowed Qatar to maintain economy. Unlike its neighbours, Qatar is and business, which is demonstrated its position as one of the best performing financing such projects from current oil through a multitude of facts: Population (m) 1.5 1.7 1.8 2.0 2.2 2.4 economies and has one of the world’s exports, which make it less reliant on • No income tax Per household consumption (US$m) 18,066 20,957 23,451 25,913 29,282 33,088 highest per capita GDP’s. external credit flows. • No withholding tax Current account balance (% of GDP) 19.4 3.0 19.5 22.4 22.9 20.0 Having been the least affected country in • The rich natural resources and Qatar’s • Stable exchange rate pegged Budget balance (% of GDP) 8.6 -2.1 2.4 5.1 5.9 5.7 the GCC region by the global economic attitude to business has enabled its to the dollar downturn, the future for Qatar is extremely residents to enjoy the second highest positive with its gas & oil reserves, GDP per capita in the world. development plans and rising population • $103,500 (2008) sustaining the demand for commodities, services and real estate. • $94,200 (2007) • $85,800 (2006) Oil and Gas Revenue Economic Diversification • Qatar is one of the largest exporters of Liquefied Natural Gas (LNG) and has The Qatari government intends to continue to boost public spending by the third largest gas reserves in the Main picture: Major Gas refinery. Qatar. world. allocating a total expenditure of $25.9 billion for the fiscal year 2009/2010. • Additionally it has oil reserves that With a commitment to invest in non oil could support its current levels of and gas sectors, the government is set to output for 37 years. achieve economic diversification through • Unlike other GCC countries, Qatar has public spending on transportation, not maximised the extraction of its healthcare, sports, education and housing existing oil and gas capacity.