Em inhassoro eng

INHASSORO- MOÇAMBIQUEMaster Plan, Study of economic and financial viability and business

model of touristic project

PREPARADO PARA:

July 2013

July 2013

TOURISTIC RESORT INHASSORO

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INDEX

Introduction

Project description – Master Plan

Tourism Sector in Mozambique

SWOT analysis

Analysis of Economic and Financial Viability

Business Model

Conclusions

Team

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1. INTRODUCTION

• This document presents the developed work for the touristic project of Inhassoro, prepared by the following entities: LoB - Line of Business, Prime Yield MZ and Plural / Central Indico.

• The execution of the work was developed in the following way : • i) Plural / Central Indico with all the component of the Master Plan;• ii) Prime Yield MZ with the analysis of economic and financial viability of

touristic real estate product, I - Golf Resort and Sea II - Eco Resort planned for the area Inhassoro;;

• iii) LoB with the elaboration of the business model of the project.

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1. INTRODUCTION

• In this document are presented the main objectives of the study, such as: i) brief characterization of Inhassoro ii) analysis of viability, based on the master plan realized in partnership with the Central Indian / Plural, and iii) business model of the project.

• The analysis of economic and financial viability was based on a set of assumptions that we present below. In order to gauge which the viability of the business, based on the master plan provided, we chose to perform an approach by the method of residual value by Argus Software Developer.

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2. PROJECT DESCRIPTION

• The project consists in the construction of a touristic project, anchored in two parts: I - Golf Resort and Sea II - Eco Resort;

• The Resort Golf/Sea will comprise a 5 * hotel and two golf courses with 18 holes integrated with tourist chalets and residential units;;

• The Eco Resort will comprise a 4 * hotel, residential units and tourist chalets.

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• LOCATION MAP

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II

I

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3. TOURISM SECTOR

• Tourism in Mozambique has registered a positive evolution in both indicators on the supply side and demand side. The number of foreign tourists registered a growth of 11%, rising from 1.8 million in 2010 to about 2 million in 2011.

• Tourism revenue grew from $ 197 million in 2010 to about 231 million in 2011, representing a growth of 17.3%.

Graphic: Revenues of International Tourism(millions of USD)

Source: Bank of Mozambique

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3. TOURISM SECTOR

Figure: Priority areas for tourism investment

• According to the Strategic Plan, Mozambique is a vast and diverse country and it can’t be considered and managed as a sole destination. The three regions of Mozambique - South, Central and North, each has its own identity, strength resource, development priorities and regional partners.

• Are defined PATIs (Priority Areas for Tourism Investment), where the bet of tourism development should be concentrated.

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3. TOURISM SECTOR

• This map presents a framework of the main roads and railway lines. Mozambique is a natural gateway to the northeast of South Africa, Swaziland, Zimbabwe, Zambia and Malawi.

• The ports of Maputo, Beira and Nacala are the key elements of dynamic and may potentiate the development corridors.

• Vilanculos International Airport is located 25 km from Inhassoro.

Figure: Framework of the accessibilities

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3. TOURISM SECTORBENCHMARK OF TOURISTIC PROJECTS

Figure : Touristic Projects in Inhambane Province

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Preços médios

ÁGUIA NEGRA Vilanculos BeachImagensDescrição

Aguia Negra situa-se na praia de Vilanculos e tem vista para o mar para as ilhas de Margarupe e Benguerra. Os 12 chalés em altura foram construídos a partir de material indígena, e mistura no ambiente natural, todos projetados para acomodar um máximo de 4 pessoas. Os 10 quartos de luxo estão todos equipados para atender o seu conforto. Dispõe de restaurante e bar.

Standard - Quarto Duplo 141 USD e Single 77 USD Luxo - Quarto Duplo 166 USD e Single 103 USD

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Preços médios

Chibuene, VilanculosARCHIPELAGO RESORT

Sea View - Single 50 USD, casa 6 pessoas 190 USD (Natal e Páscoa 240 USD)Garden View - Single 50 USD, casa 6 pessoas 170 USD (Natal e Páscoa 220 USD)

Descrição Imagens

Archipelago Resort situa-se a 6 km do aeroporto internacional de Vilanculos. Dispõe de 18 chalets, restaurante, bar e piscina e vista para o Arquipelago de Bazaruto.

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Julho de 2013 Slide 36


RESORT TURÍSTICO INHASSORO

ARCHIPELAGO RESORT

Preço médio

Os preços na Azura começam a partir de 525 USD por pessoa/noite onde inclui um conjunto de serviços (jantar, bebidas, massagem, cruzeiro, lavandaria, seguro saúde) .

AZURA at Gabriel's Benguerra Island, Bazaruto ArchipelagoDescrição Imagens

Azura oferece 17 villas, 10 "villas beach", 3 "luxury villas beach", uma "beach villa"- situado no final do imóvel ao lado do Spa, ideal para lua de mel, "Villa amizade" - tem 2 quartos em suite localizada no extremo oeste da propriedade, com uma vista para o mar e para o pôr do sol, "villa presidencial" - moradia com uma localização muito isolado privada, alguns 150m até a praia principal Azura.


Preços médios

Standard Duplo - Single 345 USD Duplo 438 USDSuperior Room - Single 423 USD Duplo 485 USDFamility Rooms - Single 423 USD Duplo 485 USDSuperior Familiy rooms - Single 523 USD Duplo 616 USD

PESTANA BAZARUTO LODGE Bazaruto, MoçambiqueDescrição Imagens

O Pestana Bazaruto Lodge é um dos hotéis existentes em Bazaruto, a maior ilha do Arquipélago de Bazaruto, a aproximadamente 600 kms a Norte de Maputo a capital de Moçambique. Este hotel em Bazaruto foi renovado em Julho de 2007. Possui uma piscina exterior, uma sala de jogos e um Business Centre, equipado com computadores, ligação para portáteis e acesso à Internet. Também disponibiliza serviços de mergulho e snorkeling, como todas as variantes de pesca, incluindo pesca fly (insecto), pesca desportiva, marlim e pesca de praia.Possui 40 bungalows com telhado de colmo em forma de A, decorados com um estilo étnico ao ambiente tropical da ilha.

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4. SWOT ANALYSIS

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5. ANALYSIS OF ECONOMIC AND FINANCIAL VIABILITY

The assumptions :

• With regard to potential areas of construction, we assume the area described in the master plan conducted by the Central Indian / Plural and the division of the execution of the project in 5 phases (Phase I - Infrastructures, Phase II - Eco Resort - Hotel, Phase III - Eco Residential Resort, Phase IV - Golf and Beach Resort - Hotel, Phase V - Golf and Beach Resort - residential);

• All infrastructure costs considered in this viability analysis, refer only to the allotment of the touristic project and related to the area of project intervention.

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• With regard to potential areas of construction, we assume the area described in the master plan provided.

MAPA DE ÁREAS

Ecoresort - Residencial 34.700 m2 190 unidades

Ecoresort - Hotel 12.000 m2 120 quartos

Golfe e Mar Resort - Residencial 127.900 m2 650 unidades

Golfe e Mar Resort - Hotel 18.000 m2 180 quartos

ABC TOTAL 192.600 m2

Área Terreno 13.000.000 m2

ABC Unidades

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5. ANALYSIS OF ECONOMIC AND FINANCIAL VIABILITY Determinação do NPV

• Calculation of the NPV value of the project taking into account the master plan realized.

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• Summary of assumptions used in the viability analysis presented:

Custos de construção totais 200.100.000 USDC.Construção/m2 Residencial 1.000 USDC.Construção/m2 Hoteis 1.250 USDCustos infraestrtururas/arranjos exteriores 40.000.000 USDCustos de comercialização (3%) 14.785.127 USDEncargos Financeiros (14%) 16.952.405 USDTotal de Custos 288.644.532 USDReceitas com vendas 492.837.568 USDReceitas totais 492.837.568 USDValor unit médio/m2 Ecoresort Residencial 2.500 USDValor unit médio/m2 Ecoresort Hotel 2.544 USDValor unit médio/m2 Golfe e Mar Resort Residencial 2.500 USDValor unit médio/m2 Golfe e Mar Resort Hotel 3.100 USDTaxa de Actualização 17 %VAL 13.365.426 USDTIR 24,85 %

Análise de Viabilidade do complexo turístico em Inhassoro

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• Summary of assumptions used in the viability analysis presented (continuation):

Faseamento Ecoresort Hotel:Timming para inicio da construção 12 mesesDuração da obra 36 mesesTimming até à conclusão da análise 228 meses

Faseamento Ecoresort Residencial:Duração da obra 48 mesesVendas 48 mesesTimming até à conclusão da análise 228 meses

Faseamento Golfe e Mar Resort HotelDuração da obra 36 mesesTimming até à conclusão da análise 228 meses

Faseamento Golfe e Mar Resort Residencial:Duração da obra 96 mesesVendas 96 mesesTimming até à conclusão da análise 228 meses

Análise de Viabilidade do complexo turístico em Inhassoro

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Feasibility Analysis of the tourist complex in Inhassoro

Phasing Ecoresort Hotel:

Timming until the conclusion of the analysis 228 month

Duration of the work 36 month

Timming for the beginning of construction 12 month

Phasing Ecoresort Residential:



Phasing Golf and Sea Resort Hotel: Timming until the conclusion of the analysis 228 month

Sales 48 month


Sales 96 month



Phasing Golf and Sea Resort Residential:


• CALCULATIONS MAP

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6. BUSINESS MODEL

• Informação LoB

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7. QUEM SOMOS - EQUIPA

ENTIDADES ENVOLVIDAS

LoB Plural / Central Índico Prime Yield MZ

A equipa multidisciplinar envolvida no desenvolvimento deste projeto conta com a intervenção das seguintes entidades:

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The multidisciplinary team involved in the development of this project counts on the intervention of the following entities:

ENVOLVED ENTITIES

Residential- Maputo

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7. QUEM SOMOSRESEARCH MERCADO IMOBILIÁRIO

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Offices- Maputo

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Tourims- Maputo

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8. COPYRIGHT

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• This document is strictly confidential and property of the entities involved LoB - Line of Business, Prime Yield MZ and Plural / Central Indian and was prepared exclusively for the client.

• The document can’t be transmitted to others without prior written authorization of the entities listed above.

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PRIME YIELD MZConsultoria e Avaliação Imobiliária, Lda.

NUIT: 400342644

Av. Vladimir Lenine, 174 - 13ºMaputo - Moçambique Tel.: +258 – 849 305 999

e-mail: [email protected]

ANGOLALuanda: R. Rainha Ginga, 184 - 1º República de AngolaTel.: +244 222 391 911

Lobito: Av. da Independência, 167República de AngolaTel.: +244 272 226 395

[email protected]

BRASILSão Paulo: R. Oscar Freire, 379 | CJ 82Cep: 01426-001 | São Paulo | SP | Brasil - Tel.: +55 11 2770-0540

[email protected]

CABO VERDECidade da Praia: Fazenda - PraiaCaixa Postal 309CSantiago | Cabo VerdeTel.: +238 261 9122

PORTUGALLisboa: Av. António Serpa, 3D1050-026 Lisboa | Portugal Tel.: +351 217 902 540 Fax: +351 217 970 532

Porto: Av. Sidónio Pais, 3794100-468 Porto | Portugal Tel.: +351 226 003 501Fax: +351 226 003 501

[email protected]

19 de Março de 2013 Slide 51

RESORT TURÍSTICO INHASSORO

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