Le Jardin de Fleur, Morocco

June 2010

Le Jardin de Fleur Project Information

Part I: Context – The Developer & The Market

1. Corporate Profile of Property Logic 2. Morocco: Country Profile 3. Morocco: Tourism Strategy

4. Property Logic’s Achievements in Morocco

Part II: The Project – Le Jardin de Fleur, Saïdia

5. Location & Infrastructure 6. Master Plan 7. Business Model

Contacts:

General enquiries :

[email protected]

Marketing & Press enquiries: [email protected]

Property Sales:

[email protected]

Property Logic CC Los Halcones, Local 17/18,

Ctra de Ronda A397, 29679 Benahavís, (Málaga) España

Context: The Developer_Section 1

1. Corporate Profile About Property Logic

Property Logic – developing new destination resorts Property Logic is a leading global real estate developer specialised in creating high luxury resort communities in emerging destinations. Established in 2005 and headquartered in Marbella, Spain, the company is creating prestigious upscale resort communities in Morocco and Brasil. Property Logic has become the prominent leader in the tourist development of Mediterrania Saïdia, a 7 million m2 coastal development on the northeast coast of Morocco. Its flagship project Le Jardin de Fleur comprises 11 resorts featuring luxury villas, townhouses and apartments. In 2006, the company acquired the exotic Brasilian island Ilha de Cajaíba, approximately 1100 hectares, located in Bahia. The development of this island will commence in 2010 and will provide a new generation eco-resort with luxury accommodation, signature golf courses and an emphasis on sports and wellbeing lifestyles. Property Logic sells property through a professional sales network committed to promoting the overseas property industry and specialised in the tourism sector. The company also has a dedicated and experienced in-house sales team available to support agents. For more information, please visit www.property-logic.com

Environmental Awareness Property Logic is a member of the US Green Building Council, working within LEED guidelines for architectural and developmental design strategies. This prestigious union is internationally recognised as the future for “green building”, providing sound advice for environmentally aware construction as well as encouraging sustainability in the surrounding environs. For more information, please visit www.usgbc.org


Founding Partners Property Logic was established in 2005 by three founding partners, who together bring a wealth of experience and vision.

Margus Reinsalu; Chairman of the Executive Board An Estonian citizen, Margus has an extensive business portfolio in commercial property, and is managing director of KC Grupp – a property development holding company with operations in Estonia. In 2007, the KC Grupp was responsible for significant deals with international operators for the development of land around the port of Muuga (Tallin, Estonia). He has been recently named as Honorary Consul of Morocco in Estonia.

Sean Cusack A British citizen, Sean brings over 20 years experience in the property industry. His original activities were centred on the challenging London real estate market where he was responsible for leading a large staff team across the capital. After selling his successful operations in the UK, Sean focused on the market niche of creating and developing new concept resorts.

Joop Huisman A Dutch citizen, Joop brings over 25 years experience in insurance, finance and the property industry. He began his career in 1977 as financial advisor at ABN/AMRO Bank. In 1985, he was leading the advisory department for business loans and insurance before joining Swiss Life as a pension advisor. After 5 years, he set up his own insurance and real estate brokerage which expanded to have 12 offices and 40,000 clients within 10 years.

Executive Board Members

Alvaro Hidalgo; Managing Director, Property Logic International Alvaro manages the strategic running of all Property Logic operations. He brings more than 20 years of expertise, having worked in Financial Markets and Merchant Banking in Spain, France and the US, in addition to his experience in the public regulatory framework in South America as part of the World Bank funded UNOPS programmes. This combination of experience in both emerging and developed markets ensures Property Logic’s capacity to comply with the different legal and financial frameworks within which the company operates.

Dick Blom; Managing Director, Brazil Dick is responsible for all of Property Logic’s Brazilian activities. He has more than 10 years of senior management experience, specialising in the set up and development of new markets, projects and offices. Prior to joining Property Logic in 2007, Dick was the President for LogicaCMG (South America), a large Anglo-Dutch consulting company with headquarters in São Paulo. From the year 2000, he was solely responsible for the successful set up and development of their very lucrative new South American enterprise.


History & Key Milestones December 2005 - Property Logic is founded by three partners and acquires two plots of land on the Mediterrania Saïdia master development, in the Moroccan province, Berkane. January 2006 - The company’s first two projects comprising of beach and golf apartments and villas are brought to market under the brand name Le Jardin de Fleur. March 2006 - Property Logic acquires a further nine plots in Mediterrania Saïdia to develop luxury 5 star villas, apartments and townhouses in beach, marine and golf locations. July 2006 - The company acquires a 1100 ha private island Ilha de Cajaíba in Brasil, off the coast of All Saint’s Bay in Bahia, near Salvador, to develop a luxury eco-resort. September - November 2006 - Le Jardin de Fleur releases for sale three further projects of townhouses, apartments and villas. February 2007 - Flagship 5 star Condominium Resort is launched. - Football stars Rio Ferdinand and John Terry invest in Le Jardin de Fleur. April 2007 - Le Jardin de Fleur releases for sale an additional project of villas. July 2007 - Property Logic organises the first ever direct charter flight from London to the resort in Saïdia, transporting 70 British second-home buyers and investors. September 2007 - An additional development of villas is released for sale. - Property Logic becomes preferred partner of the Moroccan government, winning the bid to be master developer of a 650 ha resort project at Cap de l’Eau on the northeast coast of Morocco. October 2007 - Le Jardin de Fleur wins two CNBC awards for Best Development & Best Golf Development, Morocco.


June 2008 - Property Logic signs a management agreement with Rezidor Hotel Group for the operation of the Radisson Resort & Spa, Saïdia. July 2008 - Le Jardin de Fleur wins CNBC Awards for the second consecutive year in the categories of Best Development Morocco, Best Golf Development Morocco and Best Architecture. September 2008 - Property Logic signs a duo of management agreements with Best Western Premier and the Marrakech based luxury hotel company, Hivernage. October 2008 - Property Logic signs a management agreement with Golden Tulip. November 2008 - Property Logic receives further international industry recognition with two prestigious awards within the same week; Overseas Property Professional gives high praise for the Best Developer Partnership Programme along with high commendations for its work within the Africa region, and Homes Overseas Awards 2008 awards Property Logic for Best Development Morocco. February 2009 - Property Logic signs management agreements with Kenzi Hotels Group for the operation of a Kenzi Premium Resort in Le Jardin de Fleur Saïdia and with Marrakech-based SAKA Hospitality Group for the opening of a Crystal Boutique Resort. May 2009 - Property Logic signs agreement with WORLDHOTELS to manage luxury golf resort plot VVT-8. June 2009 - The destination of Mediterrania Saïdia officially opens with the inauguration by the King on 19 June. The event marks the opening of the second phase of Marina Saïdia, the third largest marina in the Mediterranean with capacity to host 1,350 boats. Also opened are "Medina Saidia", a 40-ha shopping centre taking the shape of a Moroccan traditional city, “El Palmeral” golf course, an 18 hole championship course to be managed by Troon Golf and two beach front hotels: the Barceló and the Iberostar. October 2009 -Property Logic is awarded as Best Developer by Overseas Property Professional for the second year running. Additionally it is given the “Highly Commended” accolade. December 2009 - Property Logic signs agreement with Franklyn Hotels and Resorts to manage two luxury golf resorts. June 2010 - Property Logic announces the option to SIPP investments with Le Jardin de Fleur.

Context: Morocco Profile_Section 2

2. Morocco Country Profile

The Kingdom of Morocco is located in North Africa, bordering the North Atlantic Ocean and the Mediterranean Sea, between Algeria and Western Sahara. Population: 34,859,364

Background Hi Majesty King Mohammed VI has brought modernity to his North African country since taking the throne on July 23, 1999.

• Over the past decade, Morocco has built an infrastructure that is the envy of its Maghreb neighbours. From 100 kilometres (60 miles) of major highways in 1999, Morocco's main cities will be connected by 1,500 kilometres of motorway by 2011.

• On the Mediterranean coast, the 825 million euro (1.15 million dollar) Tangiers Med project was launched to create the biggest port in Africa. Plans are underway for a high-speed train to connect the port to Casablanca.

• The government’s Vision 2010 Tourism Strategy aims to invigorate global travel to Morocco and attract 10 million visitors by 2010. Known as the Plan Azur, the programme will develop six new coastal resorts with overall capacity for 85,000 hotel beds and 35,000 residential beds. The first resort, Mediterrania Saidia, opened in June 2009.

• Morocco was named ‘African Tourism Destination of the Year’ in 2009, at the African Business Awards organised by African Business magazine and Commonwealth Business Council (CBC).

• In 2000, Morocco entered an Association Agreement with the EU and, in 2006, entered a Free Trade Agreement (FTA) with the US. In 2008, Morocco obtained "advanced status" relations from the European Union, to gain greater access to Europe's single market.

• In 2005, Morocco launched the National Initiative for Human Development (INDH), a $2 billion social development plan to address poverty and unemployment and improve the living conditions of the country's urban slums.

Context: Morocco Profile_Section 2

Economy Progress: The macroeconomic, structural and commercial reforms that Morocco has undertaken since 2003 have contributed to a growing diversification and a positive overall performance of its economy. The financial sector has seen improved performance and the industrial sectors are steadily developing. Social welfare has been improved through a successful rural electrification program plus an overhaul of the tourism and agriculture sectors. Record agricultural harvest, strong government spending and domestic consumption combined to help GDP grow by 5.1% in 2009. Q1 2010:

• Morocco's economy growth increased by 4.6% in the first quarter of 2010 – a figure that is expected to hold for year end 2010.

• The European Union has also announced an increase to the 645 million euros having already been invested in support of the country’s reforms.

• Morocco has been, to some extent, spared from the international financial crisis, attributing this performance to the relatively low and long term external debt and its strengthened macroeconomic policies. The outlook of Morocco's economy remains positive (source: International Monetary Fund, IMF).

GDP - composition by sector:

• Agriculture: 14.7% - (Products: Barley, wheat, citrus, wine, vegetables, olives, livestock)

• Industry: 38.9% - (Phosphate rock mining and processing, food processing, leather goods, textiles, construction, tourism)

• Services: 46.5% (*estimates)

Exports - commodities: clothing and textiles, electric components, inorganic chemicals, transistors, crude minerals, fertilizers (including phosphates), petroleum products, citrus fruits, vegetables, fish (2010) Imports - commodities: crude petroleum, textile fabric, telecommunications equipment, wheat, gas and electricity, transistors, plastics

Context: Morocco Tourism Strategy_Section 3

3. Morocco Tourism Strategy: Plan 2010 After his enthronement in 1999, His Majesty King Mohammed VI announced his ambitious development plans for Morocco. The “Plan 2010” tourism strategy aims to increase tourism to 10 million annual visitors and create 600,000 jobs in the tourist industry. This new initiative has created attractive opportunities for investors in the travel and tourism industry.

Tourism Industry Figures

• The Tourism Minister of Morocco has reported that receipts will reach $52 billion in 2010

• Receipts for January – February period 2010 have risen by 10.5% compared to the same period in 2009

• More than one million tourists visited the kingdom in the first two months of 2010, registering a rise of 14% relative to the same period last year

• The tourism sector now accounts for more than 9% of Morocco’s GDP

• Morocco reported a 6% increase in arrivals in 2009 (8.34 million tourists in total). This is in some part due to an increase in tourism numbers from Spain, the Arab countries, Italy, France and Belgium

• It is expected that the Plan Azur resorts will have a good impact on the tourism sector with an estimated total of 42 billion receipts in 2010

• Morocco’s travel and tourism industry is expected to grow in nominal terms to $30.4 million by 2018, according to World Travel and Tourism Council

• French tourists top the visitor list with 1.37 million (+9%), followed by the Spanish (714,000, + 19 %), the Belgians (184,000, +19 %), the German (176,000, +8 %), the Dutch (163,000, +15 %), the British (154,000, -13 %) and the Italians (130,000, +10 %)

Plan Azur

Overall objectives: To be achieved through strategic programmes:

- Triple bed capacity (city, rural and coastal) - Create 6 new coastal resorts (Plan Azur) - Train tourism industry staff - Create air transportation capacity and incentives - Tour operator partnerships - Infrastructure & tourist services improvement (airports, motor ways etc) - Provide incentives to hotel developers and investors

Context: Morocco Tourism Strategy_Section 3

In January 2010, the new Minister of Tourism was appointed to the Moroccan government to pursue the Plan Azur initiatives that include improvements to the transport network and a steady increase in tourism numbers. The Tourism Minister, Mr. Yassir Zenagui, expects that all of the Plan Azur resorts will have a good impact on the tourism sector (which he estimates to total €42 billion receipts in 2010) and reports that more than 1 million tourists visited the country in the first 2 months of 2010 giving a 16% rise for the first quarter.

The Plan Azur: Six coastal resorts Plan Azur is a national programme to create six integrated Government-backed developments on priority sites along the Moroccan coastline. Mediterrania Saïdia was the first to open in 2009 being officially inaugurated by His Majesty King Mohammed VI, shortly followed by Mazagan beach resort in El Jadida. Lixus, Mogador and Taghazout have also been attributed and Plage Blanche currently awaits a master developer. The infrastructure for new arrivals to these destinations is being prepared with the help of Morocco’s Open Skies policy that aims to lower airfares and boost internet sales. PLAN AZUR IN FIGURES:

• 46 billion DH (€4 billion)

• Accommodation capacity: 110,000 beds (including 80,000 hotel beds)

• Area covered: 3000 hectares

• Expecting 10.25 to 11.5 billion dollar foreign exchange earning

• 600,000 new jobs

The 9th annual Assises du Tourisme in Morocco was celebrated in 2009 in Saidia coinciding with the inauguration of the destination – the first of six resorts that form the Plan Azur of King Mohammed VI. Property Logic’s resort developments are located in the new costal destination of Mediterrania Saïdia,

Context: Property Logic in Morocco_Section 4

4. Property Logic in Morocco Property Logic is one of the leading touristic developers of the Mediterrania Saïdia resort. The 11 luxury boutique resorts developed by Property Logic under the brand Le Jardin de Fleur enjoy prime locations within the destination and now total almost 1,400 touristic properties (more than 5,000 beds). Since the creation of Property Logic in 2005, the company has made significant achievements in terms of penetrating the business sphere in Morocco. The developer maintains a constant flow of communication with Moroccan authorities, organizations and associations.

Moroccan Partnerships

Kenzi Hotels Group has been selected to manage the 59 large riad-style villas, located amidst two of the golf courses.

SAKA Hospitality will manage the Crystal Resort, featuring 50 exclusively designed residences with rooftop pools.

Hivernage Hotels & Spa will feature 76 villa residences, each with their own private pool.

International Hotel Partnerships Property Logic has contracted with international hotel chains to the new coastal destination of Mediterrania Saïdia with the objective of raising the international profile and reservations capacity of the resort and attracting high quality tourism from strategic European markets.

Rezidor signed a management agreement with Property Logic to operate the 5 star Radisson Resort & Spa, featuring 384 rooms and 97 villas.

WORLDHOTELS, has signed a management agreement with Property Logic, to create a luxury golf resort .

Best Western Premier will operate Le Jardin de Fleur’s first resort of 126 luxury hotel suites.

Starwood Group, through subsidiary Golden Tulip Hospitality, will manage 234 apartments in a prime central position within the destination.

Franklyn Hotels and Resorts. The group will operate two Le Jardin de Fleur developments including apartments, townhouses and villas.


Introducing the UK market to Saïdia Le Jardin de Fleur has attracted over 600 owners who have invested in the prestigious resorts, the majority of which are from the UK. (72% clients have originated from UK & Ireland, 24% from other European countries and 4% from the rest of the world). The average purchase price has been approximately 250,000€ with a 60-40 per cent preference for the large apartment options over villas. Le Jardin de Fleur appeals to those attracted by the prospect of investing in a five star resort within close reach of Europe. Le Jardin de Fleur’s key concept attracts a particularly high caliber investor – a concept that provides choice, luxury and exclusivity. The concept is equally applicable whether the client intends to use the purchased property for holidaying, retiring or simply to enjoy the economic rewards of touristic rental income that is maximized by the intrinsic hotel operator scheme.

Awards for Best Developments in Morocco Property Logic has attracted international industry recognition for the quality of its developments by winning 8 prestigious awards. These awards recognize Property Logic’s commitment to the highest levels of quality in terms of partnership, architectural design and development. Property Logic is the only European company with business operations in Morocco to win 8 prestigious awards for its best practices and quality of development. These awards recognize Property Logic’s commitment to the highest levels of quality in terms of partnership, architectural design and development. “We are delighted to have been voted best among our respected industry peers. Our vision for Le Jardin de Fleur resorts in Morocco has always been based on providing luxury, exclusivity and flexibility for the discerning property owner and holiday guest, and to create long-lasting partnerships with our agents and hotel operators. We will continue to demonstrate our commitment to the success of Saïdia as the first Government-backed Plan Azur destination to open in Morocco,” comments Sean Cusack, Managing Director of Property Logic.


Media Coverage Property Logic has relationships with a number of media trade contacts and publications to maintain interesting and up-to-date press coverage about Mediterrania Saïdia. These efforts raise the Moroccan destination’s profile on the international stage and ensure its success as a sustainable resort with increased awareness, attracting year-round visitors. Property Logic has hosted key journalists to Mediterrania Saïdia to survey the destination’s progress as a new leading tourism destination.


Celebrity Investors

Amongst the many high profile clients that Property Logic has attracted to Morocco are some of the UK’s finest footballing elite. Premier League England Team players John Terry, Rio Ferdinand and Gary Neville have invested in Le Jardin de Fleur resorts. Rio Ferdinand was hosted by Le Jardin de Fleur to the site of his luxury riad style villa in ‘Le Village des Amis’, which he has named “one of the best spots in the world”. Image: Rio Ferdinand on-site in Mediterrania Saïdia

Founding Partner named Honorary Consul for Morocco

Margus Reinsalu, one of the three founding partners of Property Logic was named Morocco’s honorary consul in Estonia. Margus met the Moroccan Secretary of state Ministry of Foreign Affairs and Cooperation, Mrs. Latifa Akharbach, during her stay in Estonia on the 25th July 2008. According to Margus, cooperation possibilities between Estonia and Morocco as well as the development of business contacts were discussed. Margus said that Estonia would welcome the Moroccan business delegations to introduce them to cooperation and business opportunities in Estonia. “Both the investment protection system between Estonia and Morocco plus contracts to avoid double taxation would definitely boost cooperation,” Margus said.

On 26th July, Morocco’s honorary consul Margus Reinsalu celebrated the Moroccan Enthronement Public Holiday at the Oandu watermill in Virumaa, Estonia with a grand reception and a concert.

The Project: Location & Infrastructure_Section 5

5. Location & Infrastructure

Destination Saïdia: Competitive strengths from the tourism industry perspective Mediterranean - Calmer waters (suitable for bathing) - Excellent for water sports, sailing, diving, fishing (deep sea and surface) - 6 km of beaches (clear turquoise sea and golden sand) - Typical Mediterranean climate – winter sun and perfect summer beach weather Fast transfer time The new motorway connecting Oujda International Airport to Saïdia is a 35 minute drive - a direct, pleasant and convenient way to transport guests to their hotels. Marina The 1,350 berth marina in Mediterrania Saïdia is the third largest leisure port in the Mediterranean, with capacity for berths of up to 50 metres (150 ft). The favourable conditions of the tranquil waters make it an ideal destination for sailing and moorings for visitors from all over the Mediterranean (particularly Spain, France, Italy and Tunisia).

Le Jardin de Fleur resort developments are located in Mediterrania Saïdia, a new tourism destination on the north eastern coast of Morocco. Mediterrania Saïdia is the first of six government-backed coastal resorts that form part of the Plan Azur tourism strategy to bring 10 million annual visitors to the country by 2010. It is a total project of 7 million with a 6 km beachfront. It comprises 17,000 hotel beds and 3,000 accommodation units. Saïdia is situated on Morocco’s north eastern Mediterranean coastline and is a forty minute drive from Oujda International Airport. Located along six kilometres of sandy beaches – this is the area known as the Blue Pearl of Morocco.


Natural Reserve (SIBE) Mediterrania Saïdia has a nature reserve close by with rare and distinctive birdlife. The Moulouya Estuary is a high-value ecological and biological site (SIBE rated), that hosts five distinct habitat zones, (marine, estuarine, dunes, cliffs) and is dominated by portions of gently sloping barrier beach that borders a wetland and marsh area characterised by a land-water continuum. Due to its importance as hub for migrating birds, the presence of many endemic and rare species and the important biodiversity and rich water vegetation, the area fulfils the conditions to become an important bird sanctuary. The wetland here has been declared a protected area, and bird hides and information signboards have been erected along a marked walking path which creates the ideal destination for wildlife lovers.

Resort destination facilities Mediterrania Saïdia will be a complete holiday destination across a total of 700 hectares. Visitors will have, in addition to their hotel facilities, complimentary resort transport to connect them to the following activities within the resort destination of Mediterrania Saidia: 3 golf courses (each with 18 holes), 160 international and designer shops in a pedestrianised Moroccan medina area, supermarket, bars and restaurants in the harbour, 17 beach clubs, sports and convention complex, water sports and nautical centre.

Undiscovered charm The area of Saïdia, located in the Berkane province, is known in Morocco as the best area for beaches (termed locally as the “blue pearl”).

Saïdia town – Government investment The King of Morocco has initiated significant infrastructure improvements to the town of Saïdia located 10 minutes from the resort. What was a former fishing village with a popular annual music festival and 18th century Kasbah is experiencing a complete renovation which will enable it to become one of the closest tourism attractions for visitors to the resort destination a short drive away. This gives added variety for visitors who wish to explore the real Morocco beyond their hotel and resort facilities. In addition, a new hospital is being built in Saïdia town centre which will complement the services offered by the private medical centre on the Mediterrania Saïdia resort.

Safety and Security Because this is a government sponsored destination, much investment will go into the infrastructure, training of staff and security in order to ensure tourism satisfaction. 24 hour security will be organized by the Moroccan authorities in all communal areas in addition to the security within the gated resorts.


Access & Communications Main inbound visitor markets & flight times: Origin Flight time to

nearest Airports of Oujda, Nador and Melilla

London

3 hours

Paris

2 hours

Madrid

1 hour

Rome

3 hours

Frankfurt

3 hours

Due to the 3 hour average flight time from most West European cities, flights to Mediterrania Saïdia’s aiports qualify as short-haul.

Land transfer time from airport to resort: Airport: Transfer time by car to Saïdia resort: Oujda International Airport 35 minutes Nador 1 hour Melilla 1 hour

Sea routes: Frequent daily ferry routes connect southern Spain to Morocco. The shortest distance between the two countries is 17 kilometers and there are several options for visitors to cross the Mediterranean Sea. The closest ferry ports to Saïdia are currently Melilla and Nador. Ferry: Malaga/Almeria to Melilla (Spanish port). (Then, land transfer time 1 hour to Saïdia) Ferry: Almeria to Nador. (Then, land transfer time 1 hour to Saïdia) The fastest sea routes from Spain at present connect the Costa del Sol (Algeciras/ Tarifa) to Tangiers which is 540 km from Saïdia. Eventually this journey time will be cut to one or two hours thanks to a high-speed rail network, “TGV”, which is planned to run via an underwater tunnel in 2011. In addition, private boat crafts can moor at Marina Saïdia.

Land transfer options: • Regular coaches

• Limousines and chauffeur driven vehicles

• Taxi (24 hour service)


Accessibility from other locations within Morocco: The Oriental region of Morocco is conveniently located to give opportunity to combine visits with other key Moroccan destinations:

• The Imperial city of Fez (approximately 4 hour drive from Saïdia) - The imperial city of Meknes is only a further 50 km from Fez - Erfoud (Sahara desert) is only a further 5 hours south of Fez

• Desert Oasis of Figuig (approximately 4.5 hour drive from Saïdia)

Transport Infrastructure Flight routes: Charter The majority of tourism visitors will be able to travel on charter flights from Europe. Scheduled Scheduled flights, including low cost companies, are already operating routes to Oujda Airport from France, Belgium and the Netherlands. The Oujda Airport expansion project will provide capacity for numerous airline routes. Ryanair has commenced a route from Nador to Marseille which connects to several UK & European airports. Royal Air Maroc has also announced plans to commence a route from London Stansted airport to Oujda in 2010. Air Andalus also operates flights to Nador from most Spanish cities, and the airport of Melilla is well served by Iberia.

Airports:

Oujda International Airport The majority of visitors to Mediterrania Saïdia will arrive into the closest airport - Oujda International Airport which is a 35 minute transfer time to Mediterrania Saïdia. Oujda is currently undergoing a large transformation and is set to become the second largest hub in Morocco with well over 2 million passengers.

Nador and Melilla International Airports Also within close proximity to Saïdia are Nador and Melilla (Spanish) airports, with Nador becoming a key hub for new Spanish carrier Air Andalus, and for regular flights out of Amsterdam and Brussels.


Expansion of Oujda International Airport: ONDA (Morocco’s national airport authority) has initiated the development project of Oujda/Angads airport in order to progress in parallel to the future development of the Oriental region of Morocco.

The development of Oujda airport that is currently underway includes: • The construction of a new terminal

(20.000 m²), offering an additional capacity for 2 million passengers per annum

• The construction of a control tower • A parking bay with additional capacity

for 10 planes • New road access with a car park for 800

spaces • Installation of the accesses • Green spaces and trees, external lighting • A new take-off runway

Road infrastructure: A new motorway was opened on the route between Oujda and Saïdia in June 2008 making the journey time by car less than 40 minutes. In addition, construction is underway for a new toll road (320 km) to link Oujda to Fez which will reduce the journey time between these two cities considerably. Morocco has committed $4.4bn to the building of 1500 km of motorways specifically to aid the development of the tourism industry. This also includes the coastal highway or the Mediterranean “rocade” which will link the towns along the northern coastline.

Railway infrastructure: Large investment has been made into a high-speed TGV rail system which will link Nador via a 1,500 km network to Tangiers and Marrakech.

The Project: MasterPlan_Section 6

6. Master Plan Mediterrania Saïdia Le Jardin de Fleur resorts are located in the Master plan of Mediterrania Saïdia – a 7 million m2 coastal destination with 6 km of beaches across the spectacular stretch of coastline known as Morocco’s Blue Pearl, featuring 3 golf courses, a marina, hotels, resorts, shops and restaurants. This is a new generation resort highlighted as Morocco’s exotic Côte d’Azur on the exclusive riviera of the North African Mediterranean coast. Mediterrania Saïdia aims to be the ultimate year-round sports and sun destination with three golf courses and Olympic standard sports installations among the many facilities. To date, the hotel brands that will be present in Mediterrania Saïdia include international chains Barceló, Iberostar and Property Logic’s partners Radisson, Worldhotels, Best Western Premier, Franklyn, Golden Tulip, in addition to Moroccan chains Hivernage, Kenzi and Crystal. The Plan Azur projects form a national tourism strategy that will transform under-developed areas of Morocco into independently operating destinations, thus collectively increasing tourist numbers to 10 million annual visitors by 2010 and creating 600,000 jobs.


The Project Size: 700 hectares Overall Investment: 12 billion MAD (€1 billion) - Within framework of partnership

between State (605 billion MAD), Addoha Maroc (3,7 billion MAD) and other investors/developers (7,7 billion MAD)

Developers: GFM, Property Logic Completion date: Phase 1 opened 2009, final phase 2013 Job creation: 48,000 jobs, 8000 direct Hotel beds: 9 hotel plots (4 and 5 star), 8 touristic residence plots and 12

vacation village plots, creating a total of 17,000 hotel beds* Real estate: 3600 residential units (townhouses, apartments and villas) Golf: 3 courses with 18 holes each, designed by Grupo Segales (the first

managed by Troon Golf) Marina: Third largest leisure port in Mediterranean with 1,350 berths *The Moroccan Authorities granted building licenses for 11 Le Jardin de Fleur developments, making a total of 1,382 properties. This represents over a third of the touristic properties being developed on Mediterrania Saïdia with a total land value of 65 million euros within the 2.5 billion resort project. Property Logic was granted the licenses to build additional residences in order to ensure that the reputable developer maintains a high level of quality and a variety of resort vacation options in this Government-backed coastal destination.

Public Facilities in Mediterrania Saïdia: • 6 km of beautiful sandy beachfront • Promenade with beach clubs • Three 18 hole golf courses • Marina with 1,350 berths • Diving and sailing centre • Water sports & yacht club • Restaurants & bars • First class sports facilities (Olympic swimming pool, football ground, tennis facilities) • Aquatic park (under development) • Moroccan medina with European shopping centre • Nine 4 & 5 star hotels • Polo ground & Equestrian centre (under development) • Medical Centre


Marina Saïdia The newly opened marina in Mediterrania Saïdia is one of the largest leisure ports in the Mediterranean. FIGURES:

• Investment: 540 million DH (€47million)

• Surface area: 25 ha

• Berths: 1350 capable of holding boats from 7m to over 50m � Distance : 32 nautical miles from Melilla, 90 nautical miles from Almería,

average 150 nautical miles from Costa del Sol marinas.

The marina has all the facilities and services needed to repair, restock and refit even the largest ocean going cruisers, and includes a yacht club, nautical centre, water sports facilities, dry docking plus numerous bars, restaurants and a supermarket.


Beach Mediterrania Saïdia’s coastline is known as Morocco’s “Blue Pearl.” The resort features 6 kilometres of sandy beach. The conditions created by the warm tranquil waters are ideal for bathing and water sports. Beach Clubs Several beach clubs will be developed in 2010/11 and a palm tree lined promenade connects the resort of Mediterrania Saïdia to the nearby town of Saïdia.

Golf The master plan features 3 golf courses over 210 ha and each with 18 holes. The first course, “El Palmeral”, designed by Grupo Segales, was officially inaugurated in June 2009 and is being operated by Troon Golf Management.


Commercial centre In the marina area, Mediterrania Saïdia will feature a Moroccan style medina over 20 ha, with pedestrianised streets, squares, fountains, restaurants and over 160 retail outlets including many recognized European brands such as Mango, Vertu, Lacoste, Fauchon, Okaidi, Marionnaud, Charriol, Promod and Marjane.


Build progress Le Jardin de Fleur comprises 11 resort sites within the Mediterrania Saïdia master plan, each strategically chosen for beach and golf views. Phase 1 of the Mediterrania Saïdia master plan was officially opened in June 2009 and includes: - Barceló international 4-star hotel (614 rooms) - Iberostar international 4-star hotel (485 rooms) - El Palmeral Golf course (18 holes) - Marina (1350 berths) - Medina and Commercial Centre - The Best Western Premier Le Jardin de Fleur Resort (126 hotel suites including one and two bedroom apartments and penthouses, clubhouses, restaurant, café-bar, swimming pool, spa) is scheduled to open year end 2010. The remainder of the resorts and master plan facilities including two 18 hole golf courses, and 10 Le Jardin de Fleur hotel operated resorts will have varying openings dates between 2010-2013. Marina Saïdia and Commercial Centre at official opening celebrations

The Project: Business Model_Section 7

7. Business Model The travel industry is witnessing great demand for added luxuries such as private dining and swimming pools to enjoy with family and friends. Le Jardin de Fleur’s client-centric approach meets these needs with a wide range of high standard and fully-serviced on-site lifestyle facilities. The concept behind Le Jardin de Fleur is to provide the investor with luxury, flexibility and exclusivity. Investors can choose to purchase a freehold property to use as a vacation home, a retirement property or simply to enjoy the returns from a fully maintained holiday home in a prime tourism destination. Villas, apartments and townhouses form a total of 1,382 units that make up the 11 resorts, with investors able to enjoy 8 weeks at their property each year whilst also receiving a share of the rental income for the rest of the year.

Tourism Leaseback Concept Morocco is seen as a great value alternative in an emerging luxury tourist destination with ideal winter and summer sun. Most property buyers are attracted by Le Jardin de Fleur’s investment potential, the conclusive destination location and facilities and good rental returns. Le Jardin de Fleur caters to these needs by including a leaseback agreement where the investor is offered a high quality freehold property that is managed and rented out to tourism guests by the appointed resort hotel operator. The properties are entered into a rental pool that generates hotel revenue streams and this rental profit is maximised by the appointment of top range hotel operators to manage the resorts.

Hivernage Resort & Spa - 76 Villas (VVT-11)

Jardins Botaniques - 96 Residences (VVT-12)

Crystal Resort Saïdia – 50 Townhouses (VVT-5)

Tulip Residences – 234 Residences (RT-7)

Best Western Premier – 126 Suites (RT-2)

Grandes Villas – 25 Villas (VVT-4)

Radisson Resort & Spa – 250 Hotel Suites (RT-6)

Kenzi Premium Resort – 59 Villas (VVT-7)

Radisson Residences - 97 Villas (VVT-6) Village de Golf –

120 Villas (VVT-8) Village de Sport – 233 Golf Residences (VVT-9)


Property Sales Since launching in 2005, Le Jardin de Fleur has attracted over 600 owners who have invested in the resorts. Le Jardin de Fleur appeals to those attracted by the prospect of investing in an upscale resort within close reach of Europe. The accommodation ranges from a one bedroom apartment to a five bedroom villa in some of the best beach or golf locations. Prices range from €92,000 ($117,000) for a one-bedroom hotel suite, €197,000 ($251,000) for a two-bedroom beach apartment rising to €988,000 ($1.26 million) for a five-bedroom frontline golf villa. Whichever investment option is chosen, owners are in the exciting position of being part of a well planned tourism strategy. More information: www.lejardindefleur.com

Common facilities and hotel infrastructure Each resort has an on-site clubhouse and facilities managed by the hotel operator Resort guests and property owners have exclusive access to the on-site facilities within their resort community: - Moroccan style Clubhouses with bar - International restaurant in each resort - Spa and swimming pools - Personal catering, housekeeping & concierge services for sightseeing/transfers etc. - Daily Entertainment programmes

Clubhouses

Facilities include

• Restaurants

• Bars

• Outdoor lagoon pools

• Kids pools

• Indoor pools

• Aqua Park

• Spas

• Gymnasiums

• Tennis

• Putting Greens

• Entertainment

BEST WESTERN

PREMIER (RT-2) GRANDES VILLAS

(VVT-4)

CRYSTAL (VVT-5) TULIP RESIDENCES

(RT-7) GOLF VILLAS (VVT-8)

KENZI PREMIUM

(VVT-7 VILLAS) RADISSON RESIDENCES (VVT-6)

VILLAGE DU SPORT

(VVT-9) HIVERNAGE (VVT-11) RADISSON RESORT

& SPA (RT-6)


Interior design packages A full furniture package is provided and maintained by Le Jardin de Fleur. Under the leaseback programme, the property is managed like a hotel with daily cleaning and maintenance services. The interior packages are inspired by a modern Moroccan theme with an emphasis on luxury and comfort. All units feature kitchens with appliances, air-conditioning, marble flooring, satellite TV, internet, furnishings & Moroccan Interiors. All properties are subject to a 10 year construction guarantee and follow European building standards.

Payment terms Clients can reserve a property off-plan with an initial deposit and then visit the site before making the final purchase decision. On signing the contract, a payment of 20% is made, followed by a second payment of 20% once construction commences. When construction is finished, the buyer completes the purchase of the property at a notary with the remaining 60%. Property Logic facilitates this process by recommending partner mortgage and legal advisors specialised in the Moroccan property market.


Hotel Operations To date, Property Logic has agreed the following management contracts for Le Jardin de Fleur resorts in Saïdia. A selection of international and domestic quality brands will provide international four and five star standard.

*Subject to contract*


RADISSON RESORT & SPA SAÏDIA

In June 2008 the Rezidor Group selected Saïdia for its first entry into the Moroccan market. In a joint partnership with Property Logic the Radisson brand will be responsible for the operation of two of the resorts that Property Logic is constructing. Located in plots RT-6 and VVT-6 of the master plan and in a beachfront position, the Radisson Resort & Spa and the Radisson Residences will include the following features:

• 400 rooms and 97 villa residences • 4 restaurants & 3 bars • 5 outdoor pools & 1 indoor pool • 1 fitness centre • Kids club • Shops • Tennis courts • Amphitheatre • Moroccan-themed Spa/ Thalasso centre • Meeting and conference facilities • 48,697 m² area • Opening date: 2011

About the Rezidor Group “With this signing we are adding a new and emerging country to our pipeline and are now present in 53 countries across EMEA”, comments Kurt Ritter, President & CEO of Rezidor. “In the Middle East and Africa we now have 47 hotels with almost 11,500 rooms in operation and under development – a clear sign for our commitment to this region.” A benchmark for the Radisson Saïdia is the Radisson Hotel in Djerba, Tunisia. The Rezidor Hotel Group is one of the fastest growing hotel companies in the world. The group features a portfolio of over 330 hotels in operation and under development with more than 68,000 rooms in 53 countries. Rezidor operates the brands Radisson SAS Hotels & Resorts, Regent Hotels & Resorts, Park Inn and Country Inns & Suites in Europe, Middle East and Africa, along with the goldpoints plusSM loyalty programme for frequent hotel guests. In November 2006, Rezidor was listed on the Stockholm Stock Exchange. Carlson Companies is the largest shareholder (42%). The Corporate Office of the Rezidor Hotel Group is based in Brussels, Belgium. For more information on Rezidor, visit www.rezidor.com

Signature quote "We are delighted to partner with such an important international brand as Radisson because of its outstanding quality and services that are renowned in the industry. Our companies share a common vision for luxury standards that will make the Saïdia resort a world class tourism destination,” said Joop Huisman, Managing Director of Property Logic.

From left to right: Romain Avril, Business Development Manager of Rezidor, Kurt Ritter, President & CEO of Rezidor, Joop Huisman, Managing Director of Property Logic and David Woodward, Director Hotel & Commercial Operations of Property Logic


BEST WESTERN PREMIER LE JARDIN DE FLEUR RESORT, SAÏDIA

In September 2008, the Best Western Hotel Group announced Saïdia as the first location to pilot its superior Best Western Premier brand. The resort is also the first Premier level Best Western in Moroccan market. Located in plot RT-2 next to the Palmeral 18-hole golf course and within minutes walk to the beach, the Le Jardin de Fleur’s premier resort will feature:

• 126 residences • 528 beds • Clubhouse/ lobby • Café-bar • Outdoor lagoon pool • Kids club • Spa • Landscaped gardens • 41,834 m² area • Opening date: 2010

“The Best Western Premier hotel brand was launched to provide a higher level of service and amenities together with a characterful dimension. This resort will add to a network of more than 100 Best Western Premier hotels currently located throughout Europe and Asia. We are very proud to be part of the development of the Saïdia resort project, one of the major plans to develop tourism in the country” said Stephane Cremel, Director of Development for Best Western in Morocco. “This will be the first Best Western Premier resort to open in Saïdia and we have chosen to partner with a hotel operator with a powerful global marketing and reservations network. Best Western Premier is the upper-scale brand of the world’s strongest hotel brand and we believe it will enable the Saïdia destination to maximize on opportunities in the ever growing short-stay and longer-stay leisure markets,” said David Woodward, Director of Hotel and Commercial Operations for Property Logic, the developer behind Le Jardin de Fleur resorts in Morocco. About the Best Western Group Best Western International is THE WORLD'S LARGEST HOTEL CHAIN®, providing marketing, reservations and operational support to over 4,000 independently owned and operated member hotels in 80 countries and territories worldwide. An industry pioneer since 1946, Best Western has grown into an iconic brand that hosts 400,000 worldwide guests each night. Best Western France is affiliated to Best Western International with 280 hotels all over France. Best Western France is also responsible for marketing hotels in some of the most important Moroccan cities and destination. For more information, please visit www.bestwestern.com or www.bestwestern.fr About Best Western Premier® Founded in 2004, Best Western Premier is Best Western International’s top of the range brand. It includes 101 four and five-star hotels around the world, chiefly in Europe and Asia, 15 of which are situated in mainland France and the French overseas territories, with a capacity ranging from 12 to 300 bedrooms. All independent and very different, these hotels are full of character and offer guests a unique art de vivre at each destination while at the same time providing the same high levels of comfort throughout the world. Their architecture, design and hospitality are all influenced by their strong roots, firmly anchored in the local identity of a country or region and often dating back several centuries. For more information about Best Western Premier®, please go to www.bestwesternpremier.com


HIVERNAGE RESORT & SPA SAÏDIA

In September 2008, the Marrakech based boutique hotel chain, Hivernage Hotel Group announced its partnership agreement with Property Logic for the management of its second resort in Morocco, to be located in Saïdia. Located in plot VVT-11 of the master plan, the Hivernage resort will enjoy a tranquil beach and golf position and includes the following features:

• 76 villa residences • 452 beds • Restaurants & bar • Outdoor lagoon pools • Indoor pool • Fitness centre • Kids club • Tennis courts • Moroccan-themed Spa • 55,129 m² area • Opening date: 2012

“We are developing a total of 11 individually-styled resorts that offer full hotel service operated leaseback properties in Le Jardin de Fleur Saïdia. We are currently in the process of finalizing management contracts with additional international and Moroccan hotel brands that will make Saïdia a top quality tourism destination,” comments David Woodward, Director of Hotel and Commercial Operations for Property Logic, the developer behind Le Jardin de Fleur resorts in Morocco. About the Hivernage Hotel Group Hivernage Hotels & Spa Group of Marrakech includes, via its holding company, the first luxury boutique hotel, the Hivernage Hotel & Spa of Marrakech, as well as three new top luxury projects which are located in Marrakech. At the Hivernage, contemporary design is blended with traditional Moroccan handicrafts. For more information visit www.hivernage-hotel.com


TULIP RESIDENCES, SAÏDIA

STARWOOD Capital Group Global, through subsidiary Golden Tulip Hospitality signed a management contract with Property Logic for its Tulip Residences resort, representing more than 780 hotels and 75.000 rooms in more than 50 countries. The Group franchises and manages hotels in Europe, the Middle East & Africa, the Asian Pacific Region and the Americas. In 2006, Hotels Magazine has ranked this company the 18th largest hotel chain. The chain was acquired by Starwood Capital Group in 2009. Tulip Residences Saïdia is comprised of:

• 234 spacious residences • Ranging from 2 to 4 bedrooms • 1000 beds • Fully serviced & equipped with home-

like comforts. • Moroccan-style Clubhouse • 2 lagoon pools & 1 outdoor heated

pool • Landscaped gardens • Themed restaurant & café-bar • Tennis courts • Amphitheatre for family

entertainment • 72.,075 m² area • Opening date: 2011

Tulip Residences are an ideal alternative to hotel rooms as they offer the leisure traveller fully-serviced, tastefully furnished properties that combine luxury and elegance with all the home-like comforts and services you could wish for. Saïdia was chosen as the location to launch the first Tulip Residences concept outside Europe due to its immense potential. About Golden Tulip The Golden Tulip provides services in categories with different standards. Tulip Inn provides limited-service first-class category rooms in functional hotels, Golden Tulip and Tulip Residences are the brands for the Superior First-Class service with international standards of comfort and a local flavour. For more information visit: www.goldentulip.com About Tulip Residences Following the continuous growth in demand in Europe for extended stay hotels, Golden Tulip Hospitality Group announced the launch of its new extended-stay brand concept in June 2008; “Tulip Residences” offers guests an experience of home-like comforts. The interior offerings of Tulip Residences are based on elements of luxury and elegance. Tastefully residences are equipped with high-definition televisions, free Wi-Fi connection, en suite bathrooms and a fully equipped kitchen facility.


CRYSTAL HOTEL SAÏDIA

In February 2009, the SAKA Hospitality Group signs a management contract with the developer Property Logic for the “Crystal Hotel Saïdia” project in Le Jardin de Fleur Saïdia. Crystal Hotel Saïdia is comprised of:

• 50 Crystal Resort Residences with private sunroof and pool • Each residence has 2 storeys + roof • Each residence has 3 bedrooms • Total of 266 beds • Fully serviced & equipped with modern home-like comforts • Moroccan-style Clubhouse • Outdoor lagoon pool • Landscaped gardens • Gourmet restaurant & café-bar • Tennis court • Putting green • Petanque • 34.420 m² area • Opening date: 2012

Saad Kabbaj, President & General Manager of SAKA Hospitality comments: “We have chosen Saïdia as part of our expansion plans, as we see huge potential in this destination to open our distribution to wider markets. The Crystal Hotel in Saïdia will offer stylish hotel residences with private rooftop pools, solariums and cascading fountains in addition to all the modern comforts of a five star resort. We are pleased to be partnering with Property Logic and believe that Saïdia is the ideal destination to expand our exciting new venture.” About SAKA Hospitality The Managing Director of SAKA Hospitality, Mr. Saad Kabbaj is owner of the Pacha entertainment franchise in Morocco with its renovated nightclub, restaurant and hotel complex Pacha Marrakech. The Pacha Marrakech complex is built over 8000 square metres. It includes two restaurants, a pool, chill out bar and nightclub that holds up to 2300 people plus a host of world famous DJs, in addition to the brand new Crystal Suites hotel & ball room complex. The Crystal Restaurant boasts cuisine by Jacques & Laurent Pourcet. For more information please visit: www.pachamarrakech.com


KENZI PREMIUM RESORT SAÏDIA

The Kenzi Group has signed a management contract with the developer Property Logic for the “Kenzi Premium” project in Le Jardin de Fleur Saïdia. Kenzi Premium Resort Saïdia is comprised of:

• 59 large riad-style villas with private pools • Each on a plot size ranging from 800-

1000m2 • Each villa has 3 - 5 bedrooms • Total of 470 beds • Fully serviced & equipped with modern

home-like comforts • Lagoon swimming pool and children’s pools • Clubhouse • Restaurant and bar • Spa • Tennis courts • Putting green • Area: 78.344 m² • Opening date: 2011

Abdellatif Kabbaj, President & Managing Director of the Kenzi hotels Group comments: “Kenzi Group has decided to be present in the Saïdia project and will open a luxury hotel with unique character. The fact that Property Logic - a European developer has chosen a 100% Moroccan Management Company for its flagship project in Morocco is a vote of confidence for the Moroccan tourism sector.” About the Kenzi Hotel Group Created in 1988, the Kenzi Group comprises today ten 4* and 5* hotels, with a total of 1564 rooms. This development has made the group a leading Moroccan hotel operator. Spa centres, restaurants, bars, business centres among many other services, have made the Kenzi Hotel Chain leader in Moroccan tourism and have embellished its reputation. In 2009, Kenzi Hotels Group will open two Premium Signature properties. The 1st March 2009 saw the opening of the five star Kenzi Tower Hotel in Casablanca and the Kenzi Menara Palace in Marrakech, which marked the introduction of a world class luxury brand of this hotel chain. For more information, please visit www.kenzi-hotels.com


WORLD HOTELS, HomeSuites (Village de Golf Villas)

In June 2009, WORLDHOTELS signed a management contract for one of Le Jardin de Fleur’s golf villas developments. Under WORLDHOTELS management the resort is comprised of:

• 120 golf villas with private pools • Each on a plot size ranging from

400-700m2 • Each villa has 3 bedrooms • Total of 480 beds • Fully serviced & equipped with modern

home-like comforts • Lagoon swimming pool and heated

indoor pool • Clubhouse • Restaurant and bar • Gymnasium • Tennis courts • Petanque • Area: 73.810 m² • Opening date: 2011 •

Robert Hornman, Vice President at WORLDHOTELS, comments on the partnership: “This agreement with Property Logic marks an exciting new era for WORLDHOTELS. We already have a very strong presence in Europe with 500 affiliated hotels and resorts throughout the world. It therefore makes natural sense for WORLDHOTELS to sign management and marketing agreements with international developers, such as Property Logic.” About WORLDHOTELS WORLDHOTELS is an exclusive collection of the world's most unique independent hotels and resorts. For nearly 40 years, the company's mission has been to offer business and leisure travellers easy access to a wide range of accommodation options with a strong emphasis on hotels of character and distinction. WORLDHOTELS.HomeSuites comprises a global network of 43 vacation, resort and city residences with full hotel facilities. www.worldhotels.com


FRANKLYN SUITES, SAÏDIA (LES GRANDES VILLAS RESORT)

In December 2009, Franklyn Hotels and Resorts, the leisure and hospitality arm of KOP group, signed a management agreement with Property Logic to operate two Le Jardin de Fleur developments. The first development to be managed by Franklyn Hotels and Resorts, ‘Les Grandes Villas’ is located close to the 1,350 berth marina and El Palmeral Golf, and will be operated under the “Franklyn Suites” brand. The boutique resort will open in 2011 and features:

• 25 unique villas • 208 beds • Clubhouse • Restaurant • Café-bar • Outdoor pool • Indoor pool • Putting green • Tennis • Petanque • Landscaped gardens • 41.687 m² area • Opening date: 2011

MONTIGO RESORT, SAÏDIA (LE VILLAGE DE SPORT)

The second resort to be operated by Franklyn Hotels and Resorts under the “Montigo Resorts” brand is ‘Le Village de Sport’ located by Las Lagunas Golf and Mediterrania Saïdia’s world class sports complex. The development features:

• 236 apartments, townhouses & villas

• 850 beds • Clubhouse • Restaurant • Café-bar • Outdoor lagoon pools • Indoor pool • Putting & chipping green • Tennis Club • Petanque • Gym • Aqua park • Landscaped gardens • 131.462 m² area • Opening date: 2011


Dean Schreiber, Managing Director of Franklyn Hotels and Resorts comments: “We are excited to be part of the prestigious Le Jardin de Fleur development, as Saïdia is one of the most desirable locations in the southern Mediterranean, with immense potential for the luxury tourism market. Franklyn Hotels and Resorts is proud to operate a unique collection of hotels which delight the senses and aspirations of our guests. We have chosen Saïdia for its location and the quality of the properties developed by Property Logic. Saïdia is positioning itself as the best coastal resort in Morocco and is set to become one of the greatest tourist locations in southern Europe. The white sandy beaches are superb, the sea is crystal blue in absolutely beautiful surroundings, and the location on the Mediterranean coast of Morocco offers good weather virtually all year round.” About the Franklyn Hotels and Resorts: Franklyn Hotels and Resorts specialises in the management of small luxury lifestyle hotels worldwide offering a full portfolio of management services and a dedicated team of industry experts. Their philosophy is to combine the very best elements of the luxury lifestyle with the conveniences of the modern world in order to create an atmosphere of relaxed sophistication and subtle elegance. The hotels are characterised by spacious properties (25 to 160 rooms) with charming architecture and design, spectacular locations, and in many cases emblematic and historic buildings regarded as local landmarks ( Port Palace Monaco, Casa Angelina Amalfi coast in Italy, and Cadogan London). Franklyn Hotels and Resorts was established as the Leisure and Hospitality division of the KOP Group. Through its various subsidiaries, the KOP Group acquires, develops and manages an entire range of real estate assets and services relating to the hospitality industry. Headquartered in Singapore and with a global presence in Barcelona, London, Paris and Berlin, KOP Hotels & Resorts is acknowledged as one of the world’s most comprehensive luxury management service groups of today. Franklyn’s portfolio of hotels will grow to 25 by 2013 and will be located in some of the world’s most exclusive destinations spanning Europe, Africa and Asia. Among its brands are Montigo Resorts and Luxury Lifestyle Hotels and Resorts. For more information about Franklyn Hotels and Resorts, please visit www.Franklynhotels.com For more information about the KOP group, please visit www.kopgroup.com

Le Jardin de Fleur, Morocco

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Transcript of Le Jardin de Fleur, Morocco