Multiplan-FR-Shopping-Jundiai-20080909-Eng by usmanjee123



        OF JUNDIAÍSHOPPING, A 34,575 sq.m.
               MIXED-USE PROJECT                                                                                                       Highlights
                                Rio de Janeiro, September 9th 2008                                                            Ownership:100%
          Multiplan Empreendimentos Imobiliários (Bovespa: MULT3)
      announces the development of JundiaíShopping, on Avenida 9 de                                                        Total GLA: 34,575 sq.m.
      Julho, in Jundiaí, São Paulo. The shopping center, in its first stage, will                                           Capex: R$191.4 million
      have 34,575 sq.m. of gross leasable area (GLA), 193 stores and
      2,079 parking slots. Multiplan will own a 100% share of the mall                                                    Key Money: R$20.3 million
      and will manage it. Total investments are estimated at R$191.4
      million and the project’s unleveraged real internal rate of return is                                               NOI 1st Yr: R$20.4 million
      expected to exceed 18% p.a..                                                                                        NOI 3rd Yr: R$25.9 million
          The company has been approached by key tenants since the
      announcement of the land acquisition and will now start the leasing                                                 Consumers¹: Upper/middle
      process. The opening is scheduled for November 2010.                                                                          class
           The project will follow the company’s strategy of building mixed-
      use projects, including in its master plan two office towers and a                                                                 Location
      expansion with over 13,000 sq.m. of GLA for future launching.
                                                                                                                                   City: Jundiaí
           The city of Jundiaí has the 25th largest GDP* in Brazil and is
      situated only 60km from the state capital, São Paulo. The land is                                                        Population²: 333,000
      located in a privileged area, at a very easy-access region, in one                                                      GDP/Capita²: R$29,541
      of the busiest parts of the city.                                                                                        Peers in area3: 0/1/0
                                                                                  *Source: IBGE/2005

          Preliminary design of JundiaíShopping

                                                                                                                      The Land is situated in the middle of Jundiaí city and
                                                                                                                      attached to one of the main avenues (Ave. 9 de Julho) of
                                                                                                                      the city
                                                                                                                      1 – Target: According to IBGE Income Class Segmentation
                                                                                                                      2 – Source: IBGE/2005
                                                                                                                      3 – Considering only shopping centers with 15,000 sq. m.
          Mixed- Use Project: Preliminary view of JundiaíShopping and the office towers.                              or over at the primary (< 5 min)/ secondary (5 - 10 min) /
                                                                                                                      tertiary (10 - 15 min) area.

    Disclaimer                                                                                                            Contact
                      The following rationale was used to calculate the project’s feasibility:
The cost of the project (capex) is based on the estimated construction cost of satellite, anchor and food stores,          Armando d’Almeida Neto
 mall, rest rooms, parking lot and service outlets. These estimates were evaluated by the company’s technical            CFO and Investors Relation Officer
 department. For the purpose of evaluating project capex, these costs are not reduced by key money revenue.
    Operating revenue was estimated based on different rents per sq.m. for satellite stores, anchor stores,
restaurants, fast-food stores, service outlets and leisure facilities. Leasing contract pricing were evaluated on a
                                                                                                                            Tel.: +55 (21) 3031-5224
            case-by-case basis by our team of specialized brokers, based on a planned mix of stores.                        Fax: +55 (21) 3031-5322
  The model uses a 10-year cash flow, with real annual growth of 2% after the fifth year and perpetuity with              E-mail:
 equal growth after the end of the period, figures are subject to review and are designed to give a preliminary
                                             view of the project only.

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