Material Fact MULTIPLAN ANNOUNCES THE DEVELOPMENT 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: firstname.lastname@example.org equal growth after the end of the period, figures are subject to review and are designed to give a preliminary http://www.multiplan.com.br/ri view of the project only.
Pages to are hidden for
"Multiplan-FR-Shopping-Jundiai-20080909-Eng"Please download to view full document