Emaar Misr - Launching a New Phase

Emaar Misr
Delivering integrated lifestyle communities
March 2015
A premium, diversified developer in the heart of Egypt
Company snapshot
Key metrics
 Commenced operations in 2005 as a JV between
Emaar Properties and a local partner, the latter being
fully bought out in 2007
 Fully owned subsidiary of Emaar Properties
15.5 mm sqm
6.2 mm sqm
Land bank
GIFA under development
1.8 mm sqm
EGP21.9bn
GIFA sold
Cumulative net sales
since inception
since inception
 A leading developer of premium master planned
lifestyle communities in Egypt
 Prime locations with unique landmarks
 Capabilities across all segments of the real estate
sector in Egypt. Management’s current development
plans encompass:
 Targeting more than 250 k sqm1 of retail gross
leasable area
EGP10.1bn
 Targeting more than 150 k
leasable area
sqm1
of office gross
Cumulative collections
since inception
414
Employees
 Targeting more than 4 k1 hotels keys, serviced
and branded apartments
Note: All data of December 31, 2014; GIFA: Gross internal floor area; The development plans are subject to change. No assurance can be given that current plans will be consistent with product mix actually being launched in the future
Note (1): Approximate based on management plan
2
Sizeable footprint across 4 desirable locations
North Coast
West Cairo
1
East
Cairo
6.5 mm sqm total land area
3.8 mm sqm total land area
Cairo Gate 1
0.7 mm sqm total land area
Note: Pictures are rendered images
4.5 mm sqm total land area
Master plans under development
3
Three established projects plus one identified pipeline
site
A
B
Location
C
Mokattam
Location – merits
 Scarce, sizeable plot, in a
prime location in the heart of
Cairo
 Easy accessibility makes it
potentially a new city center
D Cairo Gate
North Coast
 Sizeable project in an
attractive spot on coastline
 Int’l marina makes it a
unique destination in
the region
New Cairo
6th of October
 Located in a central area
in East Cairo
 Well-located plot on Cairo-
Alexandria desert road
 Easily accessible with
close proximity to key
destinations
 Scarcity of plots in such
area makes a unique value
proposition
Total land area (Sqm)
4.5 mm
6.5 mm
3.8 mm
0.7 mm
Construction commenced
2007
2008
2009
Master planning phase
2026
2024
2021
--
Target completion date
Office
Others
Office
Hospitality
Others
Hospitality
Hospitality
Retail
Illustrative GIFA
Retail
Retail
Split1
Residential
--
Residential
Residential
Total: 2.0 mm sqm
Total: 2.6 mm sqm
Land bank paid


Largely paid

Net sales since inception (EGPbn)
4.4
9.0
8.5
--
Cumulative collections as % of
cumulative sales
44.5%
55.1%
37.4%
--
Note: As of December 31, 2014
Note (1): Approximate based on management plan
Note (2): Fully paid except for the portion of land under negotiation
Total: 1.6 mm sqm
2
Master plans under development
4
A
Uptown Cairo – The “Centre of Now” in Cairo
Scarce, Prime Location and Improved
Accessibility
Highest View in Cairo
Premium Facilities and Amenities
World Class Architecture and Design
Quality
Net sales to date (EGPmm)
Annual new net sales
Cumulative net sales
93%
4,372
50%
94%
2,797
512%
1,981
1,154
2010
Cumulative units
delivered
xx%
816
545
282
46
1,575
1,436
2011
2012
2013
2014
75
157
262
Annual growth of net new sales
Note: All data as of December 31, 2014
5
A
Emaar Square – A New Iconic City Centre and
Landmark Destination
Emaar Square key metrics
 Location: North Eastern area of Uptown Cairo
 Designer: RTKL
Indicative GIFA split2
Office
 Expected opening: 2021
 Expected completion: 2024
 Hotels planned: 2 Hotels1
Retail
Residential
Strategic location, accessibility, infrastructure and quality design
Note: All data as of December 31, 2014; GIFA: Gross internal floor area; Pictures are rendered images
Note (1): Management plan
Note (2): Excluding Hospitality segment; approximate based on management plan
6
Marassi
B
Unique and Strategically Located Project
First Year-round Resort Community
World-class Facilities and Amenities
Premium Product Offerings
Net sales to date (EGPmm)
Annual net new sales
Cumulative net sales
9,014
120%
3,920
4,294
(25%)
5,250
156%
6,425
23%
2,589
501
Cumulative units
delivered
xx%
1,175
957
374
2010
2011
2012
2013
100
319
528
703
2014
1,011
Annual growth of net new sales
Note: All data as of December 31, 2014
7
B
The Marina - The luxurious yacht club on the
Southern Mediterranean
Marina key metrics
 Location: North Coast
Indicative GIFA split2
Retail
 Expected Completion date: 2024
 Hotels planned: 4 Hotels1
Residential
A world-class year round international tourism destination
Note: All data as of December 31, 2014; GIFA: Gross internal floor area; Pictures are rendered images
Note (1): Management plan
Note (2): Excluding Hospitality segment; approximate based on management plan
8
C
Mivida
Green & Sustainable Community
Centrally Located
World Class Architecture and Quality
Premium Facilities & Amenities
Net sales to date (EGPmm)
Annual net new sales
Cumulative net sales
8,466
37%
23%
5,499
163%
3,330
17%
893
575
2010
Cumulative units delivered
xx%
1,565
671
2011
1,765
2012
1
2,967
2,169
2013
2014
314
Annual growth of net new sales
Note: All data as of December 31, 2014
Note (1): Residential unit deliveries only. In 2012, 4.7 k sqm of office area were delivered in addition 4.7 k sqm of office area delivered in 2014
9
C
Mivida Downtown - A New Hub For East Cairo
Mivida downtown key metrics
 Location: East Cairo
 Designer: JZMK
Indicative GIFA split2
Residential
Retail
 Expected Completion date: 2021
 Hotels planned: 1 Business Hotel1
Office
Eco-friendly urban community in the heart of the New Cairo City
Note: All data as of December 31, 2014; GIFA: Gross internal floor area; Pictures are rendered images
Note (1): Management plan
Note (2): Excluding Hospitality segment; approximate based on management plan
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D
Cairo Gate
Perspective on the development
Note: Picture is a rendered image
 Potential fully integrated master planned development located in West Cairo
 Land plot area of 0.7 mm sqm with frontage of the Cairo –Alexandria Desert highway
 Currently in master planning phase
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Plan to retain majority of commercial assets: medium
term generation of attractive recurring cash flow
Drivers
Snapshot
Key highlights
Retail
Office
Hospitality
 UTC – 2 Hotels (including The
Address)
 UTC – Emaar Square retail area
 Mivida – Downtown Mall
 Marassi – Marassi MPorium
UTC Retail
Marassi Retail
Mivida Retail
 UTC – Emaar Square Business park
 Mivida – 1 Business hotel
 Mivida – The Mivida Business Park
 Marassi – 8 anchor hotels (including
the golf hotel), 2 boutique hotels and
serviced apartments
UTC Office
Mivida Office
 Providing quality retail space in an
underpenetrated market
 Retain iconic offices with international
tenants
 Leverage the operating experience of
Emaar Malls Group
 Stimulate demand for residential
component of projects
UTC Hotel
Marina Hotel
Mivida Hotel
 Management of resort community
 Provide premium quality offerings
 Retain quality control on communities
 Revenue stream diversification
 Cash flow optimization with sustainable rental income
Note: Pictures are rendered images
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Proven resilience and profitability
No. of units sold1
Annual
Net sales (EGPbn)
Annual
Cumulative
Robust sales
momentum
21.9
6,206
14.7
4,557
2,153
1,699
454
334
2010
2011
3,222
2012
2013
2010
2014
2011
Annual
7.1
4.2
3.3
1.3
1.1
10.6
7.3
6.0
1,649
1,335
1,069
No. of units delivered1
2012
2013
Cumulative
860
603
100
100
2010
219
319
2011
284
2012
2.6
1.2
727
0.8
257
2013
2014
2012
2013
Gross margin
34.5%
10.1
1.1
2013
Cumulative
29.8%
2014
2010
0.6
2011
7.1
5.5
4.6
3.9
2012
2014
Collections (EGPbn)
Annual
28.1%
2014
Revenues (EGPbn)
1,587
Continued
delivery of
units
Resilient
profitability
and
collections
Cumulative
1.0
2012
1.6
2013
3.0
2014
Note: All data as of December 31, 2014 based on IFRS financials; Outstanding debt of EGP821mm which includes interest bearing loans and borrowings and borrowings from related parties based on IFRS financials (excluding land purchase liabilities of 802mm)
Note (1): Residential units only, excludes office space delivered / sold in Mivida
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