Strategic Plan to apply for a revolving loan of US$: 2.5 – 3.0 Million in order to buy land and build on it a residential building (apartments) and commercial building (offices) for renting / selling purpose.
This cycle shall continue on project to project basis that is why we need to apply for a revolving loan.
Our past record shows that we have successfully with profitability completed (sold/rented 100%) various projects such as:
• Suha Plaza I (6 Storied Residential Building in Adliya – 24 Apartments)
• Suha Plaza II (10 Storied Residential Building in Juffair – 32 Apartments)
• Seef Vista (10 Storied Residential Building in Seef – 19 Apartments)
• Seef Views (10 Storied Residential Building in Seef – 19 Apartments)
• Marine Heights (30 Storied Residential Building in Juffair – 104 Apartments)
• Business Bay (20 Storied Commercial Building in Juffair – 60 Offices)
• Juffair Sky Views (30 Storied Residential Building in Juffair – 90 Apartments)
• Marina Tower (20 Storied Residential Building in Juffair – 45 Apartments)
• Sunshine Tower (15 Storied Residential Building in Hoora – 40 Apartments)
• ASDC Headquarters in Adliya (5 Storied Commercial Building in Adliya – Offices)
The new Project Value / Cost: US$: 2.5 – 3.0 Million.
Pay back plan to be provided to the bank. We may sell the apartments / offices individually or sell the whole project or rent the whole project.
Our contribution / investment in the project. (25%)
We are ready to put collateral with the bank.
Our Assets Value (Cost) = Approx. US$: 13 Million. Our Assets Value (Market) = Approx. US$: 20 Million
We do not want to approach other banks as we are having good relation with the Bank of Bahrain and Kuwait.
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