ZANTE REAL ESTATE INVESTEMENTS
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Projects’ Description and Investment Appraisal1
1 EXECUTIVE SUMMARY
The company ‘RESPOND HELLAS KTIMATIKI EPE’ was formed and registered in 2004 inAthens, Greece for the sole purposes of land development construction in Zante (Zakynthos).The company intents to sell its shares to prospective strategic investors, at an amount of €3,500,000, who will got hold of company’s land and planned projects in order to develop and manage (based on different proposed income scenarios) the projects of Keri Panorama, Lithakia Hills, Laganas-Mouzaki and Lithakia 2. After the acquisition of the company, the buyer will have three ways to exploit the projects:
1. Build and sale
2. Build and rent on a long term basis (usually on an annually basis)
3. Build and rent on a short term basis (usually on a weekly or 15-day basis
.2.OVERVIEW OF PROJECTS
Zante is one of the largest islands in the Ionian sea with a length of 40km and a width of a 20km.It has been praised by both Greek and foreign travelers alike for its stunningly beautiful landscape which captivates you with its beautiful flowers, turquoise waters and superb beaches.
Zakynthos town is situated approximately ten minutes from the airport, and offers a Venetian style, with local atmosphere. It sports a long esplanade, harbour, the square with its numerous coffee-shops and wide variety of shops.
On the south-east coast you will find the beautiful beaches of Laganas and Kalamaki combined with lively night life. To the north-west you will been trance by the small local villages and landscape of outstanding natural beauty. A particularly beautiful area for nature lovers with its steep cliffs, hidden beaches and numerous olive groves.
The company owns a number of plots in Zante, in which the company intent to proceed with the development of penthouse villas and houses. In some areas the development have already started.
The total construction cost of the project is estimated to be €3,946,639 (net of VAT and inflation).he total construction cost of the projects including inflation is estimated to be €4,025,571. 60% of the total costs of the projects will take place in the first year and 40% the year after.
The projects are described below together with an estimation of the construction cost for each project separately:
2.1 Keri Panorama
The complex consist of 14 3-bedroom penthouse villas (with building government license and pool license) 135m2 inside area and swimming pool 4×8 m2, for each villa. The complex issituated behind Keri Lake, which is one of the most beautiful areas of Zante. Each villa will be built in a plot of 1,200 m2 and each will include a 200 m2 patios, either with natural stone or stamped concrete, and 150 m2 green grass.
Land Planning of Keri Panorama project
There are two proposed types of villas, the two floor villas or the ground floor villas, that will be constructed with high standards technical specifications and high quality building materials. Both types include three (3) en-suite bedrooms, satellite antenna, alarm system with wireless cameras and other luxurious facilities.
Two floor Villas
Ground Floor Villas
2.2 Lithakia Hills
The complex consist of 3 2-bedroom villas (with building government license and pool license) 100 m2 inside area and swimming pool 4×8 m2 for each villa. Each villa has a panoramic viewand will be built in a plot of 1,200 m2. Each villa will include a 200 m2 patios, either with natural stone or stamped concrete, and 150 m2 green grass