PREATONI TOWER JL JLT D U B A I P R O J E C T P R E S E N T A T I O N 2 0 1 8
INDEX • Project History • Who is Preatoni • Where we operate • Business Model • How we operate • Localization • Case history - Preatoni Tower JLT • Contact
PROJECT HISTORY – DUBAI STAR • After the global financial crisis the Dubai real estate sector suffered severely, causing various developers to stop LAUNCHED IN 2006 construction and leaving many projects on hold. 554 Mixed-Use • Initially named Dubai Star, launched by ACI, was one of these projects, and despite its beautiful location in Jumeirah Units Lake Tower, no solution was found until November 2013. location JUMEIRAH • In January 2014 we re-opened the building site, saving the investment of the promissory buyers. LAKE TOWER • In 2016 we decided to change the name in Pr Preatoni To Tower JLT JL
WHO IS PREATONI The Pre reatoni gro roup was founded by Ern rnesto The group operates in the Real Estate Pre reatoni who, after a successful career in finance, and Tourism sector which now employs start rted building his re real estate galaxy in the 70’s. more than 5000 people. « We Offering Only Our Very Best to Rescue The Investments Of Future Clients »
WHERE WE OPERATE In the Baltic countries (Estonia, Latvia, Lithuania) Ernesto Preatoni is the founder and major shareholder of Pro Kapital Group, a publicly listed company who is the undisputed leader in the local real estate market. In its 25 years of successful operations, it has developed and managed several hotels, shopping malls as well as multiple commercial and residential projects. In Russia Preatoni owns and manages the a award win innin ing Domin ina Prestig ige S St. P Petersburg and the newly opened Domin ina Ho Hotel Novosib ibir irsk , as well as s several resid identia ial d developments in the cities of Tomsk, Tyumen, Omsk, Ekaterinburg, Kaliningrad. In Dubai Preatoni took over the distressed project named "D "Dubai Star" r" in 2014. The project had been on hold for In Italy In Egypt three years and was at a completion Preatoni owns and manages 27 27 Preatoni owns and manages the b big iggest r resort on the Red Sea, the stage of 38%. As As of now (January hotels u under t the Domin ina br brand , one iconic Domin inaCoral Bay in in S Sharm E El S Sheik ikh . . Opened in 1993, with an an 2018) th the proj oject t is at t 99% of the best r recogniz ized b brands in in area o of o f over o one m mil illio ion sq sq/mt mt it is more than a hotel: at its maximum co completion and is due for ha hand ndover Italia ian h hospit italit ity s sector. capacity it can accommodate 5000 guests and 4000 staff. in in Q2 2018.
BUSINESS MODEL 6 Fundraising Solution with previous 5 investors / owners 7 Construction 4 Collaboration with Dubai courts 8 Delivery 3 Define the financial structure Due diligence 2 1 Investment Opportunity
HOW WE OPERATE – OUR VALUES No risk coming from new sales. All of Knowledge of international Real Locally established structure: Preatoni Real Estate the targeted projects have one thing in Estate markets: the Preatoni Development LLC has been well established, Dubai common: they were marketed by a group has successfully based company since 2013. The company consists of previous developer and they come managed and developed a highly trained staff with specific know-how in regard to with existing contracts signed with number of projects in Italy, distressed projects, and is well recognized by the local promissory buyers. Switzerland, USA, Egypt, Russia, authorities such as Dubai Land Departments, Dubai Estonia, Latvia, Lithuania. Municipality, Civil Defense, Master developers etc... 30%/60% payment ”sweet spot” is No risk in regards to Real Estate Escrow account law: Law no.(8) of 2007 states that all ideally where we want our promissory market cycles: Dubai's Real received amounts from promissory buyers shall be buyers to be. If they have paid less Estate sector is highly dynamic collected in a project's escrow account. Furthermore, all than 30% they may be not motivated yet somewhat volatile. Since we the payments toward the contractor or any other third to continue with the payments, if they target stalled projects where party involved in the project's development are released have paid more than 60% it's likely that promissory buyers have already from the escrow account only after being certified by a the receivables won't cover the purchased the units, we are government approved independent engineer. This project's costs. immune to market swings. provides full transparency to all the involved parties.
LOCALIZATION Jumeirah Lake Tower is the closest district to the famous Dubai Marina. JLT was named best free zone in the world for 3 consecutive years and consists of 80 mix-use towers being constructed along the edges of three artificial lakes (Lake Almas West, Lake Almas East, JLT Lake) as well as the JLT Embankment of 8 tower facing Jumeirah Islands.
CASE HISTORY Preatoni Tower JLT • This project was a allenge even for an 196 mt. high It’s the 2n 2nd higest a considerab able chal experienced group such as ourselves: to ga gain back ck the trust of of tower of JL JLT tors after such a complicated history was no easy task. th the investo with 46 floor • We brought our Italian know-how to the project , and our and 2 pools engineers and project managers worked hard to restart a construction site that had been on hold for such a long time. • At its peak , 550 workers . , the site operates with 550 551 551 of of 554 554 • Only 6 of 320 promissory buyers didn’t continue their payments Units sold before • It was no easy task, but we are delighted to have re rescued t the he investment of our clients and now we completion in we wa want to re replicate this s model in the next pr mo proje ject.
Aspin Commercial Tower Office No. 3203 Sheikh Zayed Road, Dubai , UAE +971 4 3 550 461 www.dominacoralbay.com www.prokapital.com www.ernestopreatoni.com www.preatoni.ae Edoardo Preatoni Faheem Muzafar Nazli Saidi Paolo Ortolani +971 +971 561386394 561386394 +971 564062851 +971 564062851 +971 +971 568741144 568741144 +39 +39 338 338 8038790 8038790 edoardo:@preatoni.ae faheem@preatoni.ae customercare@preatoni.ae ortolani.paolo@gmail.com
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