SOLD

Investment Opportunity

Lot K9 Paitilla

Calle F

Panama City

Rep of Panama

Total Land Area 1,329.07M2

SOLD

Sales Price     $3,987,210.00 U.S. dollars

Price per m2   $3,000.00 U.S. dollars

SOLD

Zoneing          RM 3Residential Multi family high density.

Density           1,500 people per hectare

Variation        Can be increased to 2,000 people per hectare with the addition of a communal area ie. The communal area should cover 1 entire floor and offer a swimming pool, meeting or party area, fitness facility and an area to cater for children such as a play area.

Occupation

            Apartment with 1 bedroom 2 inhabitants per apartment.

            Apartment with 2 bedrooms 4 inhabitants per apartment.

            Apartment with 3 bedrooms 5 inhabitants per apartment.

Suggested project.

            Capacity of  lot of 1,329.07M2    

     273 inhabitants.

            Distribution  

 60 1 bedroom apartments of approx 120M2

 72 duplex apartments with 2 bedrooms of approx.240M2

   2 penthouses of 3 bedrooms of approx. 480M2

60 floors in total

                        53 floors of apartments

                        1 floor of social area

                        6 floors of car parking

Projected sales.

                        Total saleable area 25,440M2

                        Sale price per M2 $2,300

                        Total value of sales $58,512,000.00

Price of land expressed as a percentage of total sales potential 6.80%.

These figures have being compiled very conservatively in relation to the selling price of the finished product ie. the current price for a high end developments in this area would exceed $2,300 per M2 combined with the fact that current capital appreciation in this area is around 15% per annum and the completion time would be in the region of 2 years.