Sales Brochure (Al Salam Mall - Iraq)

The Presidents Message

Project’s Description

About Alsalam Mall

The holy city of Najaf

General Information on the Project

Northern Part: Ramada Plaza (Five Stars Hotel(

Southern Part: Ramada Hotel and Suites

Floor Plans

Al-Salam Project Investments

JAWAD BUKHAMSEEN

Chairman BUKHAMSEEN HOLDING GROUP

Today we celebrate the completion of an important stage of the Ramada Hotel and Al-Salam Mall project. We emphasize how proud and honored we are to see such a important project comes to life. We pledge our full commitment to meeting all of the requirements toward completing the project's next stages within the set time frame. Projects are not without difficulties, especially in their initial stage, and this project is no exception. However, with God's blessings and the assistance and cooperation of many institutions, including the National Investment Committee, the Najaf Investment Authority, the Najaf Governorate Council, and the Governorate of Najaf, as well as the municipality of Najaf, we were able to make tremendous progress and overcome numerous challenges, enabling us to progress to this critical phase of the implementation. I, and the entire Bukhamseen Group, would like to express our heartfelt appreciation and gratitude to everyone who contributed to this vital project for the holy city of Najaf. This brochure provides a brief overview of the architectural concept and the future shape of Al-Salam Mall project, as well as its components and what it will offer to residents and visitors of the ancient city of Najaf. The project will include a luxury hotel and a suite of hotel apartments, managed by Wyndham Hotels and Resorts, as well as a large shopping center, which we hope will constitute a new achievement and a significant landmark in this prestigious city. In conclusion, I must commend the work and dedication of everyone involved in this project, including management, engineers, employees, workers, suppliers and others. I sincerely thank them all, praying to God to bless the efforts of the next stages with success and prosperity.

PROJECT’S DESCRIPTION عورشملا

The total project area is 12,300 square meters with a built area of 88,000 square meters. The entire development includes a retail mall, Ramada Plaza hotel suites, and the five-star Ramada Plaza Hotel.The Al-Salam Mall retail area, has 143 shops in its Ground, 1st and 2nd floors. It has a parking space that can accommodate 195 cars. The shops have a total leasable area of 14,412 square meters. The complex has 25 office spaces with a total area of 1,625 square meters and includes 229 furnished hotel apartments, known as Ramada Plaza Hotel Suites, which is suitable for short-term stays. The Ramada Plaza Five Star hotel, on the other hand, has a total area of 32,990 square meters, consisting of seven floors, a service tunnel and a ground floor (lobby, restaurant, kitchen and reception(. The hotel has 239 various rooms and suites, in addition to 3 meeting rooms, an Iranian kitchen and two banquet halls with exclusive kitchen. It also features a fully equipped gym, an indoor swimming pool and a business center.

ALSALAM MALL

Al Salam Mall is a new window through which we view the world of business It is considered a guarantee of your investment in the future through the important features that the mall contains, as it is strategically located in the city center.

In addition to the services it provides (rental spaces of different sizes with all their services that meet all the needs of tenants(.

HOLY CITY NAJAF

Najaf has a population of over 700 ,000 inhabitants and is expected to grow by around 2.5% per annum over the next ten years, a relatively high rate for the region when compared to neighboring Syria and Iran. Nearly 70% of inhabitants are below the age of 30, a strong demand driver for future retail spending.

TOURISM

Najaf is also a religious tourism area, with 10-15 million people visiting Imam Ali Shrine and the Grand Kufa Mosque every year. Visitors are traditionally from Iran, Lebanon and the GCC, but the there is a new trend of attracting Asian visitors, with travelers from India and Pakistan on the rise.

KEY LOCATION

The mall sits in a unique location within Najaf. Its embedded hotel is adjacent to the largest necropolis in the world, Al Salam cemetery, which is the ultimate burial ground for millions of Muslims around the world. The mall is also located on Al Kufa Road, the backbone of the local road network, and less than a 10 minute walk from Imam Ali shrine, one of the holiest sites of Shia Islam.

This simple company grew and diversified, ultimately moving in status from a family business to a full-fledged institution with interests in several economic sectors. In the early years of the group, its contribution to the national economy was largely the result of its leadership in trade, real estate, and construction.

THE HOLY CITY OF NAJAF

It is regarded as one of the most important cities in Iraq, being the burial site of the fourth Islamic Caliph Ali Bin Abi Talib (peace be upon him), and a place of scholarly estate in t. The city has a long history dating back before Islam and it became the capital of the Muslim nation during the reign of Ali Bin Abi Talib (PBUH). The city is also the sanctuary of two prophets, Hood and Saleh (PBUT), wherein the Al-Kufah and Al-Sahla Mosques are also situated in the area. The holy city is rich in historical sites and was chosen as the capital of Islamic culture in 2012. Najaf Governorate is located in central Iraq, on the edge of the western desert plateau, about 160 kilometers southwest of Baghdad. The province has a land area of 28,824 square kilometers, and the city of Najaf (the governorate’s capital) has a land area of 1,338 square kilometers. The governorate consists of three districts: Najaf District, AlManathrah District, and Kufa District. It has

seven administrative districts: Al-Abbasiya, Al-Hera, Khan Hammad, Al-Mishkhab, AlHaidariya, Shabaja, and Al-Qadisiyah. Najaf Governorate has a population of about 1.4 million people and 71% of the population lives in urban areas. In view of its prestigious religious status, the holy city of Najaf is visited by a large number of visitors from both inside and outside of Iraq each year. The city of Najaf is distinguished by its wide, straight streets, buildings, and wide markets, all of which are characterized by a high degree of regularity. Especially the great market, which runs from the city’s eastern wall to Imam Ali’s tomb (peace be upon him). The city of Najaf overlooks the Najaf Sea (currently dry) and visitors from afar can see the shrine of Imam Ali (peace be upon him), which is located in the center of the city. Above the shrine, a gold-covered dome can be seen.

GENERAL INFORMATION ON THE PROJECT

This project is located inside the holy city of Najaf near the old market and is only 950 meters away from the shrine of Imam Ali (Peace be upon him). This large compound includes the following:

● Al-Salam Mall, a large two-storey shopping center with many different shops is designed to meet the needs of residents and visitors of the holy city of Najaf. It will also include restaurants, coffee shops and snack bars.

● Ramada Hotel (Najaf five-star hotel and suites) will offer the best services to the visitors of the Najaf›s holy city. The Hotel, which will be managed by Wyndham Hotels and Resorts, is distinguished for its proximity to the Imam Ali Shrine (Peace be upon him).

● Underground Parking Spaces.

This project is expected to add an aesthetic dimension to the area while also increasing trading activities because it will attract both visitors and shoppers. From the start, the projectʼs organizers were concerned with designing it in accordance with the highest international and local quality standards, focusing on serving customers and visitors. The best amenities, distinguished service, and safety were given much attention to meet their expectations and needs. Since the beginning, the emphasis has been on environmental protection. Energy was supplied to the project via a special station designed to improve operational efficiency. In addition, an integrated voltaic system has been designed to convert solar energy into electrical energy and use it to provide alternative energy to the building. The building has modern civil defense systems equipped with 24 hour surveillance cameras. Many environmentally friendly systems and materials were used, such as water purification systems installed inside the building, the use of automatically closing taps, particularly in public areas, to reduce water usage, smart lighting, and the prevention of coolant air leaks from outlets and external doors. The administration also prohibits the use of chlorine and other environmentally hazardous substances in swimming pools, as well as in cleaning the hotel furniture. The project is expected to open in December 2016.

NORTHERN PART: RAMADA

PLAZA )FIVE STARS HOTEL(

This spacious hotel will offer all amenities and a comfortable stay for guests and visitors. It strives to extend the best services and food to ensure a pleasant stay in the holy city of Najaf. Wyndham Hotels and Resorts will manage the hotel and hotel suites, providing many benefits to its guests, details of which to be announced later.

This distinctive hotel features the following amenities:

● Total number of Rooms (229)

● Number of Deluxe Rooms (194)

● Rooms for One Person (5)

● Large Rooms equipped with supplies for people with special needs (10)

● Hotel Suites equipped with all necessities for comfortable accommodation (20)

● A Large Hall for Weddings and Celebrations

● Indoor Swimming Pool with regular temperature throughout the year

● A Modern Gym and separate Training Rooms for Men and Women.

● Special Rooms of different sizes for holding Training, Workshops and Business Meetings

● Two Luxury Shops.

● A Luxurious Restaurant serving the best Arabic and Iranian dishes.

● Relaxing shop for tea and coffee (coffee shop)

● 210 Car Parking spaces in the basement below the ground level.

SOUTHERN PART: RAMADA

HOTEL AND SUITES

The hotel suites is intended for a long term stay by families or individuals with accompanying persons. The entrance to the hotel suites on the ground floor, situated on the eastern side of the building, has a pleasant, five-storey high atrium which forms a skylight allowing enjoyment of a natural daylight.

The Suits Side includes the following:

● Total number of Hotel Suites (239)

● Deluxe Rooms (186) with an area of 45 square meters designed to suit families and people for longterm stay

● Apartment for one person (48)

● Apartment for two persons (5)

● Coffee Shop

GROUND FLOOR

● Jewelry and Gold Stores

● Watch Shops

● Souvenir Shops

● Men and Women Clothing Stores

● Children’s Clothing Stores

● Fashion Accessories Store

FIRST FLOOR

● Women's Bags Shop

● Women's Skin Care and Beauty Shop

SECOND FLOOR

● Electronics Store

● Book Store

● Sports Supplies Store

● Children's Educational Game Store

● Restaurants

● Food Court

● Children's Entertainment Store

THE BASIC CONSIDERATION OF AL-SALAM PROJECT INVESTMENTS:

Al-Salam Project has several pillars that ensure its success, namely:

● In terms of supply and demand, and according to the estimates of the Chamber of Commerce in Najaf, there are an average of at least 10,000 visitors arrive to the city daily for the purpose of religious tourism. The vast majority of these visitors come from the neighboring countries, such as Iran, the Arab Gulf states and even Europe. However, the hotels in Najaf are insufficient to accommodate the increasing number of religious tourists. In addition, the majority of the rest stops that accommodate these visitors do not meet any standard of hospitality. Furthermore, most of these rest stops, rated as less than one star, work with prior agreements with tourist groups. As a result, visitors who do not join such groups may have difficulty finding a suitable place to stay in Najaf during the period of religious rites.

● The project aims to take advantage of the privileges provided to foreign investors in Iraq under Investment Law No. (13( of 2006, which was approved by the Iraqi Council of Ministers, whereby, the lands can be obtained for such projects on the basis of a long-term lease (50-year( that is renewable, in addition to benefiting from ten years of tax exemption from the start of operating the project.

● Furthermore, the project intends to benefit from the Arab Investment and Export Credit Guarantee Corporation's insurance coverage in the face of four major categories of investment risks. These risks include the confiscation and nationalization of investment, the prohibition on transferring invested capital or investment returns across borders, insurance against damages caused by wars and civil unrest, and ensuring the implementation of arbitration decisions that favor the investor in the event of contract violation by local authorities.

Percentage of Work Completion

A committee from the Najaf Investment Commission visited the project to determine the percentages of completion and actually match them on the ground. The committee confirmed the following work completion percentages: 99% for the mall, 73% for hotel apartments and 50% for the hotel. At least 40% of

the Al Salam Mall stores have been rented and the Ramada Plaza Hotel Suites (Group of Hotel Apartments( will follow.

Projected Revenues during the First Ten Years of Operation

The estimated construction cost of the project is 110 million US Dollars. The project's internal rate of return is 20% and the investment payback period is estimated to be five to six years from the start of operations. The following are the project's expected returns over the first ten years:

● The Ramada Plaza Hotel generates 44 million US Dollars in revenue.

● Ramada Hotel Suites generates 49 million US Dollars in revenue.

● Al-Salam Commercial Mall generates 52 million US Dollars in revenue