persianas group profile sep2011

© Persianas Group, 2010

Anticipating the Future


Introduction &

BackgroundThe Persianas Group consists of various businesses, of which Persianas Properties

Limited (“PPL”) incorporated in 1990, is the largest business. Persianas is managed

by a highly skilled team of experienced professionals led by Tayo Amusan, a Nigerian

businessman with extensive experience in developing luxury residential, retail,

entertainment and hospitality centers as well as commercial developments in

Nigeria.

Persianas conceived the Retail Project in 1999, and was able to put together the

team of architects, engineers and investors (Actis) by 2002. Persianas launched the

ground-breaking retail project „The Palms‟ in partnership with Actis in 2003, which is

now the premier shopping destination for all Nigerians. In 2007, Persianas bought

out Actis‟ stake, thus retaining 100% ownership of the project.

Persianas has embarked on an aggressive growth plan, with projects being planned

and executed across Nigeria. It has several projects in the pipe-line totaling over

US$1 billion, covering mainly Retail, office and commercial properties.

Persianas is also expanding its business portfolio into Estate Management, Retail,

Trading of Construction Material, and other related activities.


Why

Persianas?

Successful and proven track-record in conceptualizing,

developing and managing a world-class Retail/Commercial

project in Nigeria. ‘The Palms’ is the strongest and biggest

Brand in Nigeria in this sector.

Very strong in-house team of specialists/consultants/ partners,

with proven track-record and international expertise.

Excellent working relationship with International and Domestic

Architects, construction companies, banks/ financiers,

consultants and other experts, guaranteeing a successful

delivery of the project with world-class standards.

Existing relationship/partnership with international and

domestic retail chains/outlets, which will be extended to all our

projects.

Persianas Group

Management

Development

Management

Asset

Management

Investment

Management

• Originate development

opportunities and

convert these into

quality assets

• Take advantage of land

value increase by

procuring appropriate

rights and developers

profit

• Responsible for the

investment decisions of

the investor.

• Ensures compliance

• Manages/monitors

performance

• Shifts the risk profile of

the asset to investment

grade

• Guides developer with

regard to investment

targets

• Houses the groups

wealth and forms basis

of balance sheet value

• Is the exit for the

developer

(developments can be

sold in full or part

• Forms the core

portfolio for listing

• Key to retain an audited

performance history

• Takes investment risk


Persianas Projects

Persianas Palm Court I & II

• Persianas Palm Courts is a

residential luxury apartment

estate located in Victoria Island

comprising of 2 blocks of 24

apartments and 3 penthouses.

• It provides functional and

luxurious accommodation to the

expatriate staff of multinationals

including Exxon Mobil, Ericsson

and the German Embassy

Persianas’ developed property portfolio includes developments such as:


• The Palms Shopping Center is the biggest shopping mall development in Nigeria

and is located on the border ofVictoria Island and Lekki Peninsula in Lagos.

• The mall comprises a double storey structure with a total built area of circa. 25,000 sqm

and 20,000 sqm lettable space.

• The Palms Mall project was completed at approximately US$50 million, with an equity base

of US$16.5 mil, and was voted African Finance Project Deal of the Year 2004 by The

FinancialTimes.

• Actis invested $10.5 million as equity, balance held by Tayo. Actis also put in the balance

project cost as debt. In Nov 2007,Tayo Amusan bought out Actis‟ stake in ‟The Palms‟.

• The mall was formally commissioned in April 2006 by His Excellency, The President of

Nigeria, Olusegun Obasanjo. Commercial Trading started in Dec 2005.

• Persianas has recently embarked on the expansion of „The Palms‟. The land adjacent to the

existing mall has been acquired, and the expansion is expected to add approx. 40,000 sq m

of constructed retail space and an additional 30,000 sq m of multilevel parking. The

expansion project is estimated to cost ca $150 million, and will take 2.5 yrs to complete.

Commencement of construction planned for 4th quarter 2011.


2006: Before Launch


• The Palms provides a very conducive and

safe environment for both businesses and

consumers.

• The Palms has 67 shops/tenants, generating

direct employment for approx 750 people.

• It generates approx US$8-10 million annually

asVAT revenue to the government.

• The various businesses at The Palms

supports over 600 suppliers/vendors,

generating further employment and tax

revenue.

• On an average around 300,000 consumers

visit The Palms each month i.e. 3.6 million

visitors annually.

Businesses

Consumers

Government


The Palms - Extension

The Phase II project for the expansion

of The Palms – Lekki is under way.

PPL plans to add an additional Retail

space of 40,000 sq. meters and 30,000

sq m of multi-level parking.


The Palms-Value Proposition

The Palms is a type of development that has never been undertaken in

Nigeria because of a lack of industry expertise and the absence of sizable

retailers willing to trade in Nigeria. However, the promoters have been

able to attract high quality anchor tenants regarded as Africa‟s leading

retail names to The Palms such as:

Game, one of South Africa‟s leading department

stores with operations in six countries.

Shoprite- extended ranges of basic

grocery and household products, service

departments and a bigger range of non-

food products

http://www.shoprite.co.za/files/19204235/HiRes Pics/Shoprite 2004/SRingang_hires.jpg


Value Proposition Persianas Group Shopping Malls offer an ideal tenant

mix of both international and local tenants offering a

range of retail, entertainment, services and restaurants.

Current Development Projects and

Opportunities

• Persianas is currently exploring other identified strategic

opportunities particularly in the retail and commercial

property market

• Development of the Palms Mall Phase II project.

• Replication of the Palms project across different states inNigeria

• Lagos

• Kano

• Ogun

• Strategic alliance with other Government agencies andparastatals viz. FAAN, Nigerian Customs, etc.

Palms Shopping Mall, Lekki

Description

Retail Mall with GLA of 19,520 sqm.

Offering Retail, Supermarkets,

restaurants, Cinema.

Anchor Tenants are Shoprite and

Game.

Woolworths, Max as tenants by end

2011

Valuation USD 140 mln

Details 100% owned by Persianas

Status

Trading Date Commenced 2007.

Planned expansion of the Palms to

be completed Dec 2011.

Managed by Broll and ARIA

Polo Park Shopping Mall, Enugu

Description

Retail Mall with GLA of 22,530sqm.



Anchor Tenants are Shoprite and

Game.

Sub-Anchor Tenants are Woolworths,

Hub Media and Max.


Details

80% owned by Persianas

20% owned by Enugu State

Government

StatusShoprite commenced trading Sept

2011.


Portfolio of Projects

Kwara Shopping Mall, Kwara

Description

Retail Mall with GLA of 10,430 sqm



Anchor Tenant Shoprite.


Details


30% owned by Kwara State

Government

StatusUnder construction estimated

Completion Dec 2011


Ibadan Shopping Mall, Ibadan Oyo State

Description

Retail Mall with GLA of 18,500 sqm



Letter of Intent from Anchor tenant

Shoprite

ValuationTotal Development Cost – USD 66

mln

Ownership


5% owned by Oyo State

Government

Status

Financing Secured. Construction to

commence Q4’ 2011. Estimated

completion end Q1’ 2014


Portfolio of Projects

Expected Completion: Sept-Oct 2011

80,000 sq meters of Land

Phase 1: 27,500 sq m of Retail Space

Phase 2: 90 room Hotel & 9,000 sq m Office Building

1,400 car park space.

Family entertainment centre (with Giant Ferris wheel).

Centrally located in the heart of the city (GRA), with

road access from three sides.

• Ilorin's central location makes it

easily accessible to all parts of the

country by air, road transport or

rail. By road, Ilorin is equidistant to

all major population centres north

and south of Nigeria

• Expansive ground of 30,000 sq. m.

• 10,500 sq m of Retail Space

(including restaurants, Food-court,

Movies)

• Car park space for 400 cars.

• Key Tenants: Shoprite, KFC, The

Hub, Max, Wrangler, etc.

• Expected completion: December

2011

Ilorin, the capital of Kwara State is a confluence of cultures, populated by Yoruba, Hausa,

Fulani, Nupe, Baruba, Igbo, other Nigerians and foreign nationals, and presents the visitor

with an impressive number of evocative tourist attractions such as the imposing Sobi Hill that

was said to have offered protection to natives during inter-tribal wars in ancient times.

Kwara Mall

Ibadan Mall

• Expansive ground of 60,000 sq. m.

• 21,000 sq m of Retail Space.

• Car park space for 820 cars.

• Construction Commencement: Q4

2011, expected completion: Q1 2014.

• Phase 2: Hotel & Office Block.

Ibadan, the capital of Oyo State, is the third largest city in Nigeria by population (after Lagos and Kano), and the largest in geographical area. At independence, Ibadan was the largest and the most populous city in Nigeria and the third in Africa after Cairo and Johannesburg.

It is located in south-western Nigeria, 78 miles inland from Lagos and is a prominent transit point between the coastal region and the areas to the north.

Ibadan Project

AlliancesPersianas has partnered with several leading institutions in its quest to deliver ground-

breaking super-structures/multiplexes in a rapidly resurging real estate sector. Such strategic

partnerships include the under-listed international and local institutions, which over the

years, have provided the required financing, development, project management and advisory

capacity to develop large scale real estate projects.

Persianas Group

Persianas Palm Courts,

Plot 999A, Danmole Street,

Victoria Island,

Lagos, Nigeria.

Tayo Amusan: +234 803 403 0471

Prakash Pantham: +234 805 152 1111

Chuka Okoye: +234 805 700 2077

Mike Williams: +234 805 259 6103

Yetunde Williams: +234 815 428 9724

Email: [email protected]

persianas group profile sep2011

Documents

car park space

anchor tenant

retail space

victoria island

retail mall

anchor tenants

offering retail

tayo amusan