Executive Summary Montecito Residential Condominium Residential lots Applicant Name: Arq. Alfredo Torres Himede Edificio Atrium Plaza Local 22 Blvd. Santa Elena Antiguo Cuscatlan, La Libertad, El Salvador Company: Crear, S.A. de C.V. Phone numbers: (503) 2289-4070, cell (503)7244-8464 Email address: [email protected] Web: www.crear.com.sv Description of Project Funding is requested for the development of a property that already has all the (environment, town hall, OPAMSS) institutional permits Such property is located with an outstanding location in an area of current housing development. The current owners sell the property to a value of 75 dollars per square yard, including the design of urbanization, permits. The project is to buy land and build roads, with all the infrastructure, security booth, cas club, recreational area. It is a price of a chance as it took them two years to get these permits. an amount of 10.8 million is needed to complete the project within a period of two years. Gross profit from the sale of the 29 lots is equivalent to 3.5 million. Currently there are potential buyers interested to apply for financing at the same price. The owner of the property shared me this information and I would like to develop with a rapid financing from outside. Land Sale price Price offer PROYECTO DE URBANIZACION 90 $/SQ.V 75 $/SQ.V Area Land Lots Total floor area value land Urbanization value Clubhouse Land value Urbanized Administrative expenses Commercialization Total cost 61,599.41 46,637.17 6610,232.69 2535,681.59 700,000.00 9845,914.27 689,214.00 295,377.43 10830,505.70 SQM SQM Sale price Useful Marketable Area Value Sale Lots Gross profit 200.00 66,728.46 13345,692.57 3499,778.29 349,977.83 3149,800.46 2 years 14.54% $/SQV SQ. V Net profit Period annual return 88,136.44 66,728.46 SQ. V SQ. V
