apartment development cost estimate

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PROPOSAL FOR THE DEVELOPMENT OF OFFICE & APARTMENT BLOCKS ON LOT 2807,11527,11528,11529 & 11532 AT JALAN AMPANG KIRI, FINANCIAL ANALYSIS FOR THE DEVELOPMENT A LAND COST AREA LAND / CONSTRUCTION COST TOTAL COST 1 LAND AREA AT 3.15 Acres 3.15 Acres $ 185.00 $ 25,347,438.00 B CONSTRUCTION COST 1 Car park Basement ( Office + Residential) 143,407 $ 90.00 $ 12,906,630.00 2 Car park Podium ( Office + Residential) 510,921 $ 70.00 $ 35,764,470.00 Car Park office Block ( Basement & Podium 3 Apartment 1,125,360 $ 130.00 $ 146,296,800.00 Apartment -902,560* 300.00 4 Office Block 261,000 $ 170.00 $ 44,370,000.00 Office- 220,000 * 400.00 5 Foundation 5% of Construction Cost $ 11,966,895.00 (Less 7.5% discount for 30% of the Apartm 6 Infrastructure & Landscape 97,553 $ 10.00 $ 975,530.00 unit ,Bumiputra share) 7 Preliminaries 3% of Construction Cost $ 7,570,029.00 Sub-Total Construction $ 259,850,354.00 Sub- total on Sale C STATUTORY CONTRIBUTION 1 Planning & Approval Charges 0.05% of Gross Development Value 0.05% * 348,420,562 $ 174,260.00 2 Plan Fees ( Building Plan) 0.025% of Gross Development Value 0.025%* 348,420,562 $ 87,130.00 3 Development Charges 2% of Gross Development Value 2%* 348,420,562 $ 6,970,411.00 4 IWK Contribution 1% of Gross Development Value 1%* 348,420,562 $ 3,485,205.00 5 TNB Contribution 0.5% of Gross Development Value 0.5%* 348,420,562 $ 1,742,602.00 6 Syabas Contribution 0.2% of Gross Development Value 0.2%* 348,420,562 $ 696,841.00 7 Strata Title Survey Fees RM 1000.00 per unit Apartment 904* 1000 $ 904,000.00 8 Quit Rent & Assessment RM 20,000.00 per acre per year 20,000.00*3 $ 60,000.00 9 Other Authority Contribution ( Allow) 10 Stamp Duty 0.5% of 270,768,000.00 $ 1,353,840.00 11 Legal Cost RM 600.00 per unit Apartment 600*904 $ 542,400.00 Sub-Total Statutory Contribution $ 16,016,689.00 D PROFESSIONAL FEES 1 Architects & Town Planner 2% of Construction Cost 2%* 252,334,325.00 $ 5,046,686.00 2 Civil & Structural Engineer 1.2% of Construction cost 1.2%* 252,334,325.00 $ 3,028,011.00 3 M & E Engineer 1% of Construction Cost 1.0%* 252,334,325.00 $ 2,523,343.00 4 Quantity Surveyor 0.7% of Construction Cost 0.7%* 252,334,325.00 $ 1,766,340.00 5 Project Management Fees 1% of Construction Cost 1%* 252,334,325.00 $ 2,523,340.00 6 Traffic Consultant RM 20,000.00 $ 20,000.00 7 Soil Investigation RM 60,000.00 $ 60,000.00 8 Valuer 0.25% of Gross Development Value 0.25%* 348,420,562 $ 871,301.00 Sub-Total Professional fees $ 15,839,021.00 E COMPANY OVERHEADS 1 Adminstration & Management 1% of Grosss Development Value 1%* 348,420,562 $ 3,484,206.00 2 Advertising, Promotion & Marketing 1% of Grosss Development Value 1%* 348,420,562 $ 3,484,206.00 Sub-Total company Overhead $ 6,968,412.00 F Financing Cost 1 Bank Interest 8% at Bridging Loan of RM 15 Milli8% * 15mil* 1.5 year $ 1,800,000.00

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Page 1: apartment development cost estimate

PROPOSAL FOR THE DEVELOPMENT OF OFFICE & APARTMENT BLOCKS ON LOT 2807,11527,11528,11529 & 11532 AT JALAN AMPANG KIRI, MUKIM AMPANG KUALA LUMPUR.

FINANCIAL ANALYSIS FOR THE DEVELOPMENT

A LAND COST AREA LAND / CONSTRUCTION COST TOTAL COST TOTAL SALE VALUE

1 LAND AREA AT 3.15 Acres 3.15 Acres $ 185.00 $ 25,347,438.00

B CONSTRUCTION COST

1 Car park Basement ( Office + Residential) 143,407 $ 90.00 $ 12,906,630.00 2 Car park Podium ( Office + Residential) 510,921 $ 70.00 $ 35,764,470.00 Car Park office Block ( Basement & Podium) $ 15,000,000.00 3 Apartment 1,125,360 $ 130.00 $ 146,296,800.00 Apartment -902,560* 300.00 $ 270,768,000.00 4 Office Block 261,000 $ 170.00 $ 44,370,000.00 Office- 220,000 * 400.00 $ 88,000,000.00 5 Foundation 5% of Construction Cost $ 11,966,895.00 (Less 7.5% discount for 30% of the Apartment6 Infrastructure & Landscape 97,553 $ 10.00 $ 975,530.00 unit ,Bumiputra share) $ (6,092,280.00)7 Preliminaries 3% of Construction Cost $ 7,570,029.00

Sub-Total Construction $ 259,850,354.00 Sub- total on Sale $ 379,860,280.00

C STATUTORY CONTRIBUTION1 Planning & Approval Charges 0.05% of Gross Development Value 0.05% * 348,420,562 $ 174,260.00 2 Plan Fees ( Building Plan) 0.025% of Gross Development Value 0.025%* 348,420,562 $ 87,130.00 3 Development Charges 2% of Gross Development Value 2%* 348,420,562 $ 6,970,411.00 4 IWK Contribution 1% of Gross Development Value 1%* 348,420,562 $ 3,485,205.00 5 TNB Contribution 0.5% of Gross Development Value 0.5%* 348,420,562 $ 1,742,602.00 6 Syabas Contribution 0.2% of Gross Development Value 0.2%* 348,420,562 $ 696,841.00 7 Strata Title Survey Fees RM 1000.00 per unit Apartment 904* 1000 $ 904,000.00 8 Quit Rent & Assessment RM 20,000.00 per acre per year 20,000.00*3 $ 60,000.00 9 Other Authority Contribution ( Allow)

10 Stamp Duty 0.5% of 270,768,000.00 $ 1,353,840.00 11 Legal Cost RM 600.00 per unit Apartment 600*904 $ 542,400.00

Sub-Total Statutory Contribution $ 16,016,689.00

D PROFESSIONAL FEES1 Architects & Town Planner 2% of Construction Cost 2%* 252,334,325.00 $ 5,046,686.00 2 Civil & Structural Engineer 1.2% of Construction cost 1.2%* 252,334,325.00 $ 3,028,011.00 3 M & E Engineer 1% of Construction Cost 1.0%* 252,334,325.00 $ 2,523,343.00 4 Quantity Surveyor 0.7% of Construction Cost 0.7%* 252,334,325.00 $ 1,766,340.00 5 Project Management Fees 1% of Construction Cost 1%* 252,334,325.00 $ 2,523,340.00 6 Traffic Consultant RM 20,000.00 $ 20,000.00 7 Soil Investigation RM 60,000.00 $ 60,000.00 8 Valuer 0.25% of Gross Development Value 0.25%* 348,420,562 $ 871,301.00

Sub-Total Professional fees $ 15,839,021.00

E COMPANY OVERHEADS1 Adminstration & Management 1% of Grosss Development Value 1%* 348,420,562 $ 3,484,206.00 2 Advertising, Promotion & Marketing 1% of Grosss Development Value 1%* 348,420,562 $ 3,484,206.00

Sub-Total company Overhead $ 6,968,412.00

F Financing Cost1 Bank Interest 8% at Bridging Loan of RM 15 Million 8% * 15mil* 1.5 year $ 1,800,000.00

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G CONTIGENCIES1 Allow for Contigencies & Inflation 3% of Construction cost 3%* 252,334,325.00 $ 7,570,029.00

H LAND CONVERSION 1 Land Conversion Premium 15% of Land Cost 15%* 25,347,438.00 $ 3,802,115.00

TOTAL GROSS DEVELOPMENT COST $ 337,194,058.00 TOTAL GROSS DEVELOPMENT VALUE $ 367,675,720.00

GROSS DEVELOPMENT PROFIT $ 30,481,662.00

RETURN ON GROSS DEVELOPMENT VALUE 8.29%

RETURN ON GROSS DEVELOPMENT COST 9.03%

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FINANCIAL ANALYSIS FOR THE DEVELOPMENT OF OFFICE BLOCK

A CONSTRUCTION COST AREA (SQ FT) CONSTRUCTION COST TOTAL COST1 Car Park Basement 54034 $ 90.00 $ 4,863,060.00 2 Car Park Podium 108576 $ 70.00 $ 7,600,320.00 3 Office Block 261,000 $ 170.00 $ 44,370,000.00 4 Foundation 5% of construction cost $ 2,841,669.00 $ 56,833,380.00 5 Infrastructure & Landscape $ 250,000.00 $ 250,000.00 $ 59,925,049.00 6 Preliminaries 3% of construction Cost $ 1,705,001.40

Sub-Total on Construction Cost $ 61,630,050.40

B STATUTORY CONTRIBUTION1 Planning & Approval Charges 0.05% of Gross Development Cost $ 30,815.03 2 Plan Fees ( Building Plan) 0.025% of Gross Development Cost $ 15,407.51 3 Development Charges 2% of Gross Development Cost $ 1,232,601.01 4 IWK Contribution 1% of Gross Development Cost $ 616,300.50 5 TNB Contribution 0.5% of Gross Development Cost $ 308,150.25 6 Quit Rent & Assessment RM 20,000.00 per acre per year 20,000.00*3 $ 60,000.00 7 Stamp Duty8 Legal Cost9 Syabas Contribution 0.2% of Gross Development Cost $ 123,260.10

Sub-Total on statutory contribution $ 2,386,534.40

C PROFESSIONAL FEES1 Architects & Town Planner 2% of Construction Cost $ 1,136,667.60 2 Civil & Structural Engineer 1.2% of Construction cost $ 682,000.56 3 M & E Engineer 1% of Construction Cost $ 568,333.80 4 Quantity Surveyor 0.7% of Construction Cost $ 397,833.66 5 Project Management Fees 1% of Construction Cost $ 568,333.80 6 Traffic Consultant RM 10,000.00 $ 10,000.00 7 Soil Investigation RM 30,000.00 $ 30,000.00 8 Valuer

Sub-Total Professional fees $ 3,393,169.42

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D Financing Cost1 Bank Interest 8% at Bridging Loan of RM 7 Million 8% * 7mil* 1.5 year $ 840,000.00

E CONTIGENCIES1 Allow for Contigencies & Inflation 3% of Construction cost $ 1,797,751.47

TOTAL GROSS DEVELOPMENT COST $ 70,047,505.69

SPECIFICATION FOR ARCHITECTURAL SPECIFICATION FOR M&E SERVICESFINISHESEXTERIOR VERTICAL TRANSPORTATIONFACADE a) standard lift with normal control

1 Casement window with brickwallEmulsion Paint to brickwall FIRE FIGHTING

a) wet & dry riserINTERIOR b) sprinklers to office, lift lobby, car

1 MAIN LOBBY park, circulation areaa Homogenous granite tiles to floor c) CO2 system to comsumer switch room

& wall transformer room, high tension switchb frameless Glass Panel wall room & TNB switch room

2 LIFT LOBBY MECHINICAL VERTICULATIONa Homogenous tiles to a) exshuat fan to basement car park

floor & wallb Plasterboard ceiling ELECTRICAL SERVICE

a) ceiling recess light to office floor3 OFFICE b) downlight in lift lobby & main lobbya cement rendered to floor c) bare channel lighting to all b Gypsumpboard ceiling circulation area & services roomc cement plastered to wall & Emulsion

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paint AIR-CONDITIONINGa) centralised air cond. System with out

4 SERVICES ROOM variable volume controla cement rendered to floorb offform with emulsion paint Sanitary & Plumbingc cement rendered to wall & Emulsion a) Standrad range sanitary wares

paint b) UPVC pipe sanitary stack

5 TOILETa homogenous tiles to floor (ALL M&E SERVICES PROVIDED AREb ceramic tiles to wall up to 7 ft height STANDARD WITHOUT SPECIAL FEATURE)

reminder cement plastered & Emulsion paint

c Standard range sanitary ware d Gypsumboard Ceiling

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FINANCIAL ANALYSIS FOR THE DEVELOPMENT OF APARTMENT BLOCKSPARTICULAR AREA (SQ FT) CONSTRUCTION COST TOTAL COST

A CONSTRUCTION COST

1 Car park Basement 89,373 $ 90.00 $ 8,043,570.00 2 Car park Podium 402,345 $ 70.00 $ 28,164,150.00 3 Apartment 1,125,360 $ 130.00 $ 146,296,800.00 4 Foundation 5% of Construction Cost $ 9,125,226.00 5 Infrastructure & Landscape 72,553 $ 10.00 $ 725,530.00 6 Preliminaries 3% of Construction Cost $ 5,770,658.28

Sub-Total Construction $ 198,125,934.28

C STATUTORY CONTRIBUTION1 Planning & Approval Charges 0.05% of Gross Development Cost $ 99,062.97 2 Plan Fees ( Building Plan) 0.025% of Gross Development Cost $ 49,531.48 3 Development Charges 2% of Gross Development Cost $ 3,962,518.69 4 IWK Contribution 1% of Gross Development Cost $ 1,981,259.34 5 TNB Contribution 0.5% of Gross Development Cost $ 990,629.67 6 Syabas Contribution 0.2% of Gross Development Cost $ 396,251.87 7 Strata Title Survey Fees RM 1000.00 per unit Apartment 904* 1000 $ 904,000.00 8 Quit Rent & Assessment RM 20,000.00 per acre per year 20,000.00*3 $ 129,000.00 9 Other Authority Contribution ( Allow)

10 Stamp Duty 0.5% of 270,768,000.00 $ 1,353,840.00 11 Legal Cost RM 600.00 per unit Apartment 600*904 $ 542,400.00

Sub-Total Statutory Contribution $ 10,408,494.02

D PROFESSIONAL FEES1 Architects & Town Planner 2% of Construction Cost $ 3,847,105.52 2 Civil & Structural Engineer 1.2% of Construction cost $ 2,308,263.31 3 M & E Engineer 1% of Construction Cost $ 1,923,552.76 4 Quantity Surveyor 0.7% of Construction Cost $ 1,346,486.93 5 Project Management Fees 1% of Construction Cost $ 1,923,552.76 6 Traffic Consultant RM 10,000.00 $ 10,000.00 7 Soil Investigation RM 30,000.00 $ 30,000.00 8 Valuer 0.25% of Gross Development Value 0.25%* 270,768,000 $ 676,920.00

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Sub-Total Professional fees $ 12,065,881.28

E COMPANY OVERHEADS1 Adminstration & Management 1% of Grosss Development Value $ 2,707,680.00 2 Advertising, Promotion & Marketing 1% of Grosss Development Value $ 2,707,680.00

Sub-Total company Overhead $ 5,415,360.00

F Financing Cost1 Bank Interest 8% at Bridging Loan of RM 15 Million 8% * 15mil* 1.5 year $ 1,800,000.00

G CONTIGENCIES1 Allow for Contigencies & Inflation 3% of Construction cost 3%* 192,355,276 $ 5,770,658.28

H LAND CONVERSION 1 Land Conversion Premium 15% of Land Cost 15%* 25,347,438.00 $ 3,802,115.00

TOTAL GROSS DEVELOPMENT COST $ 237,388,442.86

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$ 182,504,520.00

$ 192,355,276.00

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FINANCIAL ANALYSIS FOR THE DEVELOPMENT OF OFFICE BLOCK

A CONSTRUCTION COST AREA (SQ FT) CONSTRUCTION COST TOTAL COST1 Car Park Basement 26100 $ 90.00 $ 2,349,000.00 2 Car Park Podium 79734 $ 70.00 $ 5,581,380.00 3 Office Block 118,010 $ 170.00 $ 20,061,700.00 4 Foundation 5% of construction cost $ 1,399,604.00 $ 27,992,080.00 5 Infrastructure & Landscape $ 250,000.00 $ 250,000.00 $ 29,641,684.00 6 Preliminaries 5% of construction Cost $ 1,399,604.00

Sub-Total on Construction Cost $ 31,041,288.00

B STATUTORY CONTRIBUTION1 Planning & Approval Charges 0.05% of Gross Development Cost $ 15,520.64 2 Plan Fees ( Building Plan) 0.025% of Gross Development Cost $ 7,760.32 3 Development Charges 2% of Gross Development Cost $ 620,825.76 4 IWK Contribution 1% of Gross Development Cost $ 310,412.88 5 TNB Contribution 0.5% of Gross Development Cost $ 155,206.44 6 Quit Rent & Assessment RM 20,000.00 per acre per year 20,000.00*3 $ 60,000.00 7 Stamp Duty8 Legal Cost9 Syabas Contribution 0.2% of Gross Development Cost $ 62,082.58

Sub-Total on statutory contribution $ 1,231,808.62

C PROFESSIONAL FEES1 Architects & Town Planner 2% of Construction Cost $ 559,841.60 2 Civil & Structural Engineer 1.2% of Construction cost $ 335,904.96 3 M & E Engineer 1% of Construction Cost $ 279,920.80 4 Quantity Surveyor 0.7% of Construction Cost $ 195,944.56 5 Project Management Fees 1% of Construction Cost $ 279,920.80 6 Traffic Consultant RM 10,000.00 $ 10,000.00 7 Soil Investigation RM 30,000.00 $ 30,000.00 8 Valuer

Sub-Total Professional fees $ 1,691,532.72

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D Financing Cost1 Bank Interest 8% at Bridging Loan of RM 7 Million 8% * 34mil* 2.5 year $ 6,800,000.00

E CONTIGENCIES1 Allow for Contigencies & Inflation 3% of Construction cost $ 889,250.52

TOTAL GROSS DEVELOPMENT COST $ 41,653,879.86

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FINANCIAL ANALYSIS FOR THE DEVELOPMENT OF APARTMENT BLOCKSPARTICULAR AREA (SQ FT) CONSTRUCTION COST TOTAL COST

A CONSTRUCTION COST

1 Car park Basement 71,677 $ 90.00 $ 6,450,930.00 2 Car park Podium 460,890 $ 70.00 $ 32,262,300.00 3 Apartment 1,193,600 $ 110.00 $ 131,296,000.00 4 Foundation 5% of Construction Cost $ 8,500,461.50 5 Infrastructure & Landscape 1,265,277 $ 5.00 $ 6,326,385.00 6 Preliminaries 5% of Construction Cost $ 5,545,082.30

Sub-Total Construction $ 190,381,158.80

C STATUTORY CONTRIBUTION1 Planning & Approval Charges 0.05% of Gross Development Cost $ 95,190.58 2 Plan Fees ( Building Plan) 0.025% of Gross Development Cost $ 47,595.29 3 Development Charges 2% of Gross Development Cost $ 3,807,623.18 4 IWK Contribution 1% of Gross Development Cost $ 1,903,811.59 5 TNB Contribution 0.5% of Gross Development Cost $ 951,905.79 6 Syabas Contribution 0.2% of Gross Development Cost $ 380,762.32 7 Strata Title Survey Fees RM 1000.00 per unit Apartment 904* 1000 $ 904,000.00 8 Quit Rent & Assessment RM 20,000.00 per acre per year 20,000.00*3 $ 129,000.00 9 Other Authority Contribution ( Allow)

10 Stamp Duty 5% of 337,260,00.00 $ 16,863,000.00 11 Legal Cost RM 600.00 per unit Apartment 600*904 $ 542,400.00

Sub-Total Statutory Contribution $ 25,625,288.74

D PROFESSIONAL FEES1 Architects & Town Planner 2% of Construction Cost $ 3,696,721.53 2 Civil & Structural Engineer 1.2% of Construction cost $ 2,218,032.92 3 M & E Engineer 1% of Construction Cost $ 1,848,360.77 4 Quantity Surveyor 0.7% of Construction Cost $ 1,293,852.54 5 Project Management Fees 1% of Construction Cost $ 1,848,360.77 6 Traffic Consultant RM 10,000.00 $ 10,000.00 7 Soil Investigation RM 30,000.00 $ 30,000.00 8 Valuer 0.25% of Gross Development Value 0.25%* 337,260,000 $ 843,150.00

Sub-Total Professional fees $ 11,788,478.51

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E COMPANY OVERHEADS1 Adminstration & Management 1% of Grosss Development Value $ 2,707,680.00 2 Advertising, Promotion & Marketing 1% of Grosss Development Value $ 2,707,680.00

Sub-Total company Overhead $ 5,415,360.00

F Financing Cost1 Bank Interest 8% at Bridging Loan of RM 15 Million 8% * 15mil* 2 year $ 2,400,000.00

G CONTIGENCIES1 Allow for Contigencies & Inflation 3% of Construction cost 3%* 209,901,676.50 $ 5,545,082.30

H LAND CONVERSION 1 Land Conversion Premium 15% of Land Cost 15%* 62,271,548.00 $ 9,340,732.20

TOTAL GROSS DEVELOPMENT COST $ 250,496,100.55

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$ 170,009,230.00

$ 184,836,076.50