Prestige Business Center

Prestige office building designed in the architectural tradition and in keeping with geobiological considerations.
Income in euros, dollars or any other currency is net of tax.

The project is located in the export free zone in Tangier, Morocco. This city, booming since the accession of His Majesty King Mohammed VI, has become an essential hub of the Mediterranean basin. With the largest container port in the Mediterranean and motorway links to the major cities of Morocco and the Maghreb, Tangier will be the first city on the African continent with a high-speed train (TGV) linking Rabat and Casablanca. The redevelopment of its seaport into a marina will also make it a major yachting destination. All the major unfinished projects are due for completion by 2015, whereupon Tangier will become one of the great Mediterranean hubs on the southern border of Europe.

1. The MED port, the largest container port in the Mediterranean (USA–China line), second phase nearing completion
2. The marina in Tangier city, which will replace the current port (planned for 2015)
3. The Tangier–Tunis motorway link via Algeria (opening 17 May 2011)
4. The Tangier–Agadir motorway link (completion this year)
5. The Tangier–Rabat TGV link in 2012 and Tangier–Casablanca in 2014
6. The Renault Nissan plant (the most modern in the world for this group, to be completed in 2011)

Wishing to enjoy their retirement, the principal directors of this Free Zone Business Center have decided to sell their businesses in Morocco. The owning company was incorporated in the free zone in 2004, and its building was completed in 2009. The company benefits from the tax advantages of the free zone, namely:
1) Corporate tax (IS) exemption for 5 years, then a reduced rate of 8.75% for the following 15 years.
2) Exemption from registration duties
3) VAT exemption.
4) Dividends and return on investment free, without going through exchange controls
5) Tax exemption for foreign partners
Companies in the free zone invoice and collect their services in foreign currency; the use of foreign currency is unrestricted, without going through exchange controls.

The Business Center has strong rental potential for the many companies wishing to establish themselves in the Tangier free zone, ranked 8th worldwide. However, since the inauguration of its building and with a view to resale, the company has limited itself to commercial domiciliations without taking long-term leases, in order to leave the building free for companies wishing to acquire premises for their own needs.

The sale concerns 3 separable elements, namely:
1) The building (price €2.25M)
2) All the IT and telephone equipment and the furniture (price €0.5M)
3) 100% of the company's shares (price €0.3M)

These prices are very competitive because:

1) for the building, this represents a cost price of around €1,000 per built m² (land included), whereas today the cost price per m² of high-end space is around €1,200 (without land).

2) The IT equipment and furniture are sold at cost. They were purchased in France (50% cheaper than in Morocco) with a 30% discount.

3) The sale price of the company's shares represents less than 5 years of profits, with current-account balances of around €1M to be recovered by the buyers.

For buyers wishing to continue operating the company, the center is currently managed by staff of the group's trust company; the center's operating costs are re-invoiced as rental charges, so the company has no fixed costs to bear.

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A complete file will be sent upon presentation of an LOI (Letter Of Intent); it includes a presentation brochure of the building in the Tangier free zone, as well as a provisional operating account based on conservative projections. This provisional account includes: the current rate per rental space, turnover data based on occupancy rates, the turnover from services, the actual charges (high calculation bases) and the result over 5 years, including the calculation of return on investment based on the value of the building.