RAFCO INFORMATION PROSPECTUS 2012

“Our vision is to be a leading global real estate group working with the world’s top businesses, governments and other institutions to deliver economic, environmental and ethically sustainable property investments for our clients”. Mr. Rafed Abdul Mohsin Bader Al Khorafi Chairman, Rafco International Real Estate KSC

2

Welcome

We are delighted to welcome you to Rafco International Real Estate KSC, a private real estate developer mandated by the distinguished Al Khorafi family to develop a diversified portfolio of high quality real estate assets, including prime urban residential, commercial, mixed use and hospitality / tourism assets across the Middle East and Levant.

Contents

1.0 welcome 3 2.0 discover RAFCO 4 3.0 fact file 5 4.0 our projects 6 Kuwait 7 Jordan 9 United Arab Emirates 16 5.0 thank you 17

3

Discover RAFCO

4

Operating across the EMEA, RAFCO partners a network

of highly responsive companies across the Khorafi

National Group, to provide private clients , institutions

and authorities with innovative solutions for the

construction, design, operation, maintenance and

funding of their property and project developments.

From 2008, RAFCO has expanded its strategic areas of

business beyond construction to include the operation

and maintenance of capital projects, building a presence

in the emerging field of BOT and PPP projects. Privatized

project modeling utilizes the company’s strength pre &

post construction, via financing, facilities/asset

management and general business operations.

Name of company: Rafco International Real Estate KSC Company type: Kuwait Shareholding Closed Company Incorporation date: 21st May 2006 Registration number: 115040 Head office location: Level 2, Dawliah Commercial Center Fahed Al Salem Street, Kuwait City, State of Kuwait Capitalization: KD 10,022,500 [USD 36.37m]

Mr. Rafed Abdul Mohsin Bader Al Khorafi, Chairman Mr. Al Khorafi is the second generation of one of Kuwait's most distinguished families in parliamentary politics, education and business. The son of Mr. Abdul Mohsin Bader Al Khorafi, the foundation of Mr. Al Khorafi’s commercial success was in real estate construction and investment, a legacy RAFCO is proud to continue.

Mr. Benjamin C Ganley, Chief Executive

Benjamin is an accredited member of the Royal Institute of Chartered Surveyors, Australian Property Institute, Project Management Institute, Australian Marketing Institute and Institute of Directors, London. He holds a Bachelor of Commerce degree from Charles Darwin University, Australia, where he also served as a University Foundation Board Member.

Fact file

5

“RAFCO adheres to rigorous due diligence procedures, driving shareholder value through efficient and effective capital structures, re-investing P&L returns into pipeline opportunities to foster long term, sustainable shareholder growth”. Mr. Benjamin C Ganley, CEO, Rafco International Real Estate KSC

Our projects

6

Abdul Mohsin Bader Al Khorafi Tower, Kuwait

7

Project: ABDUL MOHSIN BADER AL KHORFI TOWER Location: Al Sharq district of Kuwait Client: Rafco International Real Estate KSC Land extent: 1,000 Sqm Land val: USD 24 million BUA: 16,020 Sqm Terminal val: USD 65 million Handover: Q2, 2013 Tenancy: 15 year FRI pre-lease to Gulf Business Machines

Status: Concrete works for basement walls and columns complete Services and lift core constructed to 4th floor Preparatory work for pouring of 1st floor slab in progress Highlights: 36 level, A-Grade commercial office tower GF and Mezzanine retail space Dual basement parking with car lifts IBM Building Automation System

Low Cost Housing, Kuwait

8

Project: KUWAIT LOW COST HOUSING Location: 45km from Kuwait city, West of Jahra city and 4km south of Al Salmy Road Client: Owner consortium: Low Cost Housing Company KSC; Rafco International Real Estate KSC and AECOM Land extent: 8.42 Sq Km Project cost: USD 1.325 billion Term: 40 year Build-Operate-Transfer (BOT) Status: EOI docs submitted to PAHW Nov 2011 Dec-Mar 2012 PAWH shortlist applicants

Project summary: Design, execution, operation and maintenance of 9, 696 low cost houses, including service buildings yielding investment return and non-profit buildings for the project, and investment commercial district. In addition to sites allocated for public utilities, roads and infrastructure networks, etc. per the details given by Public Authority for Housing Welfare.

Hilton Hotel and Residences Amman, Jordan

9

Project: HILTON HOTEL AND RESIDENCES AMMAN Location: Plots 1767 and 1899, Block 20, Zahran Street, South Um Uthaina, Amman Client: Private Jordanian shareholding company Land extent: 9,409 Sqm Land val: USD 30 million BUA: 65,000 Sqm Terminal val: USD 300 million Handover: Q1, 2014 Hotel operator: 20+10+10 term signed with Hilton International Manage LLC

Status: Municipality approved schematic drawings Early stage site works Highlights: 350 guest rooms (rooms size 37-42 sqm) 150 serviced apartments All day dinning 180 seats, Roof top restaurant, 1,500 person ballroom and 4 meeting rooms Spa, health club and swimming Pool Projected stabilized Hotel occupancy is approx 72% with an average rate of USD132

Conrad Hotel Amman, Jordan

Project site as at January 2012

10

Jordan Gate King Hussein Airbase

11

Project: CONRAD HOTEL Location: 6th Circle junction, 20 minutes from Queen Alia International Airport Client: Rafco International Real Estate KSC Land extent: 28,500 Sqm BUA: 225,000 Sqm Terminal val: USD 300 million Handover: Q2, 2013 Hotel operator: Provisional terms agreed with Hilton International Manage LLC Status: EOI submitted to owner consortium Dec 2011 Project summary: His Majesty King Abdullah on May 29, 2005 laid the foundation stone for the Jordan Gate project, the first phase of the billion dollar GFH’s Royal Metropolis plan. Jordan Gate is one of the main projects of the USD 1.3 billion-plus Royal Metropolis, creating a futuristic and iconic development in the heart of Amman. At 44 floors, the building is considered to be Jordan’s most prominent architectural landmark and comprises two high-rise towers connected by a multistory podium and premium retail shopping mall.

Project: KING HUSSEIN AIRBASE REDEVELOPMENT Location: Mafraq, Jordan – 60 km northeast of the capital Amman at the nexus of a road network connecting Jordan, Syria, Iraq and Saudi Arabia. Client: Rafco International Real Estate KSC Land extent: 21 Sq Km Project vision: AEROTROPOLIS is a new kind of urban form, which links a physical airport to mixed use development. Status: Exclusivity Agreement signed between Rafco International Real Estate KSC and the Jordanian Ministry of Transport to prepare financial and technical studies including site lay out, business plan, financial model and operator credentials in view of submitting a proposal for construction, redevelopment operation and financing of the project. Project summary: With a revitalized and redeveloped King Hussein Airbase at its core, the project is envisioned as a new state of the art, inter-model logistics and transit hub to serve the region. Reviving Mafraq’s long history as a transportation crossroads, it will serve not only the immediate transport needs of site manufacturers, but it will also become a new focal point for third party, value added logistical activities. Development in the logistics and transport cluster is envisioned to include standard storage facilities and depots, robust loading/unloading infrastructure, rail/road and air/road transfer stations.

8

King Hussein Airbase Re-development, Mafraq, Jordan

12

Residential Golf Course Development, Jerash, Jordan

13

Project: RESIDENTIAL GOLF COURSE DEVELOPMENT Location: Jerash, Jordan Land extent: 2.1 Sq Km The proposed residential and golf course development is on the hills immediately to the east of Jerash. The site occupies a main ridgeline and its slopes with unobstructed views across the town and to the world famous Roman city some 3 kilometers away. The attractive natural setting and its location near to the second most visited site in Jordan, close to the main highway link to Amman (35 km to the south) provides a prime venue for the proposed residential, leisure and tourism oriented development. Residential: 300 – 350 number, residential villas on average 1,000 Sqm plots. Golf Course: 18 hole course located to the upland areas to maintain a natural ridgeline and the backdrop of the pine forests. Club House and Resort Hotel (200-400 keys): On the hill top and set within the pine forests towards the southern end of the site. Town Centre Development: Mixed use facility including community and retail services for the local residents and tourists. Maintenance and Plant Nursery: Located alongside the Al Zarga Road and will provide the back of house facilities for the development and stables where visitors can hire out horses. Horse Riding and Recreational Trails: A horse riding / recreational trail could also be provided around the golf course.

Mixed Use Development, Amman, Jordan

14

Project: THE VILLAGE Location: Dabouq, Amman Client: Private Jordanian shareholding company Land extent: 17,000 Sqm Land val: USD 15 million BUA: 28,500 Sqm Terminal val: USD 40 million Completion: Q2, 2013

Status: Municipality approved schematic drawings Detailed construction tender docs Project summary: A trendy and stylish vision in one of Amman’s exclusive new neighborhoods, The Village brings together 28,500 Sqm of residential, office, retail, entertainment and parking into a comprehensive, mixed-use, lifestyle complex. Against a background of natural oak forest, this modern development will move with you into the future while retaining the areas unique character.

Residential Development, Amman, Jordan

15

Project: RESIDENTIAL DEVELOPMENT AMMAN Location: Plot 11, The New Badr, near Hashemite Castle and Queen Noor Mosque Client: Private Jordanian shareholding company Land extent: 11,600 Sqm Planning: 22 X 750 Sqm premium villa plots Zoning: Category B – build up to 40% site, up to 3 levels (incl roof terrace) per villa Completion: Q4, 2012

Hilton Hotel and Conference Center, Abu Dhabi

16

Project: HILTON HOTEL AND CONFERENCE CENTER Location: Plot EW08 Sowwah Island, Abu Dhabi Client: Rafco International Real Estate KSC / MCJV Land extent: 6,552 Sqm Land val: USD 75 million BUA: 105,000 Sqm Terminal val: USD 410 million (year 5) Handover: Q1, 2014 Development: 350 guest rooms & 170 serviced apartment Hotel operator: Provisional terms agreed with Hilton LLC

Status: Municipality approved schematic drawings Project summary: The project occupies a 6,552 sq/m waterfront site in proximity of the Abu Dhabi Securities Exchange, the Cleveland Clinic and a large office community currently under construction. The development includes five F&B outlets, function space of around 1,000 sq/m, a business centre, an Executive Lounge and a health club. A retail frontage of 2,480 sq/m is planned along Sowwah Island’s corniche promenade.

Benjamin C Ganley Chief Executive Rafco International Real Estate KSC Level 2, Dawliah Commercial Center Fahad Al Salem Street, Kuwait City P.O. Box 3168, Safat, 13032

KUWAIT T + 965 651 87 597 + 971 566 141 266 + 962 787 899 301 E b.ganley@rafco.com.kw Thank you for your interest in Rafco International Real Estate KSC. DISCLAIMER This Company Profile has been prepared by Rafco International Real Estate KSC (“RAFCO”) to inform prospective entities of direct and indirect company activities.

The Company Profile does not purport to be all inclusive or to contain all of the information that a recipient may desire or should obtain. Any reference to future market conditions should be regarded as estimates only of future market possibilities. The process of making forward projections involves assumptions about a considerable number of variables and contingencies which are acutely sensitive to changing conditions. No representations or warranty’s, express or implied, are given that these future matters will occur or that any expected future performance will be met. Subject to any law to the contrary and to the maximum extent permitted by law, RAFCO and its employees disclaim all liability for any loss or damage suffered or incurred by a person acting or relying on the information provided in, or omitted from, this project pipeline summary report.

© Copyright Rafco International Real Estate KSC – all rights reserved.

17

For all enquiries and further information, please contact: