Contents

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About Bodrum

Tuzla Village Project

Reasons to Invest

General FAQ

Legal FAQ

Financial Returns

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BODRUM

Welcoming over 3 million domestic and foreign tourists from every country of the world, Bodrum region is the 2nd most important holiday

destination in Turkey, while it is the top destination in the Aegean region.

Bodrum Peninsula is establishing itself as a pre-

ferred destination for the sophisticated traveller

and one of the Mediterranean’s most exclusive

leisure destinations. With its spectacular coast-

line on the Aegean Sea and temperate climate,

the Turkish Riviera offers visitors a stunning com-

bination of pine-clad mountains, private beach-

es and charming coastal villages adorned with

bougainvillea.

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AIRPORT SHOPPING

NIGHT LIFE

MARINE

HISTORICAL SIGHTS

NATURAL RESORTS

Bodrum Airport is an international airport serving 3 million

passengers per year on average. It is 18 km to Milas and 35 km

to Bodrum.

In addition to stores of numerous renowned brands, the local shops

large and small where leather products, quality linen (peshtemal),

jewelry, etc., specialities to Bodrum, are sold on the decorative streets.

The local bazaars established on different days of the week are colorful

places where the local products are sold.

The night life is as lively as the day life in Bodrum. Many bars, restaurants,

and night clubs remain open into the small hours with live music nightly in

the very busy Yacht Club and for the young at heart the largest night club in

Europe The Halikarnas. Or spend the night at sea on the world famous

floating Catamaran night club.

There are 3 large Marina’s hosting super yachts of the rich and famous

from all over the world: Milta Marina (Bodrum), D Marine (Turgutreis),

and Palmarina (Yalıkavak).

Bodrum peninsula has numerous historical sites like the Ancient

Amphitheatre, Bodrum Castle and the Myndos Gate and close by are

the protected sites of Ephesus Temple of Artemis, Temple of Apollo,

and Iassus.

Having numerous natural bays cause of its geographical structure, the Bodrum

Peninsula is ideal for water sports. It provides numerous activities like snorkel

diving, windsurfing, water-skiing jet-ski, para-ski, etc. One of the other popular

activities in the region is the daily or weekly boat trips on the famous wooden

Gullet’s of Bodrum. Paragliding, trekking, riding, and safari’s are also popular

activities as Bodrum is a mountainous region covered by green forests.

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TUZLA VILLAGE

Covering an area of 300,000 m² (3.2 million sqft.), the Tuzla Village project is a 5-star Holiday Re-

sort concept comprising hotel and a total of 1100 residences of apartments and villas of different

sizes and designs. The holiday resort is 6 km to Bodrum International Airport, 24 km to Bodrum

downtown, and located on the Milas-Bodrum highway.

Enjoying a location immediately opposite to the PGA standard golf course and at the center of

4 ongoing golf course projects and shopping malls. Tuzla Village is now one of the largest projects

in the region.

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Location

Bodrum

İstanbul

TURKEY

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View From The Site

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Site Overview

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With 5 Star Hotel and Spa, 350 1 bed, 350 2&3 bed residences, 350 standard and 50 exclusive villas. Tuzla Village Resort is one of the largest and exclusive developments on the Bodrum peninsula. The resort is designed to cater both for summer and winter guests .

In the Resort, apart from the 5 Star Hotel and Spa complex, there will also be shops, cafés, restaurants, bars, medical centre, business centre, outdoor cinema and for the sports activities, a full size soccer pitch, both indoor and outdoor swimming pools, fitness centre, 18 hole PGA standard golf course, children’s play grounds and many parks.

Overview

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Meeting the 5-star hotel standards, having the neces-sary licenses and authorizations, located strategically at the highest point overlooking the region, the first target of the hotel is to control and organize the commerce in Tuzla Village life and holiday center. For operation of the hotel, negotiations with the chain hotel operators of the renowned global brands are continuing.

In addition to the amenities of Tuzla Village, the Hotel offers numerous activity and event facilities such as fit-ness center, spa center, Turkish bath, sauna, indoor and outdoor swimming pools, outdoor movie theater, restau-rants, and meeting hall.

Hotel

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The residences are composed of totally 350 units with 1, 2 and 3-room options. The residences connected to the “Hotel Booking” system will be rented out in the periods when they are not used by their owners, unless they are removed from the system upon a private request, and the acquired operating return will be distributed to the property owners on pro rata basis.

Residence

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One Bedroom 50 sqm / 538 sqft

Two Bedroom 101 sqm / 1087 sqft

Three Bedroom 101 sqm / 1087 sqft

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The project also includes 350 standard and 50 exclusive villas. Each villa has its own private swimming pool, unless they are removed from the system upon a private request, these villas also will be rented out in the periods when they are not used by their owners depending on the “Hotel Booking” system, and the acquired operating return will be distributed to the property owners on pro rata basis.

Villa

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Standart Villa115 sqm / 1237 sqft

Exclusive Villa180 sqm / 1937 sqft

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Work In ProgressConstruction work has already begun on The Hotel and the first phase of 40 Villas and Apartments is near completion.

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Reasons to Invest

Most Popular Investment Region in the Last Period

1. The Tuzla region of Bodrum is now the No. 1 choice with Investors both big and small.

2. Large companies have been making considerable investments in golf courses, hotels,malls and housing projects in the region.

3. The current golf course which is PGA standard has been bought by the group of companies which also owns the biggest private bank in Turkey.

4. One of Turkeys largest private companies has begun work on a 5 Star golf course and housing project.

5. There are now a further four golf course projects un-derway in the vacinity.

Nearness to Airport

6. The Tuzla Village Project is just 6 km to Bodrum airport and located on the main road.

A Large-Scaled Project

7. Tuzla Village is presently the largest Hotel and Resi-dental Holiday development on the Bodrum Peninsula.

High-Quality Construction

8. Tuzla Village is overseen by experienced professionals in Architecture, Design and Construction. All materials used meet the highest quality standards.

An Opportunity for Return-yielding Investment

9. The annual revenues of the facility will be distributed to the property owners pro rata to their shares of invest-ment through the revenue sharing system to be estab-lished based on the hotel management within the scope of Tuzla Village resort.

High Income Rates

10. A continuous income is guaranteed as tourism grows rapidly in this region. Bodrum is Turkeys most popular holiday destination for both locals and foreigners alike.

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General FAQ

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What is the size of the development?The Land is over 300,000 m2 (over 3 million sq ft). The constructed area will be approximately 90,000 m2 (970,000 sq ft).

When will the construction be completed?Estimated completion date of the whole development is March 2018. However, there are a number of phases which will be complete within 24 months.

Who is the developer?Bodrum Ege Gayrimekul Ltd. Est: 2004. Developer and Landowner.

What are the experiences of the developer team?Directors have completed projects all over UK & Ireland and at present developing in both Belfast & London.

Who is the operator?Directors have completed projects all over UK & Ireland and at present developing in both Belfast & London.

What facilities will be available?To mention few; Spa centre, Fitness centre, Business centre, Turkish bath, Indoor & Outdoor swimming pools, Restaurants, Cafes, Shops, Bars & etc.

What Hotel services and facilities can I have as an investor?As an investor you have full access to all facilities and services.

Am I restricted to the amound of time I may use the unit?There will be no restrictions to the amount of time you choose to stay in your property. With a total number of 1100

units within the resort there will be sufficient available units to welcome hotel guests.

How will I connect my unit to the rental system?Each unit is automatically attached to the hotel and income system unless owners choose otherwise.

How will the revenue system will work?Returns are calculated according to the size and number of properties. Basically larger units have more shares and you can purchase as many units as you prefer. The whole system is explained in the financial returns section.

Who is going to look after my property?An Independent Management Company will look after your property. This company will also be responsible for the maintenance of the whole site to include swimming pools, gardens, public areas, roads, footpaths etc.

Will the price increase during the construction period?The prices will increase more than double during the construction period.

If I am not in the rental system can I still use the Hotel services & facilities?Yes, once you purchase a property you automatically gain full membership to hotel and all facilities.

Does the units come fully furnished?All the movable furniture will be extra. There will be different packages available to fit the outline of the resort concept.

Will there be security on the site?Yes, 24 hours security will be in operation.

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Legal FAQ

What is the ownership structure?All the properties are free hold.

Will I own a specific unit or a share of the development?You will own the property you invest in. The hotel system will generate additional income for all property owners.

Am I free to sell at anytime?Yes you are free to sell your property at any time.

How will the transfer of the title deed proceed?The Title Deed process is simple and can be completed once Military Permission has been obtained.

How does the millitary permission work?Military Permission takes between 6-8 weeks to obtain.

Do I need a Solicitor?No but we recommend you seek Legal Advice for your own comfort.

What costs, local taxes, fees etc applicable during the trans-fer of the properties?Total costs are approximately 4 % of your purchase.

Will there be a monthly management fee?Yes, the monthly management fee will be approximately £50 per apartment and £100 per villa.

Are the units fully insured?The hotel and all of the units and facilities will be fully insured.

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Financial ReturnsThe hotel system will generate additional income for all property owners. Each unit is attached to the hotel and in-come system unless owners choose otherwise. Returns are calculated according to the size or number of properties they choose.

Basically larger units have more shares and you can purchase as many units as you prefer as today’s sales prices are specifically for investors which pays back high returns per year. The prices will more than double during the con-struction period with your investment also providing a capital gain.

In order to carry out the system in the most profitable and premium manner, the hotel will be operated by one of the world-renowned chain hotels. The top-priority target of Tuzla Village Resort is to distribute the service quality to each point of the concept by gathering its hotel, residences and villas under a single roof, on the basis of its opera-tion system.

Therefore, the design stage of Tuzla Village resort has been considered scrupulously, the top-quality materials have been selected for the construction, all details and services of the facility have been planned to meet the quality stan-dards of a 5-star hotel.

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Occupancy Rate

Operational Revenues

Room Rate

Other Revenues

The occupancy rate of the facility has been calculated on the basis of the annual general occupancy rates in Bodrum region. The calculations are based on the num-ber of foreign tourists who enter the Bodrum Interna-tional Airport by having their passports recorded, as de-clared by Bodrum Chamber of Commerce. The detailed figures are given in the following table.

The revenues to be acquired from the food & beverage and other services in the facility will be calculated in the same way and distributed to the property owners ac-cording to their shares of investment. And this part of the system will also be operated by the operator brand to be selected. The main purpose here is to increase the net income of each investor by obtaining maximum revenues through high-quailty services.

When calculating the revenues, two scenarios have been created; lowest one is based on a price level below £100 that is lower than the minimum prices applied in similar grade facilities in Bodrum region. Based on this scenario, the minimum accommodation revenues of the facility is starting from 15-26 million pounds (£).

These projections are based on 7 months occupan-cy only and will increase with the opening of planned Golf Courses in this area. Plans are now underway for a soccer pitch to accommodate the Premiere League footballers who have purchased villas on Tuzla Village and would target teams from all over Europe and UK for pre-season training.

As can be seen in the table, the period from April to October, especially July and August, is the peak period for tourism.

The estimated occupancy rates of the hotel by months have been calculated in proportion to these data.

Considering the average of 7 months from April to September (214 days), the occupancy rate is 64%, corresponding to 137 days.

Number of Tourist Arrived to Bodrum International Airport during 2011Data supplied by Bodrum Chamber of Commerce

April May June July August September October Total

39.892 132.758 172.962 213.505 203.020 168.199 78.893 1.010.657

Estimated Occupancy According to the Data

April May June July August September October Total

30% 60% 70% 85% 85% 70% 50% 64%

Total Number of Nights 214

137

7 months

Average of Occupancy 64%

No. of Nights Occupied

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Revenue Calculat ions

C a l c u l a t i o n s A c c o r d i n g L o w Av a r a g e R a t e s

Calculations According the Diversity of Units

One Bedroom Residence

2 & 3 Bedroom Residence

Standart Villas

Exclusive Villas

Total Figure

350

350

350

50

1100

£75

£100

£120

£180

137

137

137

137

£3.596.250

£4.795.000

£5.754.000

£1.233.000

£15.378.250

Minimum Ratesper Night

Number of Units Average Occupancy Rate of 64%Out of 214 days

Revenue Generated from the Rental of Rooms

Excluding Food, Beverage & Other Services

C a l c u l a t i o n s A c c o r d i n g N o r m a l Av a r a g e R a t e s

Calculations According the Diversity of Units

One Bedroom Residence

2 & 3 Bedroom Residence

Standart Villas

Exclusive Villas

Total Figure

350

350

350

50

1100

£100

£140

£200

£350

137

137

137

137

£4.795.000

£6.713.000

£9.590.000

£2.397.500

£23.495.500

Minimum Ratesper Night

Number of Units Average Occupancy Rate of 64%Out of 214 days

Revenue Generated from the Rental of Rooms

Excluding Food, Beverage & Other Services

This is based on statistics - Luxury Hotels in Bodrum Peninsula have an occupancy rate of over 70% andADR between £100 to £4.000, and it is continually attracting visitors who are looking for an exceptional experience.

Operat ional Revenues

Total Income per Season

The calculations have been made targeting the estimated daily net return per person and the average number of people that the facility will entertain through the season. The operating revenues covers intially the food & beverage revenues and then all the other paid services to be given in the resort; e.g. commissions to be acquired from the tours and excursions, the onsite rental incomes, and the other similar activities such as spa, health care, etc...

These calculations were made considering the low and normal average room rates, and both results have been specified separately.

These calculations may change according to the various business criterias that involves per season. The numbers are just to give an idea

and not binding.

Total Rental revenue / per season

Total Operational revenue / per season

Total Revenue / per season

£15.378.250

£11.987.500

£27.365.750

Low Avarage Room Rate

Normal Avarage Room Rate

£23.495.500

£11.987.500

£35.483.000

Total guest / per season

Net daily profit / per person

Operational revenue / per day

Avarage occupancy / per season

Total Operational revenue / per season

3500

£25

£87.500

137 days

£11.987.500

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Another issue we have considered to reach the net results when making the calculations is the costs, operating costs and taxes.

These expenses include the payment to be made to the operator hotel company, the operating expenses, the management costs and taxes. The revenues to be acquired from the food & beverage and the other

services have been included in the calculations considering the estimated net profitability from their total net income.

During the calculations of the net profit, all operating withholdings, the income tax that is 20% in Turkey and the maintenance expenses of the entire resort have been deducted from the income figures.

Calculations According to Low Avarage Room RatesNet Income Ca lcu la t ions Calculations According to

Normal Avarage Room Rates

Revenue from Room RentalsExc. VAT

Operator’s Fee

Operating Expenses

Net Additional Incomefrom Operational Activities

Total Income

£307.565

£2.460.520

2%

16%

£469.910

£3.759.280

Operator’s Fee

Profit Before Taxation

£1.475.860

£23.121.805

6% £1.875.229

£29.378.581

Management Expenses

Corporation Tax

£2.459.767

£4.132.408

10%

20%

£3.125.381

£5.250.640

Net Profit £16.529.631 £21.002.560

Earnings per Share £20182250 £255

£15.378.250 £23.495.500

£11.987.500 £11.987.500

£24.597.665 £31.253.810

According to the table above, the multiplication number of each unit with its own share amount gives the total number of shares in the resort. Net income is divided to the total number of resort shares which gives the earnings per share. When earnings per share is multiplied with each unit’s own share, the final figure indicates net income per unit.

In order to distribute the general income to each investor in an equal proportion, the share calculations were made considering of each unit’s m² (sqft.) investment cost.

One Bedroom Residences

Two & Three Bedroom Residences

Standart Villas

Exclusive Villas

Total Amount

Number of Units

Shareper Unit

Numberof Shares

£201 / per share

£255 / per share

Net IncomeAccording to

Low Avg. Room Rates

Net IncomeAccording to Normal Avg. Room Rates

350

350

350

50

40

60

110

175

14000

21000

38500

8750

£8.040

£12.060

£22.110

£35.175

£10.200

£15.300

£28.050

£44.625

1100 Total No. of Units

82250Total No. of Shares

Share o f the Revenue

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Other Resorts

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