lanitis group organizational structure the lanitis group of companies amathus navigation cybarco...
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Lanitis Group Organizational Structure
The Lanitis Group of
Companies
AmathusNavigation
Cybarco Lanitis Farm
Water Mania
NPLanitis
CyprusPopular Bank
LanitisDevelopment Ltd
Amathus Beach HotelPaphos Amathus Hotel
Rodia Beach HotelAviationShippingTourism
Holidays (UK)
ConstructionDevelopment
Citrus Waterpark FertilisersElectrical
10%Aphrodite HillsOther ProjectsAphrodite HillsOther Projects
LANITIS DEVELOPMENT LTD
APHRODITE PROJECT 2 PROJECT 3 PROJECT 4
HOTELVacation
Club SPA GOLF
REALESTATE
Lanitis Development Strategy
Property Management
Board of Directors
• Platon E. LanitisPresident of Lanitis Group
• Marios E. LanitisExecutive Director of Lanitis E.C Holdings
• Costas E. LanitisChairman of Claridge Investments Ltd
• Spyros PapasDirector Global Finance SA
• Ioannis C. ArchontidesVice-Chairman of Amathus Navigation
• Tony YerolemouChairman and Managing Director of Katsouris Fresh Foods Ltd
• Aliki Eliades PantelidesOwner of Vasos Eliades Ltd
• Michalakis HadjikyriakosExecutive Director of Thamira Food MFRS Ltd (Bakandys)
Capital Structure
34,000,000 TOTAL DEBT
3,000,000 Commercial Bank of Greece
6,000,000 Alpha Bank
7,000,000 Hellenic Bank
9,000,000 Cyprus Popular Bank
9,000,000 Bank of Cyprus
Debt Commitment
33%Private Placement
13%Global Finance SA
9%David Family
45%Lanitis Estates
Major Shareholders
34,000,000 Debt
35,164,000 Equity
Capital Structure
LDL Actual 2002, 2001 & 2000
LANITIS DEVELOPMENT LTD
Consolidated results
For the years, 2000, 2001 and 2002
2002 2001 2000
CYP CYP CYP
Turnover 5,221,684 7,274,422 7,563,404
Profit before Taxation 3,416,637 3,175,192 2,760,685
Taxation (980,832) (962,560) (756,477)
Profit after Taxation 2,435,805 2,212,632 2,004,208
Current Organizational Structure
LANITIS GROUP = 45%DAVID FAMILY = 9%
GLOBAL FINANCE SA = 13%OTHER = 33%
Golf and Clubhouse
Aphrodite Vacation Club
Hotel - Spa & Tennis Academy
- Village Square
- Property Management
- Rentals
Real Estate
Aphrodite Hills
•300 metres from the sea•15 minutes fromPafos International Airport
•234 hectares of spectacular landscape
•6,000 olive and carob trees•340 days of sunshine every year!
Specific Areas of the Resort
Inter-Continental Hotel
Shops & Restaurants
Health & Spa
Clubhouse
Tennis Academy
418 Villa Plots
Touristic Development
400 Apartments & Townhouses
Sales progress report up to July 2003Accumulated
SummaryNumber Number Amount Amount Number Price
sold remaining received owed reserved Agreed
Plots 310 98 C£17,655,814 C£448,355 19 C£1,862,000Villas 64 144 C£7,092,764 C£10,766,302 34 C£9,631,220Apartments 101 193 C£7,735,071 C£6,321,867 14 C£3,375,800
---------- Sales ---------- --- Reservations ---
Sales Analysis Up to June 2003
BREAKDOWN BY NATIONALITY
Sales & Reservations
%CYPRIOTS 16.4%U.K. 57.0%IRELAND 5.6%AUSTRIA 0.7%CYPRIOTS OTHER 7.0%U.K. EXPATS 8.2%OTHER 5.1%TOTAL 100%
BREAKDOWN BY DIRECT/ AGENT
Sales & Reservations
%DIRECT 48%PRML 47%SAVILLS 3%OTHER 2%TOTAL 100%
DATE PRICE DATE PRICE PER M2 PER M2
ORPHEUS VILLAGE JAN 01 867 CYP PLOTS 26.09.2000 36.50APARTMENTS SEPT 01 1014 CYP 16.10.2000 38.50
30.01.2001 44.00HELIOS HEIGHTS AUG 01 1014 CYP 30.03.2001 50.00APARTMENTS OCT 01 1037 CYP 30.06.2001 55.00
DEC 01 1057 CYP 30.10.2001 58.00JAN 02 1062 CYP 31.12.2001 60.00APRIL 02 1162 CYP 31.07.2002 62.00MAY 02 1339 CYP 30.09.2002 63.00AUG 02 1366 CYP 31.12.2002 66.00
31.03.2003 68.00ZEPHYROS MAR 03 1550CYPAPARTMENTS
VILLAS* MAR 01 912 CYPDEC 01 1087 CYPMAY 02 1201 CYP AUG 02 1201 CYP MAR 03 1325 CYP
*price of villa does not include cost of land
Average Sales Prices
Client Questionnaires – Survey feedback (March 2003)
MOVING IN DATEYEAR NUMBER %2002 1 1.37%2003 19 26.03%2004 18 24.66%2005 11 15.07%2006 0 0.00%
unknown 24 32.88%
Total 73 100.00%
Construction Program as of June 20032000
Infrastucture 100%
Golf Course 100%
3 Νο. Show Villas 100%
Spa & Tennis 50%
Village Center 70%
Golf Clubhouse 100%
Sewage Treatment Plant 100%
Water Tanks 100%
Maintenance Building 100%
EAC Sub-Stations 100%
Inter-Continental Hotel 40%
Parcel K (22 Units) 100%
132 KV Sub-Station 0%
Parcel 'J' 50%
SEP DEC
2004
MARJUN SEP DEC JUN
2002 2003
MARDESCRIPTION STATUS
2001
MAR JUN
Budget Reconciliation as of March 2003PRE-TENDER ACTUAL & EXPECTED VARIANCE REMARKS
BUDGET 2003 (1) (2) (2) - (1)
1 Infrastructure 1.1 Roadworks 6,850,000 6,750,000 -100,000 Includes settlement of claims1.2 Services, Networks, Landscaping 3,965,000 3,525,000 -440,0001.3 Central Sewage System 1,800,000 1,600,000 -200,000
2 Retail and Restaurant Quarter 2,147,571 1,848,000 -299,571 Following V.E.3 Golf Club House 1,270,798 1,250,000 -20,798 Final Account pending.4 Spa and Tennis Academy 2,239,000 2,100,000 -139,000 Cost may rise due to late start but save in finance5 Golf Cource 4,142,000 4,700,000 558,000 Water Problem. Fianl A/C pending.6 Five Star Hotel 28,234,000 27,350,000 -884,000 Includes 27 No. Private Swimming Pools7 Show Villas 3No 554,540 530,000 -24,5408 Parcel 'K' - Orpheus 1,632,000 1,500,000 -132,0009 Parcel 'J' - Helios 4,748,000 4,550,000 -198,000 Following V.E.10 14 No. Villas 2,688,000 2,500,000 -188,00011 8 No. Villas 1,531,000 1,400,000 -131,00012 12 No. Villas 2,600,000 2,350,000 -250,000
SUB-TOTAL 64,401,909 61,953,000 -2,448,90913 Desalination Plant 2,900,000 2,800,000 -100,000 Process Equipment Under Evaluation
TOTAL 67,301,909 64,753,000 -2,548,909
NOTES1. Prices do not include :Land costs, Legal/Consultunts Fees, VAT, Finance costs.
2. Amount for Desalination Plant is for 2,500 m3/day raw water or 2,100 m3/day desalinated.
Aphrodite Hills Property Management Ltd
• Purpose is to offer After Sales and Property Management Ltd to Real Estate Owners
• Operational since 1st May 2003.
• Services Include:• Property Management• Bill of Payments• Housekeeping/Maid Service• Garden Maintenance• Pool Maintenance• Security Services• Hire Items
Client Questionnaires – Survey feedback (March 2003)
MANAGEMENT SERVICESDESCRIPTION NUMBER %INSP/MAINT 56 77.78%
BILLS 36 50.00%GARDENING 53 73.61%POOL MAINT 40 55.56%
VEHICLE/BUGGY 22 30.56%MAID 65 90.28%
DRY CL/LAUNDRY 40 55.56%INTER/FURNICHINGS 28 38.89%
CABLE TV 55 76.39%BABYSITTING 18 25.00%
DELIVERY OF PAPERS 1 1.39%SHUTTLE TO AIRPORTS 2 2.78%
SECURITY 3 4.17%CAR HIRE 3 4.17%
FLIGHTS/PACKAGES 1 1.39%TAXI SERVICE 1 1.39%INSURANCE 1 1.39%
Total 72 100.00%
Clients Interested in Rentals
INTERESTED IN RENTALSANSWER NUMBER %
YES 45 62.50%NO 17 23.61%
MAYBE 10 13.89%
Total 72 100.00%
Village Centre - AreaAREA
M2
BASEMENT
M2
FIRST
FLOOR M2
SHOP 1 37,80SHOP 2 94,75 83,30SHOP 3 145,85 161,55SHOP 4 18,00SHOP 5 78,35 78,35SHOP 6 87,10 45,65 MezzanineSHOP 7 68,50 33,70 MezzanineSHOP 8 39,65SHOP 9 54,40SHOP 10 46,40CHAPEL 70,00KIOSK 19,10RESTAURANT 1 136,75RESTAURANT 1 VERANDAH 114,00RESTAURANT 1 WCs 30,50KITCHEN 1 102,70
RESTAURANT 1 TOTAL 383,95RESTAURANT 2 135,90RESTAURANT 2 VERANDAH 120,30RESTAURANT 2 WCs 30,50KITCHEN 2 157,50
RESTAURANT 2 TOTAL 444,20FAST FOOD OUTLET 1 35,60FAST FOOD OUTLET 2 43,20BAR 32,20BAR VERANDAH 42,00Bar WCs/STORES 22,90
Bar subtotal 97,10OFFICE 362,00GALLERY 59,65SECURITY/FIRST AID 12,50TOTAL 1.332,25 323,20 945,20
TOTAL AREA 2.600,65
• British athletes to use AH as their advanced camp and site for Athens 2004 Olympics.
• Athletes will be staying on-site during following periods:
a. August 9-13, 2003: 13 athletesb. May 3-31, 2004: 30 athletesc. July 25-August 25, 2004: up to
112 athletes• Special Arrangements with
Clubhouse & BOA’s nutritional therapist for special dietary needs.
• Training to be done at Aphrodite Hills & surrounding areas.
BRITISH OLYMPIC ASSOCIATION (BOA)
Projects Under Consideration
• Project 1
• Project 2
• Project 3