Industrial Development Investment Company Of Iran

Introduction
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Co. Outside of S.E.
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Construction Activities:

One of the new activities of the Industrial Development Investment Company of Iran (IIDIC) is its entry into investment in the construction field during the financial years 1382-84 . In the submission of the board's report to the ordinary annual general meeting on day 13,1382 .

The said program was announced as one of the set targets and strategies, which subsequently gained approval. Along this line, the following measures have already been taken:

1- Aplot of land comprising an area of about 500 m2., located near the Argentine Square, has been purchased. On the said plot of land, one office building consisting of a Stock Exchange Hall for Transanetions (Subsidiary Hall), and an independent five-storey building, will be constructed. To execute the Consulting Engineer's project, the planner & the Construction supervisors, have been appointed, and issuance of the relevant permit, is underway. Operational duration of the project is predicted to be 18 months starting from the date the municipality permit is obtained. For construction of a 2000 m2. building, amount of the land investment to be made is estimated to be equivalent to 7 Billion Rials and that for the construction is estimated to be equivalent to 6 Billion Rials. Capital return is estimated to be about 15 Billion Rials after an elaps of 18 months.

2- A 2000 m2. plot of land, located on the Northern part of the Kish Island, has been purchased for the construction of luxury residential flats, coupled with servicing facilities. Considering the options made by the Consulting & Planning Engineers, and given all the various aspects and standards of the Kish free zone, the most economical choice was to construct a 14-storcy tower according to the international standards and the following specifications:

Total construction Area: 68 Thousand m2.
Residential Construction Area: 44.8 Thousand m2.
Construction Area for the Serice & Packaging section:12 Thousand m2.
Residential shared Areas & Stores: 11.2 Thousand m2.

Considering the special situation of the Kish Island and the geography of the region, the cycle of investment and execution of the relevant project will continue for 36 months. Given the dorm any of the capital and the pre-sale of plats subject to ordinary daily prices, the net return investment is estimated to reach 82.8 Billion Rials, and the project's internal rate of return to 29.2%.