Issuu

DOSSIER CONTENIDO

01. PANAMÁ 1.1. PANAMA. 1.2. PANAMA’S POPULATION DISTRIBUTION. 1.3. PANAMA AND ITS ECONOMY. 02. VIVIENDA EN PANAMÁ 2.1. PANAMA’S HOUSING DEFICIT. 2.1. PUBLIC HOUSING FUND. 03. GRUPO SINGULAR 3.1. GRUPO SINGULAR. 3.2. SALIENT WORKS. 3.3. GRUPO SINGULAR’S SPECIALTIES. 3.4. GRUPO SINGULAR’S MAIN CLIENTS. 3.5. GRUPO SINGULAR’S EXPERIENCE. 3.6. PROJECTS. 04. GRUPO SINGULAR’S PROJECTS

4.1. PACORA PARK RESIDENCES, PACORA. 4.2. PACORA HOME RESIDENCES, PACORA. 4.3. CIBELES RESIDENCES, ARRAIJAN.

05. PACORA / EAST PANAMA 06. ARRAIJAN / WEST PANAMA 07. ARRAIJAN / WEST PANAMA

7.1. 7.2. 7.3. 7.4. 7.5. 7.6. 7.7. 7.8.

PROJECT STATEMENT OF INCOME / 6.2Ha GENERAL DESCRIPTION OF THE PROJECT LAND PURCHASE PROJECT COSTS FINANCING TRUST PROJECT STATEMENT OF INCOME / 11.3Ha BUSINESS PROPOSAL

PANAMÁ

THE COUNTRY Panama, placed in Central America, has a surface of 75.420 Km2, its considered a small country. Panama, with a population of 3.867.535 persons, is one of the countries least filled with the world and presents a moderate density of population, 51 inhabitants for Km2. Panama is the economy number 76 for volume of GDP. His national debt in 2015 was 18.216 million Euros, 38,77 % of the GDP and his debt per capita 4.710 € Euros for inhabitant. The last rate of annual variation of the CONSUMER PRICES INDEX published in Panama is of March, 2016 and it was 0,6 %. There are some variables that can help to know something more if it is going to travel to Panama or simply it wants to know on more the standard of living of his inhabitants. The GDP per capita is a very good indicator of the quality of life and in case of Panama, in 2015, it was of 12.148 € Euros, with that one places in the position 53 of the ranking and his inhabitants have, according to this parameter, a low standard of living in relation to the rest of 196 countries. As for the Index of Human Development or IDH of Panama, which elaborates the United Nations to measure the progress of a country, it was 0,780 points in 2014, with what one placed in the position 60 of the table of 187 countries that we publish. After deep studies and analysis, Panama took the decision to extend this route adding the third rail of traffic to duplicate his capacity. The extension of the Canal of Panama consists of the construction of two complexes of sluices of three levels, one of the side Pacific Ocean and other one of the side The Atlantic Ocean. Along the Canal of Panama 14.000 noses pass in average a year. The new sluices will allow the step of between 12 14 daily noses what it will represent more than 18.000 moves a year. The extension of the Canal of Panama consists of the construction of two complexes of sluices of three levels each one with three tubs of water reutilization for level, one of the side Pacific Ocean and other one of the side The Atlantic Ocean. This program carries also the widening and deepening of the existing riverbeds of navigation of the Lake Gatún and of the income of the sea of the Pacífico and of the Atlantic Ocean, as well as the deepening of

As of March 31, 2016, the completion status of the Panama Canal expansion was at 97%, broken down as follows:

99.3% 96% 96% 100% 100% 95%

PACIFIC WATERWAY WORKS GATUN LAKE AND CULEBRA CUT DREDGING LOCK DSEIGN AND CONSTRUCTION DREDGING OF THE PACIFIC ENTRANCE DREDGING OF THE ATLANTIC ENTRANCE GATUN LAKE MAXIMUM OPERATION LEVEL INCREASE

the Cut Snake. The new sluices of the Canal of Panama will allow the step of between 10 and 12 noses Neopanamax, for brought near of 40 moves diaries for the Canal of Panama, depending on the mixture of noses. The extension of The Canal of Panama will be inaugurated officially on Sunday, the 26th of June of the present year. The project of extension reaches already 97 % of advance and the consortium in charge of the construction of the sluices is finishing the tests of the rolling hatches. Panama has a position favored in several classifications of growth and development of Latin America, being able to place as the most competitive second country of the region according to the Economic World Forum and the Latin-American country with major economic growth. It is cataloged in absolute terms, that is to say, without bearing the distribution of wealth in mind, as of economic medium - high income. After a notable reduction of the poverty and unemployment in the last years and the high index of human development that has been achieved in the last two decades, the poverty was located in 25,8 % of the population, placing below the Latin-American average of 31,4 %.

PANAMÁ

PANAMA’S POPULATION DISTRIBUTION

Panama for 2014 possesses a population of 3.867.535 persons. Panama this one in the position 133 of 196 conditions that compose the table of world population of datosmacro.com.

PANAMA’S POPULATION DISTRIBUTION

For 2014, the masculine population has been a majority, with 1.939.570 men, which supposes 50,15 % of the total, opposite to 1.927.965 women who are 49,85 %. Panama has a density of moderate population of 51 inhabitants for Km2. DATES

POPULATION

MEN

WOMEN

DENSITY

DATES

POPULATION

MEN

WOMEN

DENSITY

2014

3.867.535

1.939.570

1.927.965

1987

2.324.000

1.173.597

1.144.847

2013

3.851.000

1.909.291

1.896.392

1986

2.274.000

1.148.840

1.119.779

2012

3.788.000

1.878.977

1.864.784

1985

2.225.000

1.124.171

1.095.105

2011

3.724.000

1.848.713

1.833.266

1984

2.176.000

1.099.544

1.070.846

2010

3.662.000

1.818.569

1.801.937

1983

2.127.000

1.074.968

1.046.953

2009

3.600.000

1.788.569

1.770.832

1982

2.078.000

1.050.512

1.023.314

2008

3.538.000

1.758.721

1.739.958

1981

2.030.000

1.026.282

999.775

2007

3.476.000

1.729.050

1.709.348

1980

1.982.000

1.002.346

976.229

2006

3.413.000

1.699.574

1.679.026

1979

1.931.393

978.748

952.645

2005

3.351.000

1.670.299

1.649.002

1978

1.884.512

955.453

929.059

2004

3.289.000

1.641.281

1.619.330

1977

1.837.887

932.369

905.518

2003

3.227.000

1.612.512

1.589.999

1976

1.791.459

909.361

882.098

2002

3.164.000

1.583.856

1.560.872

1975

1.745.207

886.343

858.864

2001

3.102.000

1.555.131

1.531.756

1974

1.699.114

863.287

835.827

2000

3.041.000

1.526.221

1.502.530

1973

1.653.257

840.258

812.999

1999

2.980.000

1.497.062

1.473.131

1972

1.607.835

817.378

790.457

1998

2.921.0009

1.467.745

1.443.638

1971

1.563.113

794.821

768.292

1997

2.862.000

1.438.501

1.414.238

1970

1.519.293

772.717

746.576

1996

2.804.000

1.409.650

1.385.195

1969

1.476.478

751.120

725.358

1995

2.747.000

1.381.424

1.356.701

1968

1.434.660

730.018

704.642

1994

2.691.000

1.353.897

1.328.823

1967

1.393.800

709.402

684.398

1993

2.636.000

1.327.002

1.301.509

1966

1.353.805

689.238

664.567

1992

2.581.000

1.300.651

1.274.679

1965

1.314.627

669.510

645.117

1991

2.527.000

1.274.696

1.248.205

1964

1.276.274

650.231

626.043

1990

2.474.000

1.249.019

1.221.991

1963

1.238.824

631.437

607.387

1989

2.424.000

1.223.613

1.196.005

1962

1.202.372

613.154

589.218

1988

2.374.000

1.198.495

1.170.277

1961

1.167.041

595.412

571.629

Source: http://www.datosmacro.com/demografia/poblacion/panama

PANAMA

AND ITS ECONOMY

From 2004, the Panamanian economy leads the growth of Latin America, including the year 2008 when there was a world crisis. Nowadays Panama continues his growth to a stabler and sustainable step. The levels of unemployment are kept low and the inflation has been controlled.

PANAMA

AND ITS ECONOMY

The growth is kept robust, closing 2015 in 5.8 %, in spite of the crisis that the region lives, and with the lowest levels of inflation of the decade. The projections indicate that the rate of growth of the sector construction will increase in the next years. Additional, a low inflation and a decrease is estimated in the rate of total dispossession. Based on the report of world projections of the International Monetary Fund, the growth of Panama is going to overcome to the principal economies of the world in 2016 and 2017.

GROWTH OF PANAMA VS GROWTH OF THE GDP OF LATIN AMERICA, LAST 25 YEARS (% GIVES GROWTH / ASA)

Panamá

Latam

15 10

5.8%

5 0 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15

-5

INFLATION (%) 2010- 2015

World Mundo

PROJECTION 2016 - 2017

Emergent Economies Economías Emergentes

Panama Panamá

1.2

7.3 5.9

5.9 3.5

4.9

5.7 3.9

3.6

5.8

5.5

3.5

3.6

5.6

2.6

2011

2012

2013

2014

Source: ELAC, INEC, CELSA, Bloomberg, IMF and World Economic Outlook Report 2016.

0.8 0.6

3.3

0.2 2010

1.1

2015

0.4 0.2

0.4

0 2015

2016

2017

2018

2.9%

PANAMA

AND ITS ECONOMY

PANAMA GDP GROWTH VS COMPANIONS AND REGIONS (CHANGE / ASA) 6.2% 6.8%

THE COUNTRIES OF REFERENCE 4.7% 4.3%

REGIONS

3.4% 3.6%

2.6% 2.6% 1.6% 1.7% 1.7% -0.3% EEUU0.0% America Latina Brazil

Alemania

2.6% 2.9%

3.4% 3.6%

2.6% 2.6%

4.3%

4.7%

1.6% Mundo México

Emergente EEUU

Panamá -0.3% America Latina

Mundo

Emergente

Panamá

PROJECTIONS MEF AND WORLD BANK

-3.5% 2016

6.2% 6.8%

2017 2016

2016

6.2%

2017

6.4%

2017

INVESTMENTS OF GOVERNMENT 2015-2019 STRATEGIC INVESTMENTS OF THE PLAN OF GOVERNMENT (IN MILLION OF US$) ECONOMY

SOCIAL

GOVERNMENT AND JUSTICE

56% 6% $ 1,209

3% $ 8,790

$ 973

Source: Strategic plan of Government

INFRASTRUCTURE

ENVIRONMENT

34% 1% $ 6,371

$ 216

The Plan of Government proposes to optimize his potential logistic plenary session and of transport across the extension and maintenance of his public infrastructure.

HOUSING

IN PANAMA

PANAMA’S HOUSING DEFICIT AS OF 2014

With the admirable growth of Panama’s real estate sector, one would think that there is no housing deficit, but this is not the case. The growth of the real estate sector focused on the luxury housing bracket, which has resulted in the deceleration of its commercialization. However, the Panamanian Government manages a public housing program, which establishes the development of basic residential areas, and provides incentives to the private sector in the development and construction thereof. Public housing has only recently shown progress. The Ministry of Housing has performed studies that indicate that the housing deficit is larger in the Ngobe Bugle reserve, where 43.16 homes are needed; followed by the Province of Panama, which needs 30,729; then by Chiriqui, which needs 14,810. Veraguas alone requires 18,818 units and the Province of Bocas del Toro needs 16,200. In Panama, there is an approximate total deficit of 171,199 housing units. In Panama, the housing deficit is concentrated in East Panama (Pacora), San Miguelito, and the provinces of Colon, Cocle, Veraguas, Bocas del Toro and West Panama.

TOTAL HOUSING DEFICIT

171,199 PROVINCE

UNITS

BOCAS DEL TORO

16,200

COCLÉ

12,825

COLÓN

9,632

CHIRIQUÍ

14,810

DARIÉN

6,582

HERRERA

3,602

LOS SANTOS

926

PANAMÁ

30,729

VERAGUAS

18,818

COMARCA EMBERÁ

2,114

COMARCA GUNA YALA

11,735

COMARCA NGOBE BUGLÉ

43,166

HOUSING

IN PANAMA

PUBLIC HOUSING FUND

The Panamanian Government’s strong effort, through the Ministry of Housing (MIVI, per its Spanish acronym), is developing an institutional movement to promote sustainable development programs, with the aim of modernizing management; generating conditions that incentive private investment in the housing sector; restoring urban planning in cities; developing modern legislation for the housing deficit in the various sectors; and implementing urban legislation that benefits the quality of life of low-income citizens. The Ministry of Housing and the Private Investment Promotion Bureau of Panama have established, through Executive Decree No. 57 of March 14, 2011, the creation of the Solidary Fund Program. This is an untransferable contribution that the National Government is making through the Ministry of Housing, for low-income, informal economy individuals and families, in the amount of ten thousand Balboas (B/.10,000.00) per family, for the purchase of a new home, whose sale price does not exceed the amount of fifty thousand Balboas (B/.50,000.00), not including legal and closing fees. For homes whose sale price does not exceed the amount of fifty thousand Balboas (B/.50,000.00), they must have a closed area of 50 square meters. Furthermore, as a minimum, there must be closed spaces such as a living/dining room, two (2) bedrooms, kitchen with a sink, bathrooms with a shower, toilet and sink, a clothesline, a closet, and a waste bin. There must also be open spaces, such as a porch and a laundry area, and it must comply with the minimum urban planning standards, as per the specifications included in the Panama Structural Regulations of 2004 (REP-04), or home solutions approved by the competent authorities. QUALIFYING FAMILY GROUPS: • Spouse or partner. • Underaged children of the applicant or his/her spouse/partner. • Disabled children of the applicant or his/her spouse/partner. • Persons for which the applicant or his/her spouse/partner are legal guardians or custodians, and who live with them. REQUIREMENTS: • Sworn statement regarding family income. • Evidence of the approval of a mortgage application for the purchase of the home for which the contribution is requested. • Combined family income does not exceeds B/.1,200.00. • Does not own a home. • Is Panamanian, of legal age, or a foreign with formal established residence.

03 SINGULAR GRUPO

3.1. GRUPO SINGULAR 3.2. SALIENT WORKS. 3.3. GRUPO SINGULAR’S SPECIALTIES. 3.4. GRUPO SINGULAR’S MAIN CLIENTS. 3.5. GRUPO SINGULAR’S EXPERIENCE AND PROJECS.

GRUPO SINGULAR

GRUPO SINGULAR is a conglomerate of solid and sound companies engaged in construction, rehabilitation, promotion, homes, buildings, roads and everything related to buildings in general. It is born of the continuing promotion efforts of its members, and backed by their professionalism, since its human resources have extensive experience in the field of construction. After conducting market research, and observing characteristics throughout several Latin American countries, and with ratings as previously mentioned, we have found that Panama is sufficiently dynamic and booming, and that is why members of the Group made the decision to create what we now call GRUPO SINGULAR, and we remain operationally successful today in the prosperous daily life of Panama and its inhabitants. In this complicated international stage, Panama’s development capacity is surprising, backed by an efficient management of the country and an entrepreneurial society. All this creates a special appeal to the members of GROUP SINGULAR, who feel the need to participate in this development, providing experience and investing in the Republic of Panama. GRUPO SINGULAR’s values are based on the experience of its members, who in recent years have participated in numerous building projects, heading up the management and direction thereof.

GRUPO SINGULAR

COMPLETED WORK

GRUPO SINGULAR’S SALIENT WORK

2009

• Design and construction of vault for the National Passport Bureau under the Ministry of Government and Justice of Panama. • Renovation of buildings 571, 573, and 574 in Curundu, offices of the Institute of Agricultural Insurance.

2010

• Construction of synthetic soccer field with bleachers, restrooms, locker rooms and others, for the Community of Parque Lefevre. • Design and construction of the new I.S.A. Agency in Buena Vista, Colon.

2011

• Design and construction of the I.S.A. Agency - Santiago de Veraguas. • Redesign and construction of the new I.S.A. Agency, Chitre, Herera. • Construction of sidewalks with metallic cover for Maria Ossa de Amador and Panama Viejo School, in the Township of Parque Lefevre. • Design of Almeria Apartment Buildings, located in Belen, Tocumen. • Provided supplies and labor for the construction of roofed terrace with 16 parking spaces and fencing for the construction area of Chanis Park, located in Parque Lefevre.

2012

• Construction of 10 dry latrines in Rio Congo, Darien. • Improvements and remodeling of Villa del Rey Park and Gringo de la Guardis Park in the Township of Parque Lefevre • Design and development of blueprints and construction for the New ISA Agency in Mariato. • Design and development of blueprints and construction for the New ISA Agency in Torti.

2013

• Design and construction of Sk8 Park, Township of Parque Lefevre. • Construction of multi-sports field, Township of Parque Lefevre. • Construction of soccer field 8, Township of Parque Lefevre. • Construction of soccer field 11, Township of Parque Lefevre. • Renovation of Panama Viejo Gym, Township of Parque Lefevre.

GRUPO SINGULAR

SPECIALTIES AND CLIENTS

GRUPO SINGULAR’S SPECIALTIES

• INVESTMENT PROJECT ASSESSMENT. • DESIGN AND DEVELOPMENT OF CONSTRUCTION, HOME AND ARCHITECTURAL INFRASTRUCTURE BLUEPRINTS. • CONSTRUCTION PROJECT MANAGEMENT. • INFRASTRUCTURE. • CONSULTING. • ENVIRONMENTAL MANAGEMENT. • REAL ESTATE.

GRUPO SINGULAR’S MAIN CLIENTS

• MINISTRY OF GOVERNMENT AND JUSTICE. • AGRICULTURAL SECURITY INSTUTE. • SOCIAL SECRITY BUREAU. • TOWNSHIP OF PARQUE LEFEVRE. • PRIVATE SECTOR COMPANIES.

GRUPO SINGULAR

OTHER PROJECTS

GRUPO SINGULARâ€™S EXPERIENCE

Grupo Singular, with over one thousand homes underway, is a real estate group with experience in the home construction, management and sales sector in Panama. With a team of highly qualified professionals and a management team with vast experience in the Panamanian construction sector, it is consolidates itself as a competitor capable of assuming the unsatisfied demand indicated herein, through its management system. We present below other general projects developed by Grupo Singular.

GRUPO SINGULAR

PROJECTS

CURRENT PROJECTS PROJECT

DESCRIPTION

STATUS

LOCATION

SALE

PACORA PARK RESIDENCES

504 HOMES PUBLIC HOUSING

COMPLETING PHASE CONSTRUCTION

PACORA

B/. 20,134,800.00

227 HOMES

EARTHWORK

PACORA

B/. 11,338,650.00

BLUEPRINT DESIGN

PACORA

B/. 12,763,500.00

PHASE I CONSTRUCTION

ARRAIJÁN

B/. 7,245,167.00

BLUEPRINT DESIGN

PACORA

B/. 6,000,000.00

BLUEPRINT DESIGN

PENONOMÉ

B/. 17,500,000.00

PACORA HOME RESIDENCES

PUBLIC HOUSING

VILLA BLANCA RESIDENCES

PUBLIC HOUSING

CIBELES RESIDENCES

201 HOMES

42 VIVIENDAS EXCLUSIVE

120 HOMES

VILLA VERDE RESIDENCES

PUBLIC HOUSING

QUINTAS DE PENONOMÉ

PUBLIC HOUSING

350 HOMES

FUTURE PROJECTS PROJECT

DESCRIPTION

LOCATION

APPRAISAL

44,720.79 m²

INDUSTRIAL/COMMERCIAL HIGH DENSITY. 1-C2

PACORA

B/. 1,788,831.60

6,167.47 m²

COMMERCIAL LOW DENSITY. C1

PACORA

B/. 154,186.75

BELÉN

P.H.

TOCUMEN

B/. 160,000.00

04 PROJECTS

GRUPO SINGULARâ€™S

5.1. PACORA PARK RESIDENCES. 5.2. CIBELES RESIDENCES. 5.3. PACORA HOME RESIDENCES.

GRUPO SINGULAR

PACORA PARK RESIDENCES

504 PUBLIC HOUSING UNITS The Pacora Park Residences are presented by Grupo Singular as a housing solution covered by Public Housing Fund, to meet the vast housing needs that arise in the area of greatest socio-demographic growth in Panama City, since it is estimated that the area is home to about 280,000 inhabitants, which will double in the coming years, following the advanced growth of the area and the many commercial, employment and economic attributes that are forecasted for the east of the city. Pacora Park Residences satisfy many housing needs of people with limited income in the area, placing them in a privileged position and dignifying the quality of life of its inhabitants. Developed on an area of 10.6 hectares, with 67-square meter homes. Currently, this development has sold a total of 380 homes, representing more than 75% of the promotion, leading to $20,134,800 in invoicing.

B/. 39,950.00 The uniquely developed project named Pacora Park Residences does not exceed B/.40,000.00, and as per regulations established in public housing legislation, the units have an enclosed area of 45 m2 of construction, with at least 7 meters in the open, (2) bedrooms, (1) bathroom, dining room, kitchen, laundry area, porcelain or tile flooring, kitchen cabinets, (1) parking space with paved taxiways, and meet the minimum urban planning standards set forth in the Panama Structural Regulations of 2004 (REP 04), and housing solutions approved by competent authorities. The acquisition of Pacora Park Residences homes are carried after the conditions required by the Government are met by applicants for purchase thereof.â€ƒ

GRUPO SINGULAR

PACORA PARK RESIDENCES

GRUPO SINGULAR

PACORA HOME RESIDENCES

227 PUBLIC HOUSING UNITS Pacora Home will be located on the existing road between Rio Chico, just five minutes from the Inter-American Highway, opposite the entrance of Paso Blanco, and a few meters from Pacora Park Residences. It will be located in an area known as San Antonio, Township of Pacora, District of Panama, Province of Panama. The Pacora area and specifically the San Antonio area, have great residential potential; as it is close to the Inter-American Highway, connecting to Panama City and the community of Chepo. Such development has sparked a massive demand for public housing, which we have proven after the marketing and selling process of the Pacora Park residences. The Pacora Home project covers an area of 6.1 hectares, and its main access is an existing road that goes toward.

B/. 49,950.00

GRUPO SINGULAR

PACORA HOME RESIDENCES

An enclosed area of 51.00 m2, with a total construction area of 67.55 m2. Residential lots are 160 m2. The enclosure is concrete with metallic waterproof roofing and a metallic structure. Floors are made of ceramic in the enclosed area and antiskid ceramic on the porch. Bathrooms are tiled up to 1.80m all around, and in the kitchen, specifically with a backsplash at 0.60m above the sink. Interiors will have plaster ceilings with metallic structures, and the main door with be made of metal, “HOPSA”-style. Interior doors (4 total) will be made of plywood, the laundry door will be made of metal, as well as the doors leading to the backyard. Each environment has a window: the dining room has 2 French window, the second bedroom will have 1 French window, and the main bedroom will have 1 French window.

GRUPO SINGULAR

CIBELES RESIDENCES

ARRAIJÁN

42 ANNEXED DUPLEXES Residential Cibeles, is located on the Route that its communicates to Chapala, specifically for Hopsa’s entry, to only 3 minutes from the Inter-American Route. The same one is in the Corregimiento Juan Demóstenes Arosemena, Arraiján’s District, Province of Panama, which is near the principal public, hospitable institutions and authorities of the corregimiento and of the district. Arraiján’s area and specifically Juan Demóstenes Arosemena’s corregimiento they have a great residential potential; since one thinks near the Inter-American Route that reports towards City of Panama and towards Spout. Such a development has untied a massive demand of one-family residences, bifamiliares and some developments of apartments. The project area has a surface of 12.700 square meters. The Principal access is across an existing route that goes towards Plate Her that it uses as connection to the Inter-American Route. Of equal form his nearness to other residential projects, as well as

B/. 164,500.00 the nearness to the Principal Route, complements the excellent location of the Residential Project Cibeles. To 5 minutes one finds the new Mall Westland, to 25 minutes of City of Panama and to 15 minutes of Spout. Development of 42 attached duplexes of two in two, of 175 mts2 on plots from 150 mts2. The development is carried out on a plot of 12.700 square meters, beginning the stage of sales next January. The promotion is in Arraiján, locality of fort I develop habitacional and closely together of the City of Panama.

GRUPO SINGULAR

CIBELES RESIDENCES

PANAMA

PACORA

PACORA PANAMA

Pacora is a Township in the District of Panama, located East of the metropolitan area and Panama City. It borders the Gulf of Panama, the District of Chepo and the neighbouring Townships of Juan Diaz, Tocumen, 24 de Diciembre, San Martin and Chilibre. The zone has been populated precariously more than once by low-income inhabitants, motivated by the lack of accessible housing in the metropolitan area of the city, which has led to the establishment of several communities. This is why its population grew for 6,000 in 1980, to 26,000 in 1990, and over 60,000 in 2000. Despite the fact that social problems in the area still persist, it has actually been developing in an advanced manner, and is undergoing an urban and social expansion that has been projected to make it a commuter town for the capital. Growing manufacturing companies in the area, such as the La Gaza Industrial Complex and the Las Americas Industrial Park, which will include a free zone according to forecasts, will create employment in the zone and will attract more residents to its vicinity. Another important source of employment in the zone will be the Panama Logistics Park, which currently represents a real estate, industrial and logistics project which is being developed to world-class standards, and which will have over 30 lots for the development of light industry and the commercial sector.

COMMERCIAL AREA POLICE COMMERCIAL AREA

HWAY INTER-AMERICAN HIG

PACORA PARK

PASO BLANCO CROSS

COMMERCIAL AREA COMMERCIAL AREA

VILLA VERDE

PACORA HOME

COMMERCIAL AREA

VILLA BLANCA

LA LAGUNA RIVER

PANAMÁ

PACORA

After the steady growth of Pacora and its vicinity, there are many public and private investments that are under development, such as the construction of a mega mall, and the modernization of public transportation, which includes the construction of Panama’s 2nd subway line, in order to efficiently communicate this sector’s population to the capital city’s metropolitan area. Pacora has several hospitals including a MINSA CAPSI, a Ministry of Health Primary Healthcare Center, a COPEG (Panama-United States Comission for the Eradication and Prevention of Screwworm, per its Spanish acronym) Examination Center. Pacora has more than 10 residential areas such as Las Colinas de Pacora, San Juan, Ciudad Santa Fe, Santa Isabel. Sectors such as Los Rosales, Concepción, Las Garzas de Pacora and Cabra. Some schools such as C.E.B.G., Republic of Honduras, China-Taiwan, Saint John’s Academy, Divino Niño School, among others. In December 2015 the Colinas de Pacora Integral Education Center project was initiated. This center is being built on 5 hectares of land and will have a modern infrastructure. The project will benefit 2,000 students in the Pacora area, which generally attend other educational centers in the capital. The center will have 60 theory classrooms, divided into 12 preschool, 24 primary, 12 middle and 12 secondary.

AV. JOSÉ

AGUSTÍ

N ARAN

AV. JOSÉ

CARRETERA INTERAMER ICANA

FELIPILLO

PUNTA DEL ESTE

AGUSTÍ

N ARAN

RA ETE

ANA

ERIC

RAM

INTE

VÍA CHEPO

R CAR

PARQUE INDUSTRIAL LAS AMÉRICAS

NGO

TOCUMEN

AV. JO

SÉ

AGU

STÍN

ARA

PACORA

RÍO PACORA

DÍA

TOCUMEN

AEROPUERTO INTERNACIONAL TOCUMEN CORREDOR

SUR

DOM AV.

O ING

POLICE STATION HEALTHCARE CENTER BUS STOP SUBWAY STATION EDUCATIONAL CENTER INDUSTRY SUPERMARKET

OR SUR

CORRED

FEATURES OF MEGA MALL One of the main sources of employment and recreation for Pacora and surrounding residents. Mega Mall is located in the Township of 24 de Diciembre, a few kilometers from Pacora, and will become the main shopping attraction for residents of the zone and its surroundings. This mall will have over 280 shops, divided into banking, financial, recreational, and food court areas, as well as a multi-screen movie theatre and over 1500 parking spaces.

PANAMA

ARRAIJAN

ARRAIJAN PANAMA

The District of Arraijan is one of the five districts comprising the Province of West Panama in the Republic of Panama. It is located on the easternmost part of the Province of West Panama. It is bordered to the North and East by the Province of Panama (District of Panama, separated by the Panama Canal); to the South by the Pacific Ocean; and to the West by the District of La Chorrera. It is the third largest and the most populated district in the province; it has a population of 220,779 (2010), which makes it the third most populated in the country, exceeded only by the Districts of Panama and San Miguelito. It is a part of the metropolitan area of Panama City, given that it serves as a commuter town for the capital.

PANAMÁ

ARRAIJÁN

PANAMÁ

ARRAIJÁN

Fishing activities are carried out in Veracruz and the Port of Vacamonte. The Maritime Petroleum Zone and the Howard Free Zone are important industrial and commercial hubs. It also has new and modern residential areas, shopping malls, banks, the most modern port center in Central America, a water treatment plant which supplies potable water to West Panama’s population, and the second bridge over the Panama Canal. Arraijan has several high schools, the Vista Alegre Township houses the Christian University of Panama, and the Juan Demostenes Arosemena Township houses the Chapala Vocational School. The district also has the Arraijan-La Chorrera Highway, the Centennial Bridge Highway and the Pan-American Highway. The District of Arraijan is showing the most important demographic phenomena in the entire geographic area of the country, to the point where its population which was of only 220,000five years ago, has now increased and exceeds the entire provinces of Cocle, Los Santos, Herrera and Darien. This population growth in Arraijan is due, among several reasons, to its vicinity to the capital city, since it is only 8 miles away, a mere 15-minute drive. In Arraijan, 27,000 new homes have been built over the last four years, with the same amount of families occupying them.

ILLUSTRATED DATA PANAMA’S 3RD SUBWAY LINE 1

7 9

ESTIMATED LENGTH 27

200,000

ESTIMATED PASSENGERS DURING PEAK HOURS

1 2

ALBROOK BALBOA

3 4

PANAMÁ PACÍFICO LOMA COVÁ

5 6

ARRAIJÁN I ARRAIJÁN II

7 8

BURUNGAL CÁCERES

KILOMETERS

30,000

PASSENGERS PER HOUR/IN EACH DIRECTION PER CAPACITY DESIGN

9 NUEVO CHORRILLO 11 VISTA ALEGRE II 10 VISTA ALEGRE I 12 NUEVO ARRAIJÁN

13 SAN BERNARDINO 14 CIUDAD DEL FUTURO

GRUPO SINGULAR

RESIDENCIAL VILLA CAROLINA

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

07 RESIDENCES

VILLA CAROLINA

7.1. 7.2. 7.3. 7.4. 7.5. 7.6. 7.7. 7.8.

PROJECT STATEMENT OF INCOME / 6.2Ha. GENERAL DESCRIPTION OF THE PROJECT. LAND PURCHASE. PROJECT COSTS. FINANCING. TRUST. PROJECT STATEMENT OF INCOME / 11.3Ha. BUSINESS PROPOSAL.

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

STATEMENT OF INCOME

UPON COMPLETION OF THE PROJECT / 6.2 Ha AMOUNTS IN BALBOAS

INCOME: SALES TOTAL OF THE PROJECT REMUNERATED ACCOUNT TRUST

11,627,200.00

100

570,333.00

4.9

6,600,849.00

56.9

DEVELOPMENT OF BLUEPRINTS AND FOLLOW-UPS STUDIES, LICENSES, TAX AND STREAMLINING FIELD OFFICE PROFESSIONAL SERVICES INSURANCES - BAILS PUBLICITY AND MARKETING COMPANY INCORPORATION COMPANY TAXES MANAGEMENT MANAGEMENT EXPENSES SALES EFFORTS

102,950.00 365,412.12 24,700.00 145,900.00 36,800.00 132,055.00 1,500.00 3,000.00 813,904.00 348,816.00 348,816.00

0.88 3.14 0.21 1.26 0.32 1.14 0.01 0.03 7.00 3.00 3.00

FINANCING

234,150.00

2.02

35,600.00

0.31

LAND PURCHASE PROJECT COSTS DIRECT COSTS:

HOMES â€“ INFRASTRUCTURE CONSTRUCTION INDIRECT COSTS:

TRUST

PROFIT

1,863,364.88

16.03

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

GENERAL DESCRIPTION OF THE PROJECT UD

TOTALES

LAND DISTRIBUTION:

-M2 OF LAND -COMMON AND TRANSIT AREAS -AREA ALLOCATED FOR HOMES -M2 ALLOCATED FOR LOT

40% 60%

61,867 24,747 37,120 160

M² M² M² M²

INCOME:

232

-AMOUNT OF HOMES -SALE PRICE PER UNIT -TOTAL PROJECT SALES

50,000

- REMUNERATED USEFULNESS TRUST

11,600,000.00 27,200.00

11,627,200.00

PROJECT COMPLETION TIME:

36 MONTHS

LAND PURCHASE UD

TOTALES

LAND PURCHASE:

LAND PURCHASE

61,867 M² 6.19 Ha

556,803.00

LEGALLY ESTABLISHED LOT:

- LEGAL EXPENSES -DRAFTING OF DEEDS, BLUEPRINTS, PUBLIC REGISTRY AND LOT NO. -ANATI APPROVAL

2,650.00 7,900.00 2,980.00 13,530.00

570,333.00

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

PROJECT COSTS DIRECT COSTS

TOTALS

INFRASTRUCTURE CONSTRUCTION: PRELIMINARY AND EARTHWORK

PARCEL STRIPPING/CLEANING EARTHWORK URBAN PLANNING

STREET DISTRIBUTION

42,120.00 435,120.00

510,452.00

INFRASTRUCTURE PLUVIAL POTABLE SANITARY ELECTRIC

322,150.00 97,810.00 164,200.00 124,500.00

WATER RESERVE TANK

WELLING / STAND CONSTRUCTION 25,000-GALLON TANK / STRUCTURE TREATMENT PLANT

123,477.00 170,000.00

ROAD SIGNAGE

26,150.00

COMMON AREAS

60,870.00 2,076,849.00

HOME CONSTRUCTION:

AMOUNT OF HOMES TO BE BUILT

232

CONSTRUCTION COST PER HOME

19,500.00 4,524,000.00

6,600,849.00

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

PROJECT COSTS INDIRECT COSTS

TOTALS

BLUEPRINT DEVELOPMENT AND FOLLOW-UPS: DRAFT DESIGN FOR:

SUBDIVISIONS

AREAS ALLOCATED FOR HOMES

AREAS ALLOCATED FOR COMMON USE

25,000.00

25,000.00 DEVELOPMENT OF INFRASTRUCTURE CONSTRUCTION BLUEPRINTS:

PLUVIAL

SANITARY

POTABLE

PAVING

ELECTRIC PLANS

51,000.00

51,000.00 DEVELOPMENT OF HOME CONSTRUCTION BLUEPRINTS:

ARCHITECTURAL

STRUCTURAL

ELECTRIC AND SPECIAL SYSTEMS

PLUMBING

26,000.00

102,000.00

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

PROJECT COSTS UD

TOTALS

STUDIES – LICENSES AND TAXES - STREAMLINING: STUDIES 14,500.00 2,400.00 3,450.00 7,800.00 8,200.00 7,400

ENVIRONMENTAL IMPACT TRANSIT WELLS SOIL HYDROLOGICAL OTHER STUDIES

43,750.00

LICENSES – PERMITS – FEES

PERMIT – ANAM TAX MUNICIPAL EARTHWORK PERMIT MUNICIPAL INFRASTRUCTURE PERMIT: - 1% OF FIRST B/.500,000.00 IN HOME PRICES - 1.25% OF NEXT B/.500,000.00 - 0.25% ON REMAINDER

MUNICIPAL HOUSING PERMIT -1% OF FIRST B/.500,000.00 IN HOME PRICES -1.25% OF NEXT B/.500,000.00 -0.25% ON REMAINDER%

HYDRO CONNECTION PERMIT FIRE PERMIT OCCUPANCY PERMIT ANATI TAX M.I.V.I. TAX 1.50% INCOME TAX ON HOME SALE PRICE MINSA STAMP DUTY OTHER TAXES

8,500.00 16,100.00 5,000.00 6,250.00 2,692.12 5,000.00 6,250.00 8,810.00 4,000.00 18,560.00 11,600.00 7,500.00 6,500.00 174,000.00 3,400.00 7,500.00

1.50%

291,662.12 30,000.00

PROCESS STREAMLINING

365,412.12

FIELD OFFICE: MOBILE OFFICE RENTAL FURNISHINGS PC, PRINTER, EQUIPMENT UTILITIES (HYDRO, TEL., CABLE, INTERNET, MOB.)

450.00 1,500.00 2,500.00 125.00

16,200.00 1,500.00 2,500.00 4,500.00

24,700.00

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

PROJECT COSTS UD

TOTALS

PROFESSIONAL SERVICES:

47,500.00 1,800.00 2,500.00 21,000.00

TOTAL TOPOGRAPHY SERVICES RESIDENT ENGINEER PROJECT SECURITY AGENCY AREA MAINTENANCE WARRANTY PERIOD

47,500.00 32,400.00 45,000.00 21,000.00 145,900.00

INSURANCE:

36,800.00

INSURANCES - BAILS

36,800.00

PUBLICITY AND MARKETING: MARKETING DESIGN AND ART

450.00 650.00 75.00 185.00 3,700.00 2,600.00

IMAGE DEVELOPMENT WEB AND SOCIAL NETWORK DESIGN MONTHLY WEBSITE UPDATE STATIONERY DESIGN PROJECT MOCK-UP 3D IMAGE

450.00 650.00 1,800.00 185.00 3,700.00 2,600.00 9,385.00

REAL ESTATE FAIRS AND EVENTS REAL ESTATE FAIRS: -SPACE RENTAL -STAND/FURNITURE RENTAL/DECORATION -FAIR LOGISTICS -HOSTESSES AND SALES PROMOTERS -FOOD AND DRINK -TRANSPORTATION INFORMAL FAIRS

5 5,940.00 4,450.00 340.00 2,400.00 780.00 150.00

14,060.00

70,300.00

1,450.00

7,250.00 77,550.00

PRINTING FLYERS, BROCHURES, HANDOUTS

2,700.00

2,700.00 2,700.00

PROMOTIONAL MATERIAL SHIRTS AND GOLF SHIRTS OTHER PROMOTIONAL MATERIAL

1,450.00 4,870.00

1,450.00 4,870.00 6,320.00

PUBLICITY

BILLBOARDS AND PROJECT SIGNAGE PUBLICITY SPACE RENTALS OUTDOOR PUBLICITY, SPECIALIZED MAGAZINES, PRESS, TV

MODEL HOME ADAPTATION

14,500.00 950.00

17,100.00

31,600.00 4,500.00

132,055.00

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

PROJECT COSTS UD

TOTALS

COMPANY INCORPORATION:

DRAFTING OF ARTICLES OF INCORPORATION NOTARIAL EXPENSES OPERATION LICENSE MUNICIPAL REGISTRATION C.S.S./D.G.I. REGISTRATION TECHNICAL BOARD REGISTRATION

1,500.00 1,500.00

COMPANY TAXES:

MUNICIPAL TAXES ANNUAL LICENSE FEE

1,500.00 1,500.00 3,000.00

VISITAS SEGUIMIENTO PROYECTO:

MANAGEMENT:

HEADQUARTER DIRECTION OF WORK DIRECTION ADMINISTRATION AND FINANCE LEGAL DIRECTION DIRECTION MARKETING AND ADVERTISING

22,608.44 813,904.00

MANAGEMENT EXPENSES: OFFICE RENTAL UTILITIES (HYDRO, TEL., CABLE, INTERNET, MOB.) PRINTING, STATIONERY, AND CLEANING SUPPLIES PRINTER LEASES AND PHOTOCOPIES GENERAL MAINTENANCE (OFFICE, A/C, ETC.) CAR RENTAL FUEL FOOD AND PER DIEMS SERVICES ACCOUNTANT ADMINISTRATIVE ASSISTANT

9,689.33 348,816.00

SALES: SALES EFFORTS: SALES MANAGEMENT SALES PROMOTER PROCEDURES

3% 348,816.00

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

FINANCING UD

TOTALS

FINANCING: BANK LOANS

OPENING AND CLOSING EXPENSES

DRAFTING OF LOAN

LEGAL EXPENSES

DRAFTING OF LOAN

PROPERTY APPRAISAL

234,150.00

PROJECT INSPECTOR

TRUST: 5,000.00

ESTABLISHMENT MONTHLY CONTRACT

850.00 $ / mes

30,600.00 35,600.00

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

FINANCIAL SUMMARY PER PROJECT AND TRUST

PROJECT

6,2 Ha

11,3 Ha

OWN INVESTMENT FUNDS

1,750,000.00

2,750,000.00

PROJECT PROFIT

1,863,364.88

3,422,124.63

INVESTOR 70% PROFIT

1,304,355.42

2,395,487.24

24,84%

29,03%

599,009.46

1,026,637.39

ANNUAL INTEREST OF INVESTMENT FUNDS 30% PROFIT

INVESTMENT RECOVERY

LEGAL VEHICLE

MONTH 36 PROFIT MONTH 39

TRUST

PROJECT TERM 36 MONTHS

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

TRUSTEE In charge of the management and strict compliance with the provisions of the trust deed.

SETTLORS

INVESTOR Provides the funds needed for land purchase and project construction

GRUPO SINGULAR Provides the know-how required for the development of real estate projects in Panama.

TRUST A legal act (deed) whereby the title transfer of assets and/or securities by the settlors to a person, duly authorized for this activity (trustee), is permitted. The latter manages said assets and/or securities in favour of the beneficiaries, in accordance to the rules and parameters set forth in the deed. This allows for the trust assets to be protected from seizure.

GRUPO SINGULAR (Project Promoter)

PROJECT MANAGEMENT MANAGEMENT SALES ARCHITECTS CONTRACTORS PROVIDERS

BENEFICIARIES

Receive $ and/or completed project units as compensation for their contributions.

INVESTOR

70%

GRUPO SINGULAR 30%

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

STATEMENT OF INCOME

UPON COMPLETION OF THE PROJECT / 11.3 Ha AMOUNTS IN BALBOAS

INCOMES: SALES TOTAL OF THE PROJECT 420 HOMES REMUNERATED ACCOUNT TRUST

LAND PURCHASE 112,861 M2

21,038,250.00

100

1,029,333.00

4.9

12,299,950.00

58.5

145,950.00 578,699.88 24,700.00 145,900.00 44,870.00 215,000.00 1,500.00 3,000.00 1,472,677.50 631,147.50 631,147.50

0.69 2.75 0.12 0.69 0.21 1.02 0.01 0.01 7.00 3.00 3.00

345,000.00

1.64

48,200.00

0.23

PROJECT COSTS DIRECT COSTS:

CONST. DE LA INFRAESTRUCTURA - VIVIENDAS INDIRECT COSTS:

FINANCING TRUST

PROFIT

3,422,124.63

16.27

GRUPO SINGULAR

VILLA CAROLINA RESIDENCES

BUSINESS PROPOSAL

• GRUPO SINGULAR WILL BE THE PROJECT’S PROMOTOR, IN CHARGE OF MANAGEMENT, DIRECTION, SALES AND OTHER ACTIVITIES REQUIRED IN ORDER TO COMPLETE THE PROJECT. • THE DEVELOPMENT OF THE PROJECT UNDER A TRUST VEHICLE, WHEREIN THE INVESTOR (70%) AND GRUPO SINGULAR (30%) ARE THE BENEFICIARIES.

Several studies show that, despite the Republic of Panama’s steady growth, there is still a housing deficit with respect to public housing; this is why we have focused especially on this area, with our proven and successful ability to develop, build and commercialize Public Housing works, as shown through our “Pacora Park Residences” project. Thanks to our commercial and professional track record, we have become the primary social housing development building and selling group in Panama.