Dar Alamar 3

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This 168m² property is located at 800m from the Holy mosque. It is leased from one of the local for 12 years at $26,500 per annum with the first two years free. The capital of this project is as follows:

Construction cost (168m² x 6.5 stories x $270/m²)	$295,000
Commissions to solicitors	$27,000
Cost of engineering drawings & follow up with municipality	$12,000
Cost of connecting electric power & sewer service	$71,000
Total:	$406,000

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%21

With a capacity of 235 pilgrimages, at $480 per person, return is as follows:

First year return (no rent) = 235 x 480 / 406,000 = %27.8

Less Dar Alamar commission %3

Net return on first year %24.8

IROR for following 10 years = (235x480) - 26500 / 406,000 = %21.3
Less Dar Alamar commission %3 = %18.3 per year

Participation Open
With a $67,000 minimum / share