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Coldwell Banker Real Estate Corporation

Investment Teaser. DMC International Business Center February 6th, 2006. Coldwell Banker Real Estate Corporation. CITY BRIDGE. Project Overview. Chapter 1. 01. Intro of DMC 1 02. Intro of IBC 7 03. Architecture Overview 9 04. Project Structure 14.

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Coldwell Banker Real Estate Corporation

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  1. Investment Teaser DMC International Business Center February 6th, 2006 Coldwell Banker Real Estate Corporation CITY BRIDGE

  2. Project Overview Chapter 1 01. Intro of DMC 1 02. Intro of IBC 7 03. Architecture Overview 9 04. Project Structure14

  3. 01. Introduction of DMC 1. Seoul DMC (Seoul Digital Media City)? • DMC is located in Sangam Dong, Mapo-Gu, Seoul over 569,738 Square Meter, and it has an envision to become the World’s foremost production center for digital media content, a world-class industrial-academic research center, the best business city in North East Asia. • DMC is Korean government initiated project led by the city of Seoul and managed by Seoul Metropolitan Development Corporation. • The basic plans for DMC development were formally announced by the city of Seoul in April 2000. • To successfully complete the project, the city of Seoul composed a task force team made up of around 30 city workers. • The land in DMC has been selling since May 2002, and currently about 46% (151,075 Square Meter)of the land designated as land for sale has been sold. • The total of 1,070 billion Won was invested in DMC to prepare the land. • The city of Seoul is providing various incentives including tax and finance incentives.

  4. 01. Introduction of DMC –Continued, 2. Overview of DMC • Location : New Millennium City District, Sangam-Dong, Mapo-Gu, Seoul • Land Area : 569,738㎡ (172,346 Pyung) • Development period : Yr. 2002~ 2010 • Government in Charge : The City of Seoul and Seoul Metropolitan Development Corporation 3. Location of DMC • 7Km from the downtown Seoul • Takes 30 minutes (41Km) by driving to Inchon International Airport. • High-Speed Railway to be built to Inchon international airport. • Susa다 Subway Station is 3 minutes away by walking • Sangam World Cup stadium is 10 minutes away by walking • Restoration of Kyungyee Rail way, New construction of #2 Sungsan Bridge • Connection to many new districts: Magok District (New High Tech), Chongla District (Leisure and Attractions), Youngjong District( International logistics and support for air services) Songdo District (International business and knowledge information)

  5. 01. Introduction of DMC –Continued, 4. DMC Vision & Concept • The Specific vision is for the City to evolve into a world-class production center for digital media contents, • A world-class center of academic-industrial cooperation in digital media technology, • Becoming the leading business hub for the North East Asia region. • A world-class center of academic-industrial Cooperation in digital media technology. • Display of various educational contents forbroadcasting, games, animation and other various digital media. • Provide most attractive space for advancing digital media contents. • Hand-on experience space for advanced IT products • The main business center for the North East Region in 21st century.

  6. 01. Introduction of DMC –Continued, 5. Land supply of DMC “As of January 2006, 28 lots (45,700PY) which made up 46% of 48 lots, have been sold.” Plan to announce Sales plans in February, 2006 Sold Sold Not sold 6. Upcoming plans for DMC DMC Basic development plan Promotion and marketing activities and attracting major tenants Supplying lands Completion of infrastructure and major buildings Completion of major buildings

  7. 01. Introduction of DMC –Continued, 7. Incentives COME JOIN US for the promising future Best business infra Easy access to administration • The Top world class networks of infra structure. • Specifically assigned social workers for foreign investors • Unified management of foreign investment Incentives for foreign Investors Low Land Price • Designation of foreigners only zone, additional evaluation points in bidding • Preferable tenants for offices • Designation of foreigners only office zone • Various investment promotion incentives 50years land and building leasing. • Low Land Price • Installment payment for land • Low interest for installment payment

  8. 02. Introduction of IBC 1. IBCProject (International Business Center)? IBC will be 132 upper ground floors with 540 meter height, and it will encompass an international business hotel, service residences, apartments, shopping mall, convention center which makes it truly a multi-complex for international business. • Project : International Business Center Development (‘IBC’) • Location : Block F1, F2 and Green Area 6 in DMC • Area : 37,258㎡ (11,270PY) • Development Period : Yr. 2006~ 2012 • Announcement of Developer: 2nd half of 2006. • Goals : Building a landmark which represents itself as the most advanced business center in Korea. Include most well organized multi complex of hotel, office, shopping and residential area. Specially designed zone F-Block (Block for a Landmark building)

  9. 02. Introduction of IBC 2. IBC Concept & Planned Facilities The Best Business Center in North East Asia Region IBC Development Concept IBC’s facilities to be implemented Gate for opening up future for international city of Seoul 미래를 The center for international business First Class Hotel Convention Center Offices Futuristic Apt Shopping Mall • Tenants of most reputable companies in the world • Most expense and lucrative office building in Korea • Best location for international travelers • Most well recognized hotel in Korea due to its height • For international conferences and affairs • Luxury large Apt. • High class facilities • Most safe security system • Best brand merchants • Duty Free shops • Relax atmosphere • Multiplex cinemas

  10. 03. Architecture Overview of IBC 1. Architecture overview Of IBC

  11. 03. Architecture Overview of IBC 2. Areas by floors

  12. 03. Architecture Overview of IBC 3. Area Per Use Elec/Mech 3.73% Residence 25.88% Office 25.99% Parking 26.88% Ratio per Facility Facility 69.39% Ratio By Use Culture and Gathering7.34% Hotel 19.73% Commercial 19.73% Clinic&Fitness4.30%

  13. 03. Architecture Overview of IBC 4. Facility Exclusive Area Per Use

  14. 03. Architecture Overview of IBC 5. Detail Breakdown of Residence (Residence Complex) 6. Detail Breakdown of Other Facilities

  15. 04. Project Structure 1. Project Structure and Participants Various parties with different expertise will involve in this project to make the project successful PM Finance Construction Experts in Technical area Architecture CM Strategic Investor Korean Developer Financial Investor Foreign Sales Lease + Return of Investment Investment Project Finance Vehicle (PFV) The City of Seoul Construction Company Sales of Land Bidding Complete of Construction Loan Banks Paying Back Inspection Service Assign 자금관리자 Asset Management (AMD)

  16. 04. Project Structure 2. Participants Finance Project Management CITY BRIDGE Deutsche Bank Kyobo Life Sales & Marketing Seven Mountain Group Coldwell Banker Real Estate Corporation Others Construction Company Dalim Industrial Kolon Info.Com㈜ Samsung Construction Turner Construction Company

  17. 04. Project Structure 3. Time Schedule 2006 2007 2008 2009 2012 2010 2011 Announcement of land supply Preparing of business plan Submission of business plan Evaluation of business plan by the city of Seoul Selection of the developer Planning for zoning Discussion for zoning Apply for zoning Evaluation of zoning Completing of zoning Traffic / Environ. study Evaluation of construction by Mapo-Gu Evaluation of construction of the City of Seoul Submission of Traffic / Environ. Study Completion of evaluation of construction Apply for project approval Review Project approval Ready for construction Begin construction Construction Apply for approval of completion of construction Complete construction 8

  18. Feasibility Study Chapter 2 01. Project Revenue 18 02. Project Cost 20 03. Project Income before Operation 24 04. Project Cash flow 25 05. IRR & NPV 30 06. Sensitivity Study 33

  19. 01. Project Revenue • Scenario 1 – Selling Every Facility 2. Scenario – Leasing Office Building

  20. 01. Project Revenue– Continued, 3. Scenario 3 – Operating Hotel, Leasing Office Building * Sales Area for office building, business hotel and convention center are based on total floor area. Other facilities are based on saleable area.

  21. 02. Project Cost 1. Scenario 1 • Project Cost for scenario 1 is as follows. (Unit: KRW Million)

  22. 02. Project Cost – continued, 1. Scenario 1 –Continued, (Unit: KRW Million)

  23. 02. Project Cost – continued, 1. Scenario 1 –Continued, (Unit: KRW Million)

  24. 02. Project Cost – continued, 2. Summary of Project Cost • Summary of project costs for each scenario is as follow. (Unit: KRW Million)

  25. 03. Project Income before operation 1. Project Income per Scenario • Project Income per Scenario with capital investment of KRW 250 Billion. (Unit: KRW Million)

  26. 04. Project Cash Flow 1. Scenario 1 • Yearly cash flow for Scenario 1 is as follow. (Unit: KRW Million) Cash flow from Operation

  27. 04. Project Cash Flow – Continued, 2. Scenario 2 • Yearly cash flow for Scenario 1 is as follow. (Unit: KRW Million) Cash flow from Operation

  28. 04. Project Cash Flow – Continued, 2. Scenario 2 – Continued, (Unit: KRW Million) Cash flow from Operation

  29. 04. Project Cash Flow – Continued, 3. Scenario 3 • Yearly cash flow for Scenario 1 is as follow. (Unit: KRW Million) Cash flow from Operation

  30. 04. Project Cash Flow – Continued, 3. Scenario 3 – Continued, (Unit: KRW Million) Cash flow from Operation

  31. 05. IRR & NPV 1. Scenario 1 (Unit: KRW Million)

  32. 05. IRR & NPV 2. Scenario 2 (Unit: KRW Million)

  33. 05. IRR & NPV 3. Scenario 3 (Unit: KRW Million)

  34. 06. Sensitivity Study 1. Capital Investment • Changing capital investment by KRW 50 Billion. (Unit: KRW Million) A. Scenario 1 B. Scenario 2 C. Scenario 3

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