Al Qorym Engineering Consultancy
Date: 28/12/2023
Topic: Economic FeasibilityStudy
Project: Workers cityin Khalifa Industrial City/ KIZAD
Sector: Khalifa Industrial City B- Plot Number: P175
Addressed to: [Link] Diaa Mohamed, Taqa Investment and project Funding.
Through Mr Kunjumohamed Naseem
First: Project Location:
The project is located in Khalifa Industrial City / KIZAD (Zone:Khalifa Industrial City B - Plot Number:
P175) in Abu Dhabi.
Second: Project Description:
The project consists of the following buildings and services:
1- (5) No. Residential Worker Buildings, each building accommodates (1280 worker).
2- (2)No. Residential Buildings for housing observers, each building accommodates (600 observer) and
total number of (1200 observer).
3- (1) No. Residential Building for Technicians, each building accommodates (320 Technician).
4- Commercial mall building area (15000) m2.
5- Multipurpose shops building area (616) m2.
6- Laundry Building area (600) m2.
7- (2) No. kitchen and restaurant buildings area (4800) m2 for each building, and total area of (9600)
m2.
8- (2) No. Clinical Buildings with area (1000) m2 for each building, and total area of (9600) m2.
9- Mosque Building area (2500) m2.
10- Administration Building area (1849) m2.
11- Electrical Transformers Room and servicesarea (1250) m2.
12- (3) No. Security Room Buildings area (21) m2 for each building, and total area (63) m2.
13- Purification station building area (3000) m2.
14- Interior roads area (36878) m2.
15- Stadiums and green areasarea (30782) m2.
16- Exterior and Interior BoundaryWalls length (2281) m2.
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P.O. Box: 114477 Abu Dhabi- U.A.E. Tel: +971 2 644 1886 Fax: +971 2 644 1889
E-mail: alqarm@[Link]
Al Qorym Engineering Consultancy
Third: Estimated Cost of Project:
According to the current prevailing cost, the expected cost for project including consultant fees a re os
follows:
Building Area m2 Cost per m2 Total Cost
1 Residential Workers Building 75,000.00 2,700 202,500,000
2 Observers Residential Building 22,000.00 2,800 61,600,000
3 Technicians Residential Building 11,400.00 3,000 34,200,000
Administration Building 1,849.00 3,000 5,547,000
5 Multipurpose shops building 616.00 2,800 1,724,800
6 Laundry Building 600.00 2,800 1,680,000
7 Mosque Building 2,500.00 4,500 11,250,000
8 Kitchen and Restaurants buildings 9,600.00 2,700 25,920,000
9 Clinical Buildings 2,000.00 3,000 6,000,000
10 Security Room Buildings 63.00 2,500 157,500
11 Commercial mall building 15,000.00 3,000 45,000,000
12 Exterior and Interior Boundary Walls 2,281.00 1,200 2,737,200
13 Interior roads 36,878.00 220 8,113,160
14 Electrical Transformers Room and services buildings 1,250.00 2,200 2,750,000
15 Stadiums and Agricultural areas 30,782.00 300 9,234,600
16 Sewage purification plant 3,000.00 3,200 9,600,000
17 Total Cost of project including Vat 428,014,713
18 Adding VAT (5%) 21,400,713
19 Total cost including Vat 449,414,973
Fourth: expected annual return of the project
Based on the current issue and the expected development of the rental and labor market in Abu Dhabi,
the expected annual return of the project is given as the occupancy rate (80%) for workers
accommodation, observers and technicians are as follows:
Building Expected Annual Return Total Cost
1 Residential Worker Buildings 6400 worker x 700 Ohs x 12 Month x 80% 43,008,000
2 Observers Residential Buildings 1200 observer x 1200 dhs x 80% 13,824,000
3 Technicians Residential Building 320 technicians x 2,500 x 80% 7,680,000
4 Multipurpose shops building 616 m2 x 500 Dhs yearly 308,000
5 Laundry Building 600 m2 x 400 Ohs yearly 240,000
6 Kitchen and Restaurants buildings 9600 m2 x 300 Ohs yearly 2,880,000
7 Clinical Buildings 2000 m2 x 500 Ohs yearly 1,000,000
8 Commercial mall building 15,000 m2 x 75% rental area x 600 dhs yearly per 5,400,000
meter x 80% occupancy rate
9 Expected Annual Return 74,340,000
10 Deducting Cost of Security, Administration, and expected maintenance 4,340,000
11 Net Expected Annual Return 70,000,000
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P.O. ox : 114477 Abu Dhabi- U.A.E. Tel: +971 2 644 1886 Fax: +971 2 644 1889
E-mail: alqarm@[Link]
Al Qorym Engineering Consultancy
Fifth: Summary of the economic schedule of the project
1- The contractor has been hired to implement the project at a cost of (441,000,000.00) Dhs (only Four
hundred and forty-one million dirhams, only), this amount includes the costs of establishing and
implementing all works, the consultant's fees for design and supervision, and vat, and the term of
implementation (27) month.
2- Net Expected Annual Return for the project considering {80%) occupancy rate amount is
70,000,000.00 Ohs.
3- Thus, it is expected that the project cost will be covered within a maximum period (6.5) years.
With Best Wishes
Al Qory nsultancy
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P.O. Box: 114477 Abu Dhabi- U.A.E. Tel: +971 2 644 1886 Fax: +971 2 644 1889
E-mail: alqarm@[Link]
