EFTA00851353.pdf

From: "Marc Leon " < To: mjeffrey E.'" <jeevacation@gmail.com> Subject: RE: Date: Tue, 14 Jul 2015 09:52:53 +0000 Dear Jeffrey, I understand all your comments and I would never insure this property. Your friendship with Jaseem is the best security. Did not see the values determined by the firms. It will be difficult to avoid all the terrorist attacks in any place of the world. But no more or less risk in Marrakech than in Paris, Madrid and may be in Doha. The Sheikhs from Middle East didn't invest in Tunisia or in Algeria. They do it massively in Morocco. If they trust in Morocco's future, we all can also do it. You mention some friends who would not pay more than 25 million. I know their theory. - Price per hectare: 2 million for well planted plots - Price per sq. meter: around 2 500 €, which is a ridiculous price given some years ago by a Moroccan architect If you add everything you will arrive at more or less 25 million. This calculation was may be correct for the purchase made by Rossi. They priced a shell and renovate everything, because there was no valuable art work. You cannot apply it for Dar Olfa: more or less 4 000 € / sq. meter For Bin Ennakhil, you are probably at 15 000 € / sq. meter for the main building. Impossible to price it really. You have only two ways to approach Bin Ennakhil: You don't have the feeling and you offer 25 million or may be less It is your dream and you add a real goodwill. You know that with 2 or 3 additional million you will increase seriously the value of this monument. I hope that you will not have more headache with my comments. Regards Marc LEON Managing Director KENSINGTON Finest Properties Marrakech Sarlau License partner of KENSINGTON Finest Properties International Exclusive affiliate of CHRISTIE'S International Real Estate Private Office Marrakech Tel.: Fax: Cell: Cell: EFTA00851353 www.kensington-morocco.com De : jeffrey E. [mailto:jeevacation@gmail.com] Envoye : lundi 13 juillet 2015 18:52 A: Kensington Objet : I guesss you are not surprised by the values that the firms have determined , 1. only ten acres. 2. currently need new mechanicals . wiring, guest house, or houses.. . 2. virtually unsalable at the moment. 3 political risk, high to extreme according to markets. can not get insurance for more than 15 million. and that is a stretch. I m aware that your client will not currently sell for under 50m. but it ,by all accounts, is at least twice market. I spoke to some of the other houses on your list , and none would sell for more than 25.. not sure what to do. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00851354