On behalf of all direction of the GS Residential Properties it would like to be thankful all for the presence.
We will divide ours roadshow of two stages, are they:
First stage: Presentation of the goals of the GS Residential Properties for 2008.
Second stage: Round of questions of the shareholders and guests to the Directors gifts.
One more time obliged for the presence and it would like to pass the word to Mr. Benoir.
Mr. Benoir :
We carry through in this beginning of 2008 some important acquisitions for land bank of the GS Residential Properties.
We acquire 8000SQM for L$ 26,000 where we construct a condominium of high luxury with 5 houses with average rent of l$ 950.
In these last weeks we are negotiating sale of the land for a value above of the divulged one in the site of the VSTEX.
We acquire one another area of 8000sqm to construct another condominium in same the molds of the Saint Tropez, where almost the one inaugurated.
Mr. Sabbas Mills :
The goals for 2008 are:
1) Acquisition of lands for increase of ours land bank.
2) Construction of 2 new condominiums of high standard with average value of weekly rent of L$ 1200.
3) Construction of 1 great condominium of simple houses with average weekly rent of L$ 250.
4) Acquisition of 100% of Zora and to transform it into great polo of integration for novices and residents with low - average purchasing power, generating a financial movement weekly average of L$ 156.000.
Cash Flow February /2008
We initiate the month of February with a box of L$ 215,000, below we will demonstrate to the flow of box of this month:
Credits (Entrance) :
- balance of the month January..........: L$ 215.000
- Rentals - Saint Tropez.....................: L$ 15,600
- Rentals - Beach Houses...................: L$ 8,440
- Rentals - Ocean Breeze...................: L$ 16,600
- Land Sale (Beach Houses).................: L$ 26,000
- Land Sale (Farol Beach).....................: L$ 18,000
- Received total of in February..: L$ 299.640
Debits (exit) :
- Tier Land Saint Tropez..................................: L$ 12,300
- Tier Land Beach Houses................................: L$ 8,000
- Tier Land Ocean Breeze................................: L$ 15,000
- Acquisition of land..........................................: L$ 15,000
- Rent office of attendance to the Customer.: L$ 300
- Wage leaf.........................................................: L$ 25,000
- Total of debits in February...............: L$ 75,600
Cash Flow February...................................: L$ 224,049
Seignoux Benoir - General Manager
Sabbas Mills -CEO
