<table><tr><th>From:</th><th>Alex Peto</th></tr><tr><td>Sent:</td><td>Sunday, December 23, 2018 9:34 AM</td></tr><tr><td>To:</td><td>Karyna Shuliak</td></tr><tr><td>Subject:</td><td>Marrakech Property</td></tr></table>

Dear =aryna

It was a =leasure to meet you and show you some properties during your visit to =arrakech. Below is a brief synopsis of each of the 3 properties you =aw.

Bin =nnakhil - the asking price remains at 55m euros but as discussed this =rice is negotiable and we had it under contact last year but due to =ealth reasons the purchaser had to pull out. I now believe an offer =irca 35m euros would be acceptable. This property is unique and will =ever be able to be recreated, it is a work of art or a monument as much =s fabulous property.

Dar Olfa - like Bin Ennakhil the asking price remains at 65m =uros and was also under contact last year but due tax reasons the deal =id not go ahead - it is likely a figure around 40 - 45m euros would be =cceptable. The only comparable recent sale was in this compound known =s Bab Atlas and was the sale of the largest property there for a =eputed 100m euros to The Emir of Qatar.

Ksar Swari - also located in Bab Atlas =ith an asking price of 30m euros is less negotiable. This property is =wned by the developer of the whole project and as you saw has some =onderful workmanship with hand carved cedar ceilings and beautiful =ardens. As it is lived in most of the year it has a much warmer or =omely feeling to the all the others you saw.

The very high end property market in =arrakech is as expected a tiny part of the market and there are no =omparable sales since the purchase by the Emir however right now Ali =ongo from Gabon and Al Nahyan family of Abu Dhabi are both building =alaces which will cost over 40m euros each.

Normally when purchasing a property in =orocco one should add approximately 10% to the purchase price spilt 6% =n government taxes, 1% Notaire fees and 3% real estate agency fees =owever in the case of Bin Ennakhil for example as the property is owned =y a company in Lichtenstein there are no government taxes to be paid in =orocco.

I am sending via wetransfer more pictures of Bin Ennakhil, =sar Swari and Dar Olfa and you have the PDF brochures for each =roperty.

I look forward to hearing from you and of course I remain at =our disposal should you have any more questions.

Kind regards

Alex

Alex =eto
Partner

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