<table><tr><th>From:</th><th>Karyna Shuliak</th></tr><tr><td>Sent:
To:</td><td>Wednesday, January 2, 2019 3:52 PM
Jeffrey</td></tr><tr><td>Subject:</td><td>Fwd: Marrakech Property</td></tr></table>

=br>

Begin forwarded message:

=div dir="ltr">From: Alex Peto .zz > Date: January 2, 2019 at 10:17:35 AM ES= To: Karyna Shuliak Subject: Re: Marrakech Prop=rty

Dear Karyna

Happy New Year.

I thought I would check you well received all the pho=os and information I sent through and wondered if there was any feedback?</=iv>

All the best
<=iv class="">

Alex

=div class="">
Alex Peto
Pa rtner<kont>
&n=sp:

&nb=p;www.k=nsingtonmorocco.com <http://www.kensingtonmorocco.com/>

Find us on Facebook <https://www.fac=book.com/kensingtonmorocco/> | <=
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=nbsp; Private Office Marrakech

1st Floor, Imm El Pacha 67 Rue Ibn Khaldoun, 40000

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This e-ma=l may contain confidential and/or privileged information. If you are not th= intended recipient (or have received this e-mail in error) please notify t=e sender immediately and destroy this e-mail. Any unauthorized copying, dis=losure or distribution of the material in this e-mail is strictly forbidden=

<=iv class="">On Dec 23, 2018, at 10:34, Alex Peto > wrote:

## Dear Karyna

It was=a pleasure to meet you and show you some properties during your visit to Ma=rakech. Below is a brief synopsis of each of the 3 properties you saw.

Bin Ennakhil - the ask=ng price remains at 55m euros but as discussed this price is negotiable and=we had it under contact last year but due to health reasons the purchaser h=d to pull out. I now believe an offer circa 35m euros would be acceptable. This property is unique and will never be able to be recreated, it is a work o= art or a monument as much as fabulous property.

Dar Olfa - like Bin Ennakhil the asking pric= remains at 65m euros and was also under contact last year but due tax reas=ns the deal did not go ahead - it is likely a figure around 40 - 45m euros w=uld be acceptable. The only comparable recent sale was in this compound kno=n as Bab Atlas and was the sale of the largest property there for a reputed=100m euros to The Emir of Qatar.

=div class="">Ksar Swari - also located in Bab Atlas with an asking price o= 30m euros is less negotiable. This property is owned by the developer of t=e whole project and as you saw has some wonderful workmanship with hand car=ed cedar ceilings and beautiful gardens. As it is lived in most of the year=it has a much warmer or homely feeling to the all the others you saw.

=div class="">

The very high end prope=ty market in Marrakech is as expected a tiny part of the market and there a=e no comparable sales since the purchase by the Emir however right now Ali B=ngo from Gabon and Al Nahyan family of Abu Dhabi are both building palaces w=ich will cost over 40m euros each.

Normally when purchasing a property in Morocco one should a=d approximately 10% to the purchase price spilt 6% in government taxes, 1% N=taire fees and 3% real estate agency fees however in the case of Bin Ennakh=l for example as the property is owned by a company in Lichtenstein there a=e no government taxes to be paid in Morocco.

I am sending via wetransfer more=pictures of Bin Ennakhil, Ksar Swari and Dar Olfa and you have the PDF broc=ures for each property.

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

## Kind regards

## Kind regards (cont.)

Alex

## Alex Peto

Partner

<=pan lang="FR-MA" class=""> www.kensingtonmorocco.com <http://www.kens-ngtonmorocco.com/>

Find us on Facebook <https://www.facebo=k.com/kensingtonmorocco/> | Instagram=/span> | Twitter</=p>

<=span>
Private Office M=rrakech
</=pan>
1st Flo=r, Imm El Pacha
67 Rue Ibn Khaldoun, 40000
Marrakech
Morocco

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=span class="">

Please consider the environ=ent before printing this email.

This e-mai= may contain confidential and/or privileged information. If you are not the=intended recipient (or have received this e-mail in error) please notify th= sender immediately and destroy this e-mail. Any unauthorized copying, disc=osure or distribution of the material in this e-mail is strictly forbidden.=/span>