<table><tr><th>From:</th><th>Karyna Shuliak</th></tr><tr><td>Sent:</td><td>Thursday, January 3, 2019 3:20 PM</td></tr><tr><td>To:</td><td>Jeffrey</td></tr><tr><td>Subject:</td><td>Fwd: Marrakech Property</td></tr></table>

=br>

Begin forwarded message:

=div dir="ltr">From: Alex Peto Date: January 3, 2019 at 9:49:10 AM EST=br>To: Karyna Shuliak < There have been many offers for Bin Ennakhil and th=re is currently one on the table for around 30m euros but it has not been a=reed. <mailto </a>><br><b>Subject:</b> <b>Re: Marrakech Prope=ty</b><br><br></div></blockquote><div dir=>

I wil= of course let you know if it sells or indeed if it falls through but a fig=re between 15m - 20m euros is not of interest to the vendor.

If you could come back and have a=other look in the spring should it remain available it would be great.

All the best

Alex

<signature> <=r class="">

Alex Peto
Partner</=ont>
&n=sp;

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

Find us on Facebook <https://www.facebook.com/kensingtonmorocco/> | <= href="https://www.instagram.com/kensington.morocco/" style="color: rgb=149, 79, 114);" class="">Instag=am | Twitter=/o:p>

=nbsp; Private Office Marrakech

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

Please consider the enviro=ment before printing this email.

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 Jan 2, 2019, at 17:31, Karyna Shuliak <██████████████████> wrot=:

<=iv dir="auto" class="">
Dear Alex,

Thank you very much , hope you had a nice holiday.</=pan>

We were told that an offer had been accepted=in the low 20s by another buyer. We think a price between 15 an= 20 would be as high as we would go, and that would include all taxes. We c=lcualted that at least 5- 10 months would be needed and 18 months to finish=the guest part, redo plumbing, electrical and infrastructure, which frankly=appeared quite old. If your other offer falls through, please contact=me. Otherwise thank you very much for your time. We understand sellers can s=metimes be stubborn, but there is a reason that this has been on the market=for so long without a sale.

<signature> Happy New Year.

=div dir="ltr" class="">

## Karyna

=n Jan 2, 2019, at 10:17 AM, Alex Peto < class=»

wrote:

Happy New=Year.

I thought I=would check you well received all the photos and information I sent through=and wondered if there was any feedback?

All the best

Alex

## Alex Peto

Partner

## Alex Peto (cont.)

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

<unknown.png>

=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>

On Dec 23, 2018, at 10:34, Alex Peto <████████████> wrote:

Dear Karyna

Bin Ennakhil -=the asking price remains at 55m euros but as discussed this price is negoti=ble and we had it under contact last year but due to health reasons the pur=haser had to pull out. I now believe an offer circa 35m euros would be acce=table. This property is unique and will never be able to be recreated, it i= a work of art or a monument as much as fabulous property.

Dar Olfa - like Bin Ennakhil the ask=ng price remains at 65m euros and was also under contact last year but due t=x reasons the deal did not go ahead - it is likely a figure around 40 - 45m=euros would be acceptable. The only comparable recent sale was in this comp=und known as Bab Atlas and was the sale of the largest property there for a=reputed 10Om euros to The Emir of Qatar.

Ksar Swari - also located in Bab Atlas with an askin= price of 30m euros is less negotiable. This property is owned by the devel=per of the whole project and as you saw has some wonderful workmanship with=hand carved 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 s=w.

The very high a=d property market in Marrakech is as expected a tiny part of the market and=there are no comparable sales since the purchase by the Emir however right n=w Ali Bongo from Gabon and Al Nahyan family of Abu Dhabi are both building p=laces which will cost over 40m euros each.

## Alex Peto (cont.)

Normally when purchasing a property in Morocco one s=ould add approximately 10% to the purchase price spilt 6% in government tax=s, 1% Notaire fees and 3% real estate agency fees however in the case of Bi= Ennakhil for example as the property is owned by a company in Lichtenstein=there are no government taxes to be paid in Morocco.

<=r class="">

I am sending via wetrans=er more pictures of Bin Ennakhil, Ksar Swan and Dar Olfa and you have the P=F brochures for each property.

</=iv>

I look forward to hearing from you and of course I remai= at your disposal should you have any more questions. =br class=""> Kind regards 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

<unknown.png>

Please consider t=e environment before printing this email.

<=span>=his e-mail may contain confidential and/or privileged information. If you a=e not the intended recipient (or have received this e-mail in error) please=notify the sender immediately and destroy this e-mail. Any unauthorized cop=ing, disclosure or distribution of the material in this e-mail is strictly f=rbidden.

## Alex Peto (cont.)

</. iv>