What is your idea / business and to whom is it addressed?
1. Brief description of the project. The Land Bank Ltd is a private Limited Liability company involved in Real Estate ventures. Our major focus is to develop premium luxury apartments & Virtual offices to meet the under-served market in Kampala City. Given that the world has since become a global village and as there?s greater demand for flexible services especially in the emerging markets where business is growing exponentially and in a diverse manner. Having identified this gap, The Company Directors decided to venture into modern day real estate services that are uniquely responsive to the increasing market needs; hence the need for Luxury apartments and virtual offices . Our basic concept is to establish Luxury Apartments that provide a combined living and working experience to clients looking to embark on short-long term stays or undertake assignments at the heart of Kampala City, which is home to over 95 % Embassies , multi- nationals (Shell, Total , Unilever, East African Breweries, British American Tobacco, Umeme, Rift Valley Railways), This venture is one of the first of its kind in Kampala. We have reviewed the market to ensure that the services meet the existing demand for these customized services. Many clients are looking for modern day technology that enables connectivity across various locations to ensure business is not affected, in any way and that is what the Land Bank has taken in to account in pursuing this project. The real estate industry In Uganda is lucrative, but setting modern state of the art Apartments and Virtual office facilities is also expensive. The problem: Great demand, less service providers The real estate industry in Uganda is on an upward trend and great potential for good quality accommodation and office services are in great demand but with limited supply. Leading housing Experts have stated that there?s a housing deficit of over 200,000 units in Kampala as of 2018. The heightened demand is due to the influx of high-end clientele in the country such as Oil AND Gas Expertise, UN staff, Embassy staff who need first class accommodation and convenient office space in the City. We are positioning ourselves to be able to tap into this robust demand for these service from that segment of clientele. We have an increase in clientele from Foreign missions, International consultants, Expatriates and Corporation Executives who will require the standard of accommodation that EILAT Serviced Apartments and Virtual Office project will provide. There is currently no single hotel facility/ or modern Apartment that provides combined luxury accommodation with virtual offices in the City What does the project do? The project will provide the following products /Services 1. Virtual private office space 2. Lounge and co-working space 3. Rentals of high end serviced Apartments. 4. Bar, Restaurant and gym What problem does it solve? What kind of need does it satisfy? The proposed 12 Stored Twin Complex will provide Luxury Apartments & Virtual offices which will address the critical shortage of Luxury accommodation for our niche clients who travel and work in the region namely foreign tourists, Embassy staff, Executives from International NGOs, and Multinationals working in the Uganda and , Experts who come for mineral prospecting, Moreover ,the Luxury Apartments and Virtual office development will also provide opportunities for foreign academics and researchers who need convenient accommodation and office space for short stays of 2 to 3 months etc. The project will also meet our need to earn high revenues/profit What is the history of its activity and development (if any)? This concept of combined Serviced Apartments and Virtual Office was pioneered by Servcorp USA about 40 years ago. We plan to develop these Luxury Apartments & Virtual offices along with up market health club, 2 theme restaurants and top notch laundry services. The combined concept is relatively new in the Ugandan market. Only Regus offers virtual office facilities at Acacia Mall and has moved from a single branch to 3 branches in a space of 2 years. A virtual office is a workspace solution, including a physical mailing address that can be rented to support the establishment of your startup or small business at an affordable cost in a distinguished location or address. It offers a physical mailing address, a local phone number and receptionist. What channels do you sell through? We intend to sell and market our products through the following channels: ? Designing very attractive Brochures ? Our modern Luxury Apartment and Virtual office Profile ? Development of a dynamic website for online booking i.e online banners ? Hand bills ? Flyers ? Business Cards ? Key card jackets ? Bill Boards ? Printed Banners ? Guest Stationary
How should the idea/business earn money?
Our revenue models will be Transactional and Subscription for facilities according to the period of facilities usage. Transactional revenue model; Clients will be using our facilities on a daily/ weekly/ monthly basis and paying for our products and services on a daily, weekly or monthly basis. Subscription revenue model: will have rates more discounted to customers but the catch will be paying monthly or annually. In most cases the company recoups its investments faster as some of the customers prefer the assurance offered by subscription fees. The booking prices currently per room in the area is $250 -$300 per night. For virtual offices we shall make profit by charging competitive rates .For comparison purposes, take an example of Chicago address package goes for $179, Communication package $179 and Virtual office package $375- these are monthly costs Eilat Luxury Apartments & Virtual Offices will charge Address package-$100, Communication package at $100 and Virtual office package at $250. The key success factors for this Luxury Apartments & Virtual Offices project among others include: ? Unique and unrivalled a Grade A*** Location at Nakasero overlooking the Kampala Golf Course with great potential. ? Robust demand for luxury accusation and office space by our niche clients from the Embassies, Multinationals, and foreign academics. ? Development of Oil and Gas Industry, is big potential for the economy which shall drive the higher demand for our services and products. ? The experience of the directors and managers as key vision bearers and implementers that carries several years of experience in Real Estates Business, Hospitality and Financial industry. ? Transit of Minerals from Neighboring Countries in the West such as Democratic Republic of Congo , South Sudan creates good market ? Growing Leisure Market in the Country ? Business community coming in for Business Expos, ? Tourism potential from Local, Regional and International Visitors ? International investors seeking investment opportunities However, to accomplish our objective, we shall need a grace period of 18 months to allow for the construction of our hotel and other facilities
At what stage is the idea / business at the moment?
The business is still at the Start-up stage and will be owned and Managed by the Directors and/ or its contracted Specialized Real estate Firm such as Knight Frank. We welcome valued added information from a prospective Investor/Partner /Financier. Currently, we have sourced startup capital for the business from three major sources by; ? Generating part of the start ? up capital from personal savings ? Generating part of the start ? up capital (soft loan ) from friends and other extended family members ? We hope to Generate a larger chunk of the startup capital from Capital Venture/ Direct Equity Financing (loan facility) N.B: So far, we have been able to put together the following amount which has been spent in initial stages. ? $1715 has been injected in initial development of this project so far and below And other costs incurred in acquiring this prime land in Nakasero: ? Brokerage/ legal fees/communication/doing due diligence on the land property and its legal titles= $760 ? Company Registration/legal & bank fees/proposal writing $955 ? Deposit on Land in Nakasero - $ 310,000 ? Project design development - $ 150,000
What do you need?
We are seeking for a Joint Venture Partner and or Direct Equity Financing. We particularly welcome an Active / Silent investor who will have a big stake in the venture .
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