تقرير تثمين.docx

Valuation methodology of non - use in the first and upper floor: Through the scope of our real estate business and dealing with the process of valuation on a daily basis, we put the stages of the construction of a house consisting of a first floor (bear two floors) according to what is customary locally: m 1 2 3 4 5 6 7 8 9 10 11

12

To describe the stage Upon completion of setting the rules Upon completion of the foundation works Upon completion of the beam work and**** the first floor Upon completion of the bricks works of the first floor Upon completion of the casting of the slab on grade Upon completion of the roof works Upon completion of ***** Upon completion of the inside plastering works Upon completion of Ceramic of bathrooms and kitchens Upon completion of the outside plastering works Upon completion of Electrical installations and waterproof for bathrooms and kitchen Upon completion of all slabs on grade

13 14 15

16 17 18

Upon completion of primer and putty works Upon Installing the doors and windows Upon completion of Installation of sanitary materials and electrical lights Upon completion of Sewage works Upon completion of Dyeing and cleaning operational works of home and trial period

These stages are deemed known when building a one-floor house that can bear additional first and upper floor upon which a percentage shall be considered for each stage of the total percentage of building a one-floor house(100%). The Percentages set out in the table are recognized percentage and are divided by the size of each stage and the extent of their consumption of building materials.we took into account that the period of time to completion of each stage, and It is considered in terms of approach a smooth and scientific way from the practical aspect of the valuation process cause It is based on concrete stages. Percentage of the contribution of each stage in the total percentage of construction: In this stage we talk about the contribution of each percentage in each stage to outreach for the final stage to build a first floor Prepared for the building of the first and upper floor.

m 1 2 3 4 5 6 7 8 9 10 11

12 13 14 15

Description of the stage Upon completion of setting the rules Upon completion of the foundation works Upon completion of the beam work and**** the first floor Upon completion of the bricks works of the first floor Upon completion of the casting of the slab on grade Upon completion of the roof works Upon completion of ***** Upon completion of the inside plastering works Upon completion of Ceramic of bathrooms and kitchens Upon completion of the outside plastering works Upon completion of Electrical installations and waterproof for bathrooms and kitchen Upon completion of all slabs on grade Upon completion of primer and putty works Upon Installing the doors and windows Upon completion of Installation of sanitary materials and electrical lights

Percentage% 13 2.5 2.5 12 10 7 3 8 3 5 4

5 5 5 5

16 17 18

Upon completion of Sewage works Upon completion of Dyeing and cleaning operational works of home and trial period

2 5 3

The table motioned above is an essential element in the valuation process because it contains all data related to the construction in its normal state and without talking about the imbalance that has occurred which different in our reality from slight to moderate to heavy damage. ********* The subject of non-use is a comprehensive term and reaches in the most range to demolition and reconstruction. We will give the next example to understand the subject clearly: Example: A person rented a shop from a second person, opened a supermarket, and did everything necessary to operate it by purchasing the objects and establishing the supermarket. However, during the use, he discovered that the shop was not suitable for exploitation, while he used it, then what shall the compensation include?  The compensation shall include the value of losing from daily sales.  The transferring cost of purposes to another shop.  Refund of rent.

 The fees relating to the shop opining. Usually, the usufruct comes in full, especially if the damage is in the initial and fundamental stages. General Note: In the field of construction, there are slight damages and other heavy, the slight in no way does not affect the beyond such as paint, doors and windows because they are called damage specified. There are damages that have consequences and effects of what is coming and is called moving and movable damage, which gradually move to the element that follows and adversely affect the operation of the element's operation or may lose part of it.

This project is considered integrated and therefore any part of it is considered essential for us in the process of valuation. The ground floor is similar to a human foot which carrying a mass of its body and making him stand up and any disorder that will make this body unable to move and the damage shall move into the rest of the body. Classification of stages: Through the foregoing, the table will be referenced and the classification of the stages to basic and secondary to determine the accuracy of the utilization criteria.

m 1 2 3 4 5 6 7 8 9 10 11

12 13 14

Description of the stage Upon completion of setting the rules Upon completion of the foundation works Upon completion of the beam work and**** the first floor Upon completion of the bricks works of the first floor Upon completion of the casting of the slab on grade Upon completion of the roof works Upon completion of ***** Upon completion of the inside plastering works Upon completion of Ceramic of bathrooms and kitchens Upon completion of the outside plastering works Upon completion of Electrical installations and waterproof for bathrooms and kitchen Upon completion of all slabs on grade Upon completion of primer and putty works Upon Installing the doors and windows

Classification basic basic basic basic basic basic basic secondary secondary secondary secondary

secondary secondary secondary

15

16 17 18

Upon completion of Installation of sanitary materials and electrical lights Upon completion of Sewage works Upon completion of Dyeing and cleaning operational works of home and trial period

secondary

basic secondary basic and secondary

This classification is considered necessary during the evaluation's stage because if it is a defect occurs to the basic work, it can not talk about a ***, but the secondary is a simple thing can be modified at any moment like the works of paint , lighting and plastering unlike the basic stages that are the main incubator of the house and are important elements of accomplish it. It is obvious that if the defect on the basic work, this defect it is not only limited to it but also will affect and reflect on the rest of the stages like columns and bridges and up to the walls and ceiling. The program evaluation process:

The whole process of valuation is an estimate of point of view. The most appropriate method is chosen, which we see close to reality by a very large percentage. Therefore, our reliance on the percentage of contribution of each stage is the closest to the reality because it did not come out of what exists because of the factors available and which are consistently available:  ****  There is a contract between the parties.

 The agreement includes building a ground floor only and the ground floor shall bear another floors.  The ground floor is existed on the ground.  The Atkins office report, which referred to design flaws, would prevent adding the rest of the floors.  The same stages mentioned above are the same as the stages of building in this site, even if the method is different, there are many things that are universal and regardless of what was used materials and methods of casting and construction, which is not our specialty to address.  Mostly, valuations are based on clear principles, and this what we have come up with through the contract.  There is also an explanation of the value of housing construction and an explanation of the value of the change order no (1). The ground floor is the basic building block for the construction of the first floor and the upper and any damage *** either in design or completion as required will result in the denial of several services was supposed to benefit the first floor and the upper. 1/Calculation of wastage percentage: Since the foundations and rules that carry the house as a whole is a key element to build the ground floor .foundations considered the main support for the construction of the first floor and the upper, such foundations have a geometrical importance in building the house, it will affect the rest of the other stages, which led to the exclusion of the addition of the rest of the other floors.

If these foundations were existed, the first floor and the upper would be established. What are the missing stages that had led to the lack of building of the rest of the floors? 1. foundations 2. Columns 3. *** 4. Supply of electricity and sewage. These points and the argument on which we are based will be explained.  The foundations are a cornerstone in the construction of the first floor and the upper and any weakness in the design or completion of these rules will result in the lack of use of these floors and will affect the next floors.  The ceiling is the last stage to building the first and upper floor because it contains the head of the lower pillars, ***, When building the floors and through visual inspection, none were found. If the roof is the key to pass the ground floor services and the first floor is lacking, it is considered a means to activate the right of non-utilization. ****** At our discretion, the rest of the stages have been excluded because they contribute significantly to the operation of the ground floor. The staircase room is located on the ground floor and therefore it remains hostage to what the owners of the houses

are decide. However, whatever the amendment, it will remain in its place. Now we will refer to the table of percentages and collect them together (the shaded in a different color) to extract the value of the loss:

m 1 2 3 4 5 6 7 8 9 10 11

12

Description of the stage Upon completion of setting the rules Upon completion of the foundation works Upon completion of the beam work and**** the first floor Upon completion of the bricks works of the first floor Upon completion of the casting of the slab on grade Upon completion of the roof works Upon completion of ***** Upon completion of the inside plastering works Upon completion of Ceramic of bathrooms and kitchens Upon completion of the outside plastering works Upon completion of Electrical installations and waterproof for bathrooms and kitchen Upon completion of all slabs on grade

Percentage% 13 2.5 2.5 12 10 (3%)7 3 8 3 5 4

5

13 14 15

16 17 18

Upon completion of primer and putty works Upon Installing the doors and windows Upon completion of Installation of sanitary materials and electrical lights Upon completion of Sewage works Upon completion of Dyeing and cleaning operational works of home and trial period

5 5 5

2 5 3

Note: The ceiling ratio was estimated at 7%, but for several considerations it will be reduced for the following reasons: ******* When combining the following stages: 1+2+3+6+16 We will get a percentage 23%the percentage lost in one home. This percentage is estimated and we did not consider any geometric input or whatever. This means that this percentage may be higher or lower according to the results after the detailed examination. Moreover, we failed to obtain any geometric study indicating that during the valuation process. 2/ Finding out the lost value of the single house: 2/Before the change order No: Throughout the aforementioned, the value of the single house before the change order is RO 60,886(Sixty thousand eight hundred and eighty-six RO( The value of the non-utilization of the first and upper floor before the change order:

Commented [U1]: Ashraf

60,886 ×23 % = 14,003 (fourteen thousand and three RO)

The final value of the compensation for the non-utilization of the first and upper floor of the entire project: (before the change order No: 1) 14,003 ×2191 = 30,680,573 (thirty million six hundred and eighty thousand five hundred seventy three RO) 2/After the change order No2: Throughout the aforementioned, the value of the single house after the change order is RO 80,489 (eighty thousand four hundred and eighty nine RO) The value of the non-utilization of the first and upper floor within the single house after the change order No 1: 80,489 ×23 % =18,512 eighteen thousand five hundred and twelve RO)

Signed and stamped by Valuation Department

The final value of the compensation for the non-utilization of the first and second floor of the entire project: (after the change order No: 1) 18,512 ×2191 =40,559,792 (forty million five hundred fifty-nine thousand seven hundred ninety-two RO). Throughout all the aforementioned, the value of the average between the two values before and after the change order can be calculated. The estimated amount is: 35,000,000 thirty-five million RO-/ Signed and stamped by Valuation Department

The evaluation summary:

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This value is estimated . In our point of view, it is more likely to be real because we speak about an overall concept of the valuation, not an unrelated element, but a self-standing project. The listed amount for loosing, which related to one house, is a collector of the right of non-utilization and can be expanded in the future to include new variables, which is the climatic factor which can play an influential role in the operation process. There is a rule used by the real estate appraiser, which is the higher the proportion of the future risk is, the higher the value of compensation is even it is estimated and the lower the proportion of future risk is , the lower the value is. ********is the result of what we have seen, the information we have gathered and the documents and contracts entered between the parties we have obtained. The absence of some details, which are accurate and the most important thereof determining the defect geometrically and the mechanisms adopted for fixing and methods of their application in practice and the extent of its conformity with what is existed, is very important. The absence of guidance reports by the parties is in itself a missing element at which we must stop, especially determining the depreciation rate that is considered a key to consider the project throughout the evaluation angle. The evaluation stems from phases followed in an ongoing and coherent manner to reach something’s value. Signed and stamped by Valuation Department