Project Scale Construction of building and outside infrastructure for the area of 2637.4 m2 Constructing a 25-storey block and 3 basement floors with a total construction area is 31,344
Trang 1OFFICE FOR LEASE, COMMERCIAL SERVICES AND RESIDENTIAL
BUILDING VP6
- Main office: Km No.10, Nguyen Trai Road, Thanh Xuan District, Hanoi City, Vietnam
- Tel: 04.33544667
- COMA 18 is an joint stock company with independent accounting shares under the General Engineering Construction Company (COMA) -The Ministry of Construction and be transformed into Construction Engineering JSC No 18 based
on Decision No 2102/QD-BXD issued by the Ministry of Construction On 23/12/2010, the company officially changed its name to COMA 18 JSC
2. Construction site: Linh Dam, Hoang Liet ward, Hoang Mai district, Hanoi
3. Project Scale Construction of building and outside infrastructure for the
area of 2637.4 m2 Constructing a 25-storey block and 3 basement floors with a total construction area is 31,344 m2
4. Total investment: 458,466,137,000 VND (in words: four hundred and
fifty-eight billion, four hundred and sixty-six million, one hundred and thirty seven thousand)
5. Capital investment: Own equity, capital form investors and loans
6. Forms of Project
Management:
Self- implementation by the project owner
7. Date for completion: 1st quarter 2014
II BRIEF INFORMATION ABOUT PROJECT
Trang 21 Project objective:
The project is designed to contribute to reduce pressure on very high housing demand, as follows :
Based on findings of Population & Housing Survey carried out on April 1, 2009 , each year Vietnam 's population increased by over 1 million people , while the average housing area of 18.6 m2 per person To keep the average area, 19 million square meters of housing should be created for each year
The demand for housing is still very large The average housing area per capita in Vietnam has just reached over 13 m2 According to the Decision of the Prime Minister, Vietnam, up to 2015, will meet the target of 15 - 20 m2/person in 2020
Vietnam currently has over 1 billion m2 of housing; Vietnam should have a total area of over 2 billion m2 house in 2020 It means that in 10 years we have to build about 1 billion m2 of housing It is average of 100 million m2 need to be build per year
It is expected that Hanoi has about 60,000 apartments will be completed in 2012, but according to statistics, Hanoi needs more than 110,000 apartments in this phase
By 2020 , Hanoi City need to have 450,000 apartments to meet the needs of the people
Due to the high population density and limited land for developing projects in the city center, the demand for apartments tend to move to the outside districts with good infrastructure such as: Hoang Mai, Tu Liem, Cau Giay and Tay Ho
Meet the needs of the general construction plan of Hanoi
Create landscape architecture contribute to Linh Dam area in Hoang Liet Ward, Hoang Mai district, Hanoi
Using and exploiting land effectively
Contributing to reduce housing demand , office and commercial center of the city
Addressing the housing needs for people in the city of Hanoi
Empowerment, brand improvement for COMA 18 Company in the field of real estate investment
2 Scope of Study
Trang 3 Investment in new construction and equipment installation for a 25-storey block and
3 basements
Technical connection of system building into the existing infrastructure around the building
The project is built in an area of 2637.4 m2, of which construction area for almost half the total area of 1,170 m2 with inherited prime location of new urban areas of Linh Dam, located in the south of Hanoi, 15km from the capital center The area have lake with 74ha, high green rate, an average of 13m2 water per person, the urban infrastructure system is synchronous Detail of the construction scope is presented in Table below:
4 Building stories
07 foundation floors, 03 basement and 02 engineering floors
3 Products and service provided:
Trang 4VP6 Linh Dam project with 25 floors and 3 basements
located in prime locations in urban Linh Dam area,
including the function of commercial services, office
rental and apartments, of which :
7-storey foundation from 1st floor to 5th
floor is the area is arranged for public and
commercial services
6th floor to 9th floor are the offices
From 10th – 25th floor are apartments,
including 138 luxuries furnished
apartments designed for the type of area
from 83.62 m2 to 194.56 m2 Each floor
has 6-9 apartments with system 3
high-speed elevators, high-end furniture
The basement has a floor area of 4,941 m2 building
4 Time and cost estimate
Cost estimate:
The project has a total cost of 405,085.27 million (excluding VAT) and 437,485.93 million
(inclusive of VAT), which includes plans for the project include: (1) construction costs; (2)
the cost of equipment, (3) PMU costs & other costs, (4) provision expense, (5) interest in
the construction loan Details about the costs presented in the table below:
Total project cost
Before Vat After Vat
2
27 1,095.24
2 Equipment Costs VND Excel 53,099.4 7 58,409.42
3 PMU & Other Costs VND Excel 65,764.1 3 68,209.82
4 Provision expense VND Excel 39,771.4 5 39,771.45
Trang 55 Interest in construction loans VND Excel 20,980.2 1 20,980.21
The total investment
VND
Not Excluding
construction interest 405,085.2 7 43 7,485.93 Excluding construction
interest 426,065.4 7 45 8,466.14
Duration of the project: The project is prepared to invest time and construction
from July 2011 - June 2014 (duration: 35 months)
III WORK BEAKDOWN STRUCTURE
Investment in construction projects include a lot of work, but the study only focuses and
summaries two main stages include: (1) preparation, and (2): the investment period
Phase 1: Preparation tasks
- Step 1: Prepare the browser application for approval
of premises and preliminary architectural plans
End of 9/2011
- Step 2: Preparation of investment projects
construction: including TKCS and project notes
to 4/10/2011
- Step 3: Evaluation of basis design End of month 15/10/2011
- Step 4: Evaluation of investment projects End of month 15/10/2011
- Step 5: Approval of project construction investment Last 10/2011
Phase 2 : Project implementation
- Step 6: Make a record of the construction drawing
design and cost estimate
End of 11/2011
- Step 7: Verification of the construction drawing
design and estimate
to 15/12/2011
- Step 8: Approval of the construction drawing design End of 12/2011
Trang 6and estimates
Works breakdown structure (WBS) is presented as following:
IV ESTIMATE ACTIVITIES
The financial targets of the project are presented in the table "financial analysis of the project."
Project VP6
Preparation tasks Project
implementation
Prepare the browser application for
approval of premises and
preliminary architectural plans.
Preparation of investment projects
construction: including TKCS and
project notes
Evaluation of basis design
Evaluation of investment
projects
Approval of project
construction investment
Make a record of the construction drawing design and cost estimate
Verification of the construction drawing design and estimate
Approval of the construction drawing design and estimates
Approval of the construction drawing design and estimates Construction
Trang 7Criteria Unit Value Note
With the discount rate =
20.0%
feasibility
Criteria Unit Value Notes
NPV million 35 907 > 0
IRR % 24.1%> 20.0%
Return period: Year 8
With the discount rate = 20.0%
Financial evaluation: the project is financially feasible.
V SCHEDULE, HUMAN RESOUCES AND BUDGET
1 Schedule
The schedule of the project: Due to limited framework of this article, we only offer items schedule overall nature without going more
A Construction project team:
PM
Project Leader
Project Accounting Department
Project engineering department
Parts Supply Chain Management ( Procurement )
Trang 8 Project Secretary.
B Construction schedule
- Manicure 1.1:
piles
Construction of basement foundation
- 1.2 Construction of ground floor
Pour concrete frame ground
Raw Ground
- 1.3 Construction of 1st floor
Pour concrete floor frame
1st floor
- 1.4 Construction of 2nd floor
2 storey concrete frame
raw Building 2nd floor
- 1.5 Construction of 3rd floor
3 storey concrete frame
Building 3rd floor
C Equipment installation:
Installation of electrical system
Installing water supply systems
Installed drainage system
Installation of sanitary equipment
Door Installation
Installation of the machinery
D Complete works
Tiles
Paint
Trang 9 Attach
Kitchen Cabinets
Other Work
E Handing work
Hygiene
Delivering
F End of project:
Identify the work is done in accordance with the requirements
Check Actually Works
Project legal documents
Checking the quality of the records
Disposals procurement contracts and tenders
Settlement contracts
Records disposal contracts
Report overall project completion
Approval of the investor
Organization of test council
Test records
Handing over of works
Transfer Products
Hand over the records of the
Handover
Meetings of the overall draw lessons
Dissolution
Construction equipment
Organize farewell party
Virgin human
Trang 102 Preparation of HR:
The specialized components of the project based on the original scale of the project, total investment, and project progress to plan:
Human: suitable for professional competence, sufficient in quantity and quality
Materials: Construction and shall sign the contract with the supplier to make supply chain to ensure the safety and quality of the materials needed for the project, with the note contingency plans for the bad amalgams of market volatility
The equipment and construction machines ensure enough quality to work well for construction work
Finance: Arranging roughly the capital to ensure financial resources are meeting the requirements of the project
3 Budget:
Fixed capital investment.
*) The total investment of the project (including interest during construction) is: 458
465 million
*) The credit terms are included in the economic analysis calculated for the
following projects:
+ Capital of investors: 15.02%
+ Customer capital raising (selling apartments): 63.76%
+ Loans of commercial banks are: 21.22%, estimated interest rate of 20% / year Detailed capital structure is presented below:
Total
100.00% 458,466,137,000
Trang 11The project includes the following costs:
Personnel costs
Direct Costs
Indirect Costs
Incremental Costs
Determine the time the costs are incurred
Provision expense
Prepare detailed budgets for each of the above
Unit: million
Total cost
up to year
0 year
>7/2011 2012 2013 >6/2014
I Investment cost: 6,576.41 115,273.91 173,481.23 109,753.72 405,085.27
Construction
costs
246,450 86,257.58 123,225.11 36,967.53 246,450.22 Equipment Costs
53,099 5,309.95 26,549.73 21,239.79 53,099.47 PMU & Other
Costs
65,764 6,576.41 19,729.24 19,729.24 19,729.24 65,764.13 Provision
expense
39,771 3,977.14 3,977.14 31,817.16 39,771.45
II
The ability to
raise capital:
6,576.41 115,273.91 173,481.23 109,753.72 405,085.27
II.1 Own capital 15.02% 6,576.41 23,054.78 31,226.62 60,857.82
II.2
Capital Bank
Borrowing
21.22% 27,650.53 45,401.71 12,900.82 85,953.05 II.3 Capital mobilized 63.76% 64,568.60 96,852.90 96,852.90 258,274.40
Trang 12from customers
Balance (II)-(I)
>=0
III
Debt and Interest
during
Construction
III.1
Principal
investor Loan for
Construction
27,650.53 45,401.71 12,900.82 85,953.05
III.2
Paying interest
loans
(self-balancing
payment source)
20,980.21 Total to first
period
27,650.53 75,817.29 94,269.87 Arising during
the year
2,765.05 8,316.82 9,898.34 Interest
payment period
before
2,765.05 8,316.82 Left at end of
period
30,415.58 81,369.05 95,851.39
Total payable
outstanding
loans and
The cost of the project include :
Cost of building management and operation: (includes salary, annual
insurance costs , utility costs ) : Estimated range 42.000d ( $ 2 ) / m2 per year
Expenses Depreciation and amortization
Trang 13The value of depreciated assets includes all costs to create assets that are accounted for by separate groups of assets Depreciation according to Circular dated 20/10/2009 203/2009/TT-BTC Depreciation and amortization
of the Minister of Finance
The characteristics of this project are a mixture of office, commercial and apartment should only amortize to the office area and the commercial floor apartment
Identify the depreciation period for each type of asset
According to Appendix 01 " The time frame used for fixed assets " issued Circular
No 203/2009/TT-BTC Depreciation and amortization on 20/10/2009 by the Minister of Finance , determine the time fixed assets used for the following projects:
No Types of fixed assets Time for use Time for project
3 The deduction gradually (clearance,
other expense, provision expense,
interest building )
Planning depreciation of fixed assets
Pursuant to Article 13 of the Regulation on management, use and depreciation of fixed assets issued under Circular No 203/2009/TT-BTC, choose the method of depreciation for office building project, commercial and residential apartments VP6 Linh Dam: straight-line depreciation method
General expenses , administrative costs , marketing , sales equal to 1 % of turnover
Cost of repair and maintenance works: Estimated 150,000 VND / m2 per year / (area public office + commercial)
Interest payment in operation
The taxes in accordance with the project 's current state , including:
Trang 14VAT : 10 % of sales Corporate Income Tax : 25 % of taxable profits Based on the total investment, based on the progress and schedule of the project’s accounting department will project planning how to budget initiative, the most appropriate and effective to serve up the requirements of each project phase The budget plan will be approved by the investor and the investor to understand the disbursement for the project to avoid delays affects the project implementation Finally, when you have the schedule, resources and budget plans clear, essential and important time management is the ability to run as well as the actual implementation
of the project, how to achieve all of the project objectives outlined This is a very carefully the possibility of project management, due diligence with serious mental attitude of all the members of the project management department to direct the construction
VI CONCLUSION: The economic efficiency of the project finance
Leasing Office : 3.092m2
Commercial rental : 4.681m2
Looks basement parking : 35 cars , 345 motorcycles
Service fee apartments : 138 apartments
Apartments: 138 apartments
ECONOMIC EFFICIENCY
During operations, the project will contribute to the state budget the following amounts:
Value Added Tax :1,439 billion
Corporate income tax: 3,483 billion
EFFECTIVE SOCIAL PROJECTS
• Meet the requirements for infrastructure, housing, apartments for People Capital and the accompanying public utilities in the immediate future and in the future
• Promoting economic efficiency and the advantages Linh Dam
• Create jobs and incomes for workers