Business
Q1 2013 NAV and Trading Update
Q1 2013 NAV and Trading Update.
About this update from Dci Advisors Limited
[{"type":"text","content":"\n \nRNS Number : 8228G Dolphin Capital Investors Limited 12 June 2013 \n \n\n12 June 2013\n \nDOLPHIN CAPITAL INVESTORS LIMITED \n(\"DCI\" or \"Dolphin\" or the \"Company\" \nand together with its subsidiaries the \"Group\")\n \nQ1 2013 NAV Announcement and Trading Update\n \nDolphin, a leading global investor in the residential resort sector in emerging markets and one of the largest real estate companies on AIM in terms of net assets, is pleased to provide an update on operational progress and announce its unaudited Net Asset Value (\"NAV\") as at 31 March 2013.\n \nOperating Highlights since the last Trading Update of 20 March 2013: \n \nADVANCED PROJECTS:\n· The Porto Heli Collection (www.portohelicollection.com), Greece\nAmanzoe (www.amanzoe.com) \n- Reviews for Amanzoe Resort continue to be exceptional and the hotel's financial performance in 2013 (the first full year of operations) is in line with its budget and is expected to result in a positive net operating income (before depreciation and debt service). \n- Two Aman villas were completed during the period and will be added to the Amanzoe rental programme by the end of June. Construction works on three additional Aman villas are progressing while three more are in the design stage by Ed Tuttle, in consultation with the villa owners, with the intention of commencing works on site by Q3 2013. A number of additional villa lots are currently under negotiation with prospective buyers.\n \nThe Nikki Beach Resort & Spa at Porto Heli \n- Construction works are progressing on site with the reinforcement works of the existing structure. It is anticipated that the mock-up room will be ready for review at the end of summer 2013.\n \n· Playa Grande Club & Reserve (\"Playa Grande\" - www.playagrande.com), Dominican Republic\n- The project has executed final and binding debt facility agreements with a syndicate of three regional banks for the entire targeted US$19 million debt funding, to finance the construction of the Aman Hotel. This facility is the first loan in the Dominican Republic provided to a luxury resort development since the financial crisis of 2008, underlining the reputation of Dolphin as a financial sponsor...