Dxb13-017-P-077 - DNIC, Cost Report No.41 PDF

AL HABTOOR CITY –
RESIDENCES
SHEIKH ZAYED ROAD,
DUBAI, U.A.E.
COST REPORT NO. 41

(AUGUST 2017)
EMPLOYER:
DUBAI NATIONAL INVESTMENT CO. LLC

P.O. BOX 25444
DUBAI, UAE
05th September 2017 Rev.00

AL HABTOOR CITY - RESIDENCES
5-Sep-17
COST REPORT - 41
Contents
1 Executive Summary 2-4
2 Flash Summary 5-6
3 Project Contingency Expenditure 7
4 Notes and Exclusions 8
Package A Piling and Enabling Works 9

A1 Contract Particulars 10
A2 Cost Breakdown 11-12
AA Agreed Variation Order (VO) 13
AB Approved Claims 13
AC Approved Value Engineering 13
AD Approved PVOs 14
AE Pending PVOs 14
AF Pending Claims 14
AG Pending Value Engineering 15
AH Early Warnings 15
AI Remeasurement Adjustments 15
AJ Certification & Payment Status 16
AK Cash flow Forecast 17
AL Cash flow Forecast (Graph) 18
AA1 Provisional Sum Schedule 19
AA2 Change Management Log 20
Package B Main Works 21

B1 Contract Particulars 22
B2 Cost Breakdown 23-25
BA Agreed Variation Order (VO) 26-27
BB Approved Claims 28
BC Approved Value Engineering 29
BD Approved PVOs 30
BE Pending PVOs 31
BF Pending Claims 32
BG Pending Value Engineering 33
BH Early Warnings 34
BJ Certification & Payment Status 35-36
BK Cash flow Forecast 37
BL Cash flow Forecast (Graph) 38
BA1 Provisional Sum Schedule 39
BA2 Change Management Log 40-41
C Client's Direct Purchase 42

CA Client's Direct Purchase log 43
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COST REPORT - 41
1.0 Executive Summary
1.1 Current Position
This report provides a summary of the current financial information in respect of Al Habtoor City Residential Development project, a luxury
residential development of 1427 No. one, two, three and four bedroom apartments and 12 No. penthouses, contained within 2 No.73 storey and 1
No. 52 storey towers, also incorporating podium, car parking, retail units and amenities situated adjacent to Sheikh Zayed Road, Dubai, United
Arab Emirates for M/s Dubai National Investment Co. LLC for the period ending 31 August 2017.
All figures contained within the report unless otherwise stated are in AED (Dirham's).
The total committed and anticipated final cost summary is as follows:-
Budget Amount Current Report Variance Remarks
Committed Costs
(Include Accepted Contract Amount, VOs,
approved Claims, approved VE &
remeasurement adjustments)
A Piling & Enabling Works 88,815,657.00 86,167,342.12 (2,648,314.88) Refer to page No.11 for details
B Main Works 1,450,000,000.00 1,512,050,650.00 62,050,650.00 Refer to page No.23 for details
C Client's Direct Purchases 58,944,536.06 58,944,536.06 Refer to page No.43 for details
Sub-total Committed Cost (CC) 1,538,815,657.00 1,657,162,528.18 118,346,871.18
Uncommitted Costs
(Include approved PVOs, Pending PVOs,
pending Claims, pending VE & Early
Warning)
A Piling & Enabling Works - - - Refer to page No.11 for details

B Main Works - 29,953,196.55 29,953,196.55 Refer to page No.23 for details
Sub-total Uncommitted Cost (UC) - 29,953,196.55 29,953,196.55
Total Anticipated Final Cost (CC + UC) 1,538,815,657.00 1,687,115,724.73 148,300,067.73
1.2 Current Movement in the Period
Previous Report Current Report Variance Remarks
Committed Costs
(Include Accepted Contract Amount, VOs,
approved Claims, approved VE &
remeasurement adjustments)
A Piling & Enabling Works 86,167,342.12 86,167,342.12 - Refer to page No.12 for details
B Main Works 1,509,370,783.23 1,512,050,650.00 2,679,866.77 Refer to page No.24 for details
C Client's Direct Purchases 58,944,536.06 58,944,536.06 - Refer to page No.43 for details
Uncommitted Costs
(Include approved PVOs, Pending PVOs,
pending Claims, pending VE & Early
Warning)
A Piling & Enabling Works - - - Refer to page No.12 for details

B Main Works 32,633,063.32 29,953,196.55 (2,679,866.77) Refer to page No.24 for details
Sub-total Uncommitted Cost (UC) 32,633,063.32 29,953,196.55 (2,679,866.77)
Total Anticipated Final Cost (CC + UC) 1,687,115,724.73 1,687,115,724.73 -
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1.0 Executive Summary (cont'd)
Overview - Piling & Enabling Works
Piling and Enabling work was awarded to Al Habtoor STFA Soil Group LLC and Accepted Contract Amount is AED 88,815,657. The Contract
Commencement Date was 09 December 2013 and original Completion Date was 21 June 2014 with a Time for Completion of 195 days. Scope of
work includes shoring piles, main piles, excavation and dewatering.
The Engineer has recommended 172 days as extension of Time for Completion without prolongation cost deriving to revised Completion Date as
10 December 2014.
Balance 5% Retention Money has been released against security cheque as per the Client's advice.
Variation status
All Variations i.e. VO No. 01 - Change of the Shoring Pile Support System from Internal Supports to Anchors and VO No. 02 - Deletion of Pile
Head Cutting Work have been approved by the Client.
Overview - Main Works
Main work was awarded to Al Habtoor Leighton Group and Accepted Contract Amount is AED 1,450,000,000. The Contract Commencement
Date is 01 July 2014 with a Time for Completion of 32 months. Contractual Completion date is 28 February 2017.
Scope of work include construction of 3 Residential Towers connected with 6 floors of podium including car park & retail. Tower 1 & 2 -1B + G +
5P + 68 and Tower 3 - 1B + G + 5P + 47 with a total built up area of 390,879m2.
Cumulative value of work done is approximately 932.45 million which is 60.5% of the anticipated contract amount. Original time for completion i.e.
32 months has already been lapsed. The Contractor has not submitted any extension of Time for Completion and/or additional cost claim pursuant
to terms and conditions of Contract for the Engineer's review.
Provisional Sum and Prime Cost (PC) Rates
Landscaping is the only provisional sum included in the Contract. M/s Gulf Landscape has been nominated as the nominated subcontractor.
Nominated Subcontract Price is AED 36,000,000.00. PC rates related to level 6 hard landscaping was approved by the Client on 12 February
2017.
Variation status
- VO No. 01-11, 13-15,17-29 and 31 have been approved by the Client.
- Pending approval of VO No. 12, 30, 32 and 33 by the Client.
Early Warnings
Following are noted.
- Cost saving due to reduction of the built up area in Tower 1 & 2
- Parking Management System
- Cost saving for reduction in floor height in Tower 1,2 & 3 due to BMU arrangement
- Cementitious waterproofing coating behind façade instead of bitumin waterproofing
- Floor drain provision for water heater rooms
- Changes in water services (comparison between IFC and Contract drawings)
- Door architrave, shaft door omission and fire rating upgrade
- Finishing and light fitting in deleted landscape area - Level 4 (E.I No. 05)
- Deletion of background music system
- Deletion of Etisalat system
- HLG Overhead & Profit, Attendance and Builders Work for Kitchen Appliances
- HLG Overhead & Profit, Attendance and Builders Work for Shower Glass Partition
- Cost saving due to changes in Floor and wall finishes in Lift lobby areas
- HLG overhead & profit and attendance for tennis court direct POs issued by the Employer (dumb waiters, external & internal work by
Ramond Sport, kitchen appliances and LPG gas system)
- Relocation of floor drain pipe in tower 2 LV room
- Changes in light fitting (comparison between IFC and Contract Drawings)
- Changes in drainage services (comparison between IFC and Contract drawings
- Changes in HVAC and electrical services (comparison between IFC and Contract Drawings)
- Waive of FSC (Forestry Stewardship Council) accreditation for the sources of the Timber
- Omission of stainless steel doors for fire hose real cabinets
- Deletion of concrete wall plastering inside the apartments and podium areas
- Change of shaft wall from dry wall partition STC60+ to block wall
- Change in acoustic ratings for kitchen wall (from STC 55 to 45) and toilet walls (from STC 50 to 45) in apartments
- HLG overhead & profit and attendance for Water features construction at Towers ground floor main lobbies
- Plumbing and drainage requirement for entrance lobby water feature at Tower-1, 2 and 3
- Changes in window at L51 of Tower 3 and Level 71 in Tower 1 and 2
- Removing Frame and Glass and adding door at podium level 2
- Roof steel feature, sky lounge and sky light
- Busbar change in rating due to load increase & rerouting
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1.0 Executive Summary (cont'd)

Overview - Main Works (Cont'd)
Early Warnings (Cont'd)
Following are noted (Cont'd).
- Changes for Power Cables and Switchgear.
- Change in DEWA Main Water Supply Line as per DEWA NOC – 8061801 (EI No. 07)
- Change to Lift Lobby Finishes at Penthouse levels (EI No. 08)
- Revised LPG system in retail area
- Change of signage panel to façade vision glass panel at Retail No. 18 (EI No. 09)
- Retail No. 19 - MEP modification as per Tenant's requirements (EI No. 10)
- Re-routing of HVAC duct in LV rooms
- Modification of Apartment No. 6502 and 6503 at Tower 2 as per the Client's instruction (EI No. 11)
- All Towers - Provisions in Penthouses as per Client Instruction (EI No. 12)
- Air Conditioning Required for Podium Lift Shafts for Lifts - P1, P2, P3, P4, GS2, RS2 (EI No. 13)
- Basement 1 - New IDF Room Requirement (EI No. 14)
Critical Issues
• Slow progress of the work - Even though original time for completion already lapsed by 6 months, cumulative work done is approximately
932.45 million which is only 60.5% of the anticipated contract value.
• AED 335.71 million yet to be recovered as advance payments, LC and direct payments which is 64.8% of the work done to be certified (Please
refer to below tabulation for details) .
• Possibilities of negative payment certificates to HLG due to above recoveries.

Financial Position of the Employer
Certified (As per PC No.49

- July 17)
Recovered
Amount (As per Balance to Balance to
Amount Amount As a %
PC No. 49 - July Certify Recover
17)
Accepted Contract Amount 1,450,000,000.00 857,314,078.29 59.13% 592,685,921.71
Approved Variations 56,948,198.61 52,173,085.88 91.61% 4,775,112.73
Variations under signature 5,102,451.39 566,862.25 11.11% 4,535,589.14
Provisional Sum (PS) adjustment 21,860,000.00 1,394,488.78 6.38% 20,465,511.22
Prime Cost (PC) Rate adjustment (986,045.60) - 0.00% (986,045.60)
Sub Total 1 1,532,924,604.40 911,448,515.20 59.46% 621,476,089.20
Material on site 45,828,972.74 (45,828,972.74)
Material off site 24,549,956.87 (24,549,956.87)
Sub Total 2 1,532,924,604.40 981,827,444.81 64.05% 551,097,159.59
Ddt - Retention (5 % for HLG & 10% for
(78,402,792.09) (45,633,856.99) 58.20% (32,768,935.10)
Landscape PS)
TOTAL AMOUNT AFTER RETENTION 1,454,521,812.31 936,193,587.82 64.36% 518,328,224.49
Advance Payments (AP) - HLG 195,000,000.00 119,498,692.34 (75,501,307.66)

Advance Payments - HLG Subcontractors 73,030,939.58 48,013,015.35 (25,017,924.23)
Direct Payments (Based on the information available with NEA) 231,555,772.44 110,611,576.60 (120,944,195.84)
LC opened (Based on the information available with NEA) 371,818,853.11 259,488,815.63 (112,330,037.48)
LC charges (Based on the information available with NEA) 1,635,392.82 1,635,392.82 -
On account payment to HLG - July 2017 5,000,000.00 5,000,000.00 -
Other deduction (Engineers' OT and other payment) 7,824,386.83 5,204,856.33 (2,619,530.50)
TOTAL AP, DIRECT PAYMENTS, LC & OTHER PAYMENTS 885,865,344.78 549,452,349.07 (336,412,995.71)
Balance Amount to be certified to HLG after recovering outstanding AP, Direct Payments, LC & Other
181,915,228.78
Payments
Note:
1. Above LC opened amount represents total amount of the LC opened by the Client. Based on the material delivery, LC amount will be utilised.
2. Other deduction includes the Client LC facilitation charges from Jan 16 to Dec 17 , District Cooling demand charge from March 17 to Dec 17, M/s
Atkins' overtime and any other payment made by the Client on be half of HLG for authorities, temporary works and M/s Newtech Pools for penthouses
swimming pools.
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2.0 Flash Summary
CHANGE MANAGEMENT NO. ENTRIES
PILING & ENABLING PACKAGE MAIN WORKS

PSums Variations Total PSums Variations Total
Committed
Approved VOs - 2 2 - 28 28
VOs under signature - 5 5
Approved Claims - 1 1 - - -
Approved Value Engineering - - - - - -
Uncommitted
Approved PVOs - - - - 4 4
Pending PVOs - - - - - -
Pending Claims - - - - - -
Pending Value Engineering - - - - - -
Early Warning - - - - 40 40
PAYMENT CERTIFIED - MAIN WORKS
Gross Value of Work done as of 31 July 2017 (A) 911,448,515.20
Certified Payments (Based on Payment Certificate No. 49 - July 2017)

1. Advance Payments to HLG and Subcontractors 268,030,939.58
2. Work Done 386,741,238.75
3. LC Payment made 261,124,208.45
4. Direct Payments to HLG Subcontractors and Suppliers 231,555,772.44
5. Payment On Account to HLG - July 2017 5,000,000.00
Total Certified Payments (B) 1,152,452,159.22
Difference between Certified and Gross Value of Work Done (B-A) 241,003,644.02
Reasons for Difference between Certified and Gross Value of Work Done
Material on site and off site 70,378,929.61
Retention (45,633,856.99)
Advance Payment to be Recovered 100,519,231.89
Direct Payments to be Recovered 120,944,195.84
Other deduction and Engineer's Overtime (5,204,856.33)
On account payment to be recovered
Total differed Amount 241,003,644.02
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2.0 Flash Summary (Cont'd)
CASHFLOW (FORECAST/ACTUAL) - MAIN WORKS
(Refer to Page No.37 for details)
160 1,600
140 1,400
Cumulative Value (Secondary Axis)- Millions

120 1,200
Monthly Value (Primary Axis) - Millions
100 1,000
80 800
60 600
40 400
20 200
0 0
Months
Forecast Net Payment Actual Net Payment Forecast Net Cumulative Actual Net Cumulative
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3.0 Project Contingency Expenditure
To be advised by the Client.
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4.0 Notes & Exclusions
4.1 Notes
4.1.1 The following abbreviations are used within this report:
AFC - Anticipated Final Cost

PSum - Provisional Sum
PVO- Provisional Variation Order
VO - Agreed Variation Order
TBA - To be Advised
VE - Value Engineering
4.2 Exclusions
4.2.1 Design team professional fees
4.2.2 Other consultant professional fees
4.2.3 Other direct Client appointments
4.2.4 Land cost
4.2.5 Marketing cost
4.2.6 Client direct purchases which are not listed in the report (only information available with NEA are highlighted in this report)
4.2.7 Client finance costs
4.2.8 Client general overhead costs
4.2.9 Authority fees
4.2.10 Interior and relevant MEP works of Penthouses
4.2.11 Other project related costs not highlighted above
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COST REPORT - 41
Package A - Piling & Enabling Works
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COST REPORT - 41 Package A - Piling & Enabling Works
A1 Contract Particulars
Client: Dubai National Investment Co. LLC

P.O. Box 25444
Dubai
United Arab Emirates
Engineer: WS Atkins & Partners Overseas

P.O. Box 5620
Dubai
Contractor: Al Habtoor STFA Soil Group LLC

PO Box 50774
Dubai
Type of Contract: Re-measured
Accepted Contract Amount: 88,815,657.00 AED
Contract Price 86,167,342.12 AED
Commencement Date: 9-Dec-13
Time for Completion: 195 days
Completion Date: 21-Jun-14
Revised Completion Date: 10-Dec-14
Actual Completion Date: 10-Dec-14
Extension of Time for Completion: The Engineer has recommended 172 day as EOT
without prolongation cost
Advance Payment Amount: 17,763,131.40 AED
Corporate Guarantee for Advance Payment Expiry: Valid until recovery of Advance Payment
Corporate Guarantee for Performance: Valid till 22 June 15; HSSG to renew
Contractor's All Risk Insurance Policy Expiry: 10 Dec 2014+Defects Notification Period
Workman's Compensation Insurance Expiry: 31-Jan-15
Plant & Machinery Insurance Expiry: 31-Jan-15
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A2 Cost Breakdown
A2.1 Accepted Contract Amount vs. Current Cost Report
Accepted Contract
Current Report Variance
Amount
Committed Costs
A2.1.1 Contract Price 88,815,657.00 88,815,657.00 -
A2.1.2 VOs (Appendix A) - (1,770,197.83) (1,770,197.83)

- PSums - - -
- Variations - (1,770,197.83) (1,770,197.83)
A2.1.3 Approved Claims (Appendix B) - - -
A2.1.4 Approved Value Engineering (Appendix C) - - -
A2.1.10 Remeasurement Adjustments (Appendix I) - (878,117.05) (878,117.05)
Sub-total Committed Cost (CC) 88,815,657.00 86,167,342.12 (2,648,314.88)
Uncommitted Costs
A2.1.5 Approved PVOs (Appendix D) - - -

- PSums - - -
- Variations - - -
A2.1.6 Pending PVOs (Appendix E) - - -

- PSums - - -
- Variations - - -
A2.1.7 Pending Claims (Appendix F) - - -
A2.1.8 Pending Value Engineering (Appendix G) - - -
A2.1.9 Early Warnings (Appendix H) - - -
Sub-total Uncommitted Cost (UC) - - -
Total Anticipated Final Cost (CC + UC) 88,815,657.00 86,167,342.12 (2,648,314.88)
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A2 Cost Breakdown (cont'd)
A2.2 Movement in the period
Previous Report Current Report Variance
Committed Costs
A2.2.1 Contract Price 88,815,657.00 88,815,657.00 -
A2.2.2 VOs (Appendix A) (1,770,197.83) (1,770,197.83) -

- PSums - - -
- Variations (1,770,197.83) (1,770,197.83) -
A2.2.3 Approved Claims (Appendix B) - - -
A2.2.4 Approved Value Engineering (Appendix C) - - -
A2.1.10 Remeasurement Adjustments (Appendix I) (878,117.05) (878,117.05) -
Sub-total Committed Cost (CC) 86,167,342.12 86,167,342.12 -
Uncommitted Costs
A2.2.5 Approved PVOs (Appendix D) - - -

- PSums - - -
- Variations - - -
A2.2.6 Pending PVOs (Appendix E) - - -

- PSums - - -
- Variations - - -
A2.2.7 Pending Claims (Appendix F) - - -
A2.2.8 Pending Value Engineering (Appendix G) - - -
A2.2.9 Early Warnings (Appendix H) - - -
Sub-total Uncommitted Cost (UC) - - -
Total Anticipated Final Cost (CC + UC) 86,167,342.12 86,167,342.12 -
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Appendix A - VOs (Agreed Variation Order) - Committed Cost
VO Amount
Description Date Raised Notes
No. Psum Variation
1 Change of the Shoring Pile Support System from Internal Supports to Anchors (496,533.83) 6-Jan-15
2 Deletion of Pile Head Cutting Work (1,273,664.00) 16-Sep-14
- (1,770,197.83)
Total Carried to Cost Breakdown (A2.1.2)
(1,770,197.83)
Appendix B - Approved Claims - Committed Cost
No. Description Value Notes
1 The Engineer has recommended 172 days as extension of Time for Completion - M/s Atkins letter ref. 5128018/700/FAJ/maw/R8-0144 dated
without cost deriving revised Completion Date as 10 Dec 2014. 10th March 2015
Total Carried to Cost Breakdown (A2.1.3) -
Appendix C - Approved Value Engineering - Committed Cost
- Nothing to Report -
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Appendix D - Approved PVOs (Provisional Variation Order) - Uncommitted Cost
PVO Amount
Description Notes
No. Psum Variation
01 Change of the Shoring Pile Support System from Internal Supports to Anchors - VO has been finalized and amount transferred to VO
02 Deletion of Pile Head Cutting Work - VO has been finalized and amount transferred to VO
03 Maintenance of Dewatering System after Completion of Pilling and Enabling Cancelled Cancelled as per M/s AHG email dated 04 March 2015.
Works
- -
-
Appendix E - Pending PVOs (Provisional Variation Order) - Uncommitted Cost
PVO Amount
Description Notes
No. Psum Variation
- -
-
Appendix F - Pending Claims - Uncommitted Cost
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Appendix G - Pending Value Engineering - Uncommitted Cost
Appendix H - Early Warnings - Uncommitted Cost
Appendix I - Remeasurement Adjustments - Committed Cost
1 Remeasurement adjustments based on final quantities of the BOQ (878,117.05) Accepted Contract Amount - Final BOQ Amount = (AED 88,815,657-87,937,539.95)
Total Carried to Cost Breakdown (A2.1.10) (878,117.05)
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Appendix J - Certification & Payment Status
Amount Balance
For Period Engineer's Certified
No. Description Received by Received Date Amount to Notes
Ending Certification Date Amount
the Contractor Receive
Advance
01 Payment Certificate No. 01 N/A 17,763,131.40 17,763,131.40 5-Feb-14 - Atkins and NEA has not issued Payment Certificate against Advance Payment
Payment
02 Payment Certificate No. 02 28-Feb-2014 7-Apr-2014 2,469,100.93 2,469,100.93 1-May-14 -
03 Payment Certificate No. 03 31-Mar-2014 27-Apr-2014 7,615,034.10 7,615,034.10 26-May-14 -
04 Payment Certificate No. 04 30-Apr-2014 19-May-2014 13,043,952.75 13,043,952.75 18-Jun-14 -
05 Payment Certificate No. 05 31-May-2014 17-Jun-2014 11,304,642.44 11,304,642.44 17-Jul-14 -
06 Payment Certificate No. 06 30-Jun-2014 22-Jul-2014 8,588,594.20 8,588,594.20 18-Aug-14 -
07 Payment Certificate No. 07 30-Jul-2014 7-Aug-2014 6,256,464.97 6,256,464.97 9-Sep-14 -
08 Payment Certificate No. 08 31-Aug-2014 21-Sep-2014 3,178,125.92 3,178,125.92 13-Oct-14 -
09 Payment Certificate No. 09 30-Sep-2014 19-Oct-2014 1,736,305.52 1,723,044.43 17-Nov-14 13,261.09
10 Payment Certificate No. 10 31-Oct-2014 16-Nov-2014 1,850,281.03 1,863,542.12 15-Dec-14 (13,261.09)
11 Payment Certificate No. 11 30-Nov-2014 22-Dec-2014 3,025,967.09 3,025,967.09 15-Jan-15 -
12 Payment Certificate No. 12 10-Dec-2014 17-Mar-2015 4,664,870.40 4,664,870.40 2-Apr-15 -
13 Payment Certificate No. 13 10-Dec-2014 26-Apr-2015 4,308,367.10 4,278,367.00 10-May-15 30,000.10 Release of balance 5% Retention Money against security cheque
Total 85,804,837.85 85,774,837.75 30,000.10
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Appendix K - Cash flow Forecast
Cumulative
Val. Forecast Net Forecast Net Actual Net
Valuation Month Actual Net Payment Variance
No. Payment Cumulative Cumulative
Forecast to Actual
1 Jan-14 17,763,131.40 17,763,131.40 - - (17,763,131.40)
2 Feb-14 1,197,611.80 18,960,743.20 17,763,131.40 17,763,131.40 (1,197,611.80)
3 Mar-14 1,845,609.94 20,806,353.14 - 17,763,131.40 (3,043,221.74)
4 Apr-14 12,790,074.11 33,596,427.25 - 17,763,131.40 (15,833,295.85)
5 May-14 14,233,482.66 47,829,909.91 10,084,135.03 27,847,266.43 (19,982,643.48)
6 Jun-14 15,148,490.46 62,978,400.37 13,043,952.75 40,891,219.18 (22,087,181.19)
7 Jul-14 12,024,360.62 75,002,760.99 11,304,642.44 52,195,861.62 (22,806,899.37)
8 Aug-14 8,162,132.57 83,164,893.56 8,588,594.20 60,784,455.82 (22,380,437.74)
9 Sep-14 - 83,164,893.56 6,256,464.97 67,040,920.79 (16,123,972.77)
10 Oct-14 - 83,164,893.56 3,178,125.92 70,219,046.71 (12,945,846.85)
11 Nov-14 - 83,164,893.56 1,723,044.43 71,942,091.14 (11,222,802.42)
12 Dec-14 - 83,164,893.56 1,863,542.12 73,805,633.26 (9,359,260.30)
13 Jan-15 - 83,164,893.56 3,025,967.09 76,831,600.35 (6,333,293.21)
14 Feb-15 - 83,164,893.56 - 76,831,600.35 (6,333,293.21)
15 Mar-15 - 83,164,893.56 - 76,831,600.35 (6,333,293.21)
16 Apr-15 - 83,164,893.56 4,664,870.40 81,496,470.75 (1,668,422.81)
17 May-15 - 83,164,893.56 4,278,367.00 85,774,837.75 2,609,944.19
18 Jun-15 4,377,099.70 87,541,993.26 - 85,774,837.75 (1,767,155.51)
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COST REPORT - 41
Appendix L - Cash flow Forecast (Graph)
18 90
87.54
83.16 83.16 83.16 83.16 83.16 83.16 83.16 83.16 83.16 83.16
16 85.77 85.77 80
81.50
Cumulative Value (Secondary Axis) - Millions

75.00
76.83 76.83 76.83
14 73.81 70
71.94
70.22
62.98 67.04
12 60
60.78
10 50
47.83
17.76
52.20
8 40
40.89
13.04
33.60 27.85
11.30
6 10.08 30
8.59
4 20.81 20
17.76 18.96
6.26
17.76 17.76 17.76
4.66
4.28
2 10
3.18
3.03
17.76
12.79
14.23
15.15
12.02
1.20
1.85
8.16
1.72
1.86
4.38
-
-
0 0
Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15
-
Forecast Net Payment 17,763,131. 1,197,611.8 1,845,609.9 12,790,074. 14,233,482. 15,148,490. 12,024,360. 8,162,132.5 - - - - - - - - - 4,377,099.7
Actual Net Payment - 17,763,131. - - 10,084,135. 13,043,952. 11,304,642. 8,588,594.2 6,256,464.9 3,178,125.9 1,723,044.4 1,863,542.1 3,025,967.0 - - 4,664,870.4 4,278,367.0 -
Forecast Net Cumulative 17,763,131. 18,960,743. 20,806,353. 33,596,427. 47,829,909. 62,978,400. 75,002,760. 83,164,893. 83,164,893. 83,164,893. 83,164,893. 83,164,893. 83,164,893. 83,164,893. 83,164,893. 83,164,893. 83,164,893. 87,541,993.
Actual Net Cumulative - 17,763,131. 17,763,131. 17,763,131. 27,847,266. 40,891,219. 52,195,861. 60,784,455. 67,040,920. 70,219,046. 71,942,091. 73,805,633. 76,831,600. 76,831,600. 76,831,600. 81,496,470. 85,774,837. 85,774,837.
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Appendix AA1 - Provisional Sum Schedule
Contract Adjusted Contract

No. Description Variance
Psum OH & P Total Psum OH & P Total
01 Site hording along the total length of the project 400,000.00 40,000.00 440,000.00 - (440,000.00)
Note : Saving from this Provisional Sum is

considered under Appendix I - Remeasurement
Adjustments.
Total 400,000.00 40,000.00 440,000.00 - - - (440,000.00)
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Appendix AA2 - Change Management Log
PVO EI VO
DNIC Atkins Atkins DNIC Next
NEA Issued Atkins EI Issue VO NEA Issued
No Description Approved Status Value Issued Date Issued Date Approved Value Remarks Action
date Issued Date No. Date No Date
Date to HSSG to DNIC Date by
Variation Orders (VOs)

Change of the Shoring Pile Support System from Internal
01 30-Mar-2014 16-Apr-2014 21-Apr-2014 Approved (425,000.00) N/A N/A 01 6-Jan-2015 8-Jan-2015 5-Feb-2015 11-Feb-2015 (496,533.83) Closed
Supports to Anchors
02 Deletion of Pile Head Cutting Work 7-May-2014 8-May-2014 11-May-2014 Approved (1,273,664.00) N/A N/A 02 16-Sep-2014 17-Sep-2014 5-Nov-2014 10-Nov-2014 (1,273,664.00) Closed
Maintenance of Dewatering System after Completion of
As per M/s AHG
03 Pilling & Enabling Works 15-Jan-2015 15-Jan-2015 4-Feb-2015 Approved 157,500.00 N/A N/A 03 9-Feb-2015 17-Feb-2015 23-Feb-2015 Cancelled -
email dated 04/03/15
Total 3 3 3 (1,541,164.00) 3 3 3 2 (1,770,197.83) -
20 of 43
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COST REPORT - 41
Package B - Main Works
21 of 43
5-Sep-17
COST REPORT - 41 Package B - Main Works
B1 Contract Particulars
Client: Dubai National Investment Co. LLC
P.O. Box 25444, Dubai, U.A.E
Engineer: WS Atkins & Partners Overseas
P.O. Box 5620, Dubai, U.A.E
Contractor: Al Habtoor Leighton LLC
PO Box 10869, Dubai, U.A.E
Type of Contract: Lump Sum
Accepted Contract Amount: 1,450,000,000.00 AED
Commencement Date: 1-Jul-14
Time for Completion: 32 months
Completion Date: 28-Feb-17
Revised Completion Date: N/A
Actual Completion Date: N/A
Extension of Time claim submitted: No
Advance Payment Amount - HLG: AED 145,000,000.00
Additional Advance Payment - HLG: AED 50,000,000.00
Advance Payment - Arabian Electricians: AED 25,000,000.00
Advance Payment - Elmacs Co. LLC: AED 28,000,000.00
Advance Payment - Extra Co. Industries : AED 5,050,000.00
Advance Payment - Sara General Trading AED 1,198,611.60
Advance Payment - Scientechnic AED 3,225,000.00
Advance Payment - Gulf Landscape AED 3,600,000.00
Advance Payment - Graniti AED 264,930.64
Advance Payment - Idea Mobili AED 1,350,001.82
Advance Payment - Metallic Equipment AED 342,395.52
Advance Payment - Alumco AED 5,000,000.00
Advance Payment Guarantee - HLG: N/A
Advance Payment Guarantee - Arabian Electricians: 201LGAP151940001; expiry date 31/12/2017
Advance Payment Guarantee - Elmacs Co. LLC: 4001CLG201503460, expiry date 31/12/2017
Advance Payment Guarantee - Extra Co. Industries 701LGAP152080001, expiry date 31/12/2017
(Amendment 2)
Advance Payment Guarantee - Sara LAG/051003271/16, expiry date 28/02/2017
Advance Payment Guarantee - Scientechnic OLG1503779-17, expiry date 31/12/2017
Advance Payment Guarantee - Gulf Landscape APGDUB060105, expiry date 31/12/2017
Advance Payment Guarantee - Graniti 00001021600143, expiry date 18/12/2016
(Amendment 1)
Advance Payment Guarantee - Idea Mobili APBD-1605040741, expiry date 31/12/2017
Advance Payment Guarantee - Metallic Equipment MD1616400023, expiry date 31/03/2017
Performance Security: N/A
Contractor's All Risk Insurance Policy Expiry: 31 Dec 2017+Defects Notification Period
Workman's Compensation Insurance Expiry: 31-Dec-17
Plant & Machinery Insurance Expiry: 31-Dec-17
22 of 43
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B2 Cost Breakdown
B2.1 Accepted Contract Amount vs. Current Cost Report
Accepted Contract
Current Report Variance
Amount
Committed Costs
B2.1.1 Contract Price 1,450,000,000.00 1,450,000,000.00 -
B2.1.2 VOs (Appendix A) - 62,050,650.00 62,050,650.00
- PSum - - -
- Variations - 62,050,650.00 62,050,650.00
B2.1.3 Approved Claims (Appendix B) - - -
B2.1.4 Approved Value Engineering (Appendix C) - - -
Uncommitted Costs
Approved PVOs, Provisional Sum & PC - 20,873,954.40 20,873,954.40

B2.1.5
Rates
- PSum/PC Rates (Appendix BA1) - 20,873,954.40 20,873,954.40
- Variations (Appendix D) - - -
B2.1.6 Pending PVOs (Appendix E) - - -

- PSum - - -
- Variations - - -
B2.1.7 Pending Claims (Appendix F) - - -
B2.1.8 Pending Value Engineering (Appendix G) - - -

-
B2.1.9 Early Warnings (Appendix H) - 9,079,242.15 9,079,242.15
Sub-total Uncommitted Cost (UC) - 29,953,196.55 29,953,196.55
Total Anticipated Final Cost (CC + UC) 1,450,000,000.00 1,542,003,846.55 92,003,846.55
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B2 Cost Breakdown (cont'd)
B2.2 Movement in the period
Previous Report Current Report Variance
Committed Costs
B2.2.1 Contract Price 1,450,000,000.00 1,450,000,000.00 -
B2.2.2 VOs (Appendix A) 59,370,783.23 62,050,650.00 2,679,866.77

- PSum - - -
- Variations 59,370,783.23 62,050,650.00 2,679,866.77
B2.2.3 Approved Claims (Appendix B) - - -
B2.2.4 Approved Value Engineering (Appendix C) - - -
Uncommitted Costs
Approved PVOs, Provisional Sum & PC 23,007,056.33 20,873,954.40 (2,133,101.93)

B2.1.6
Rates
- PSum/PC Rates (Appendix BA1) 20,873,954.40 20,873,954.40 -
- Variations (Appendix D) 2,133,101.93 - (2,133,101.93)
B2.1.7 Pending PVOs (Appendix E) - - -

- PSum - - -
- Variations - - -
B2.1.8 Pending Claims (Appendix F) - - -
B2.1.9 Pending Value Engineering (Appendix G) - - -
B2.1.10 Early Warnings (Appendix H) 9,626,006.99 9,079,242.15 (546,764.84)
Sub-total Uncommitted Cost (UC) 32,633,063.32 29,953,196.55 (2,679,866.77)
Total Anticipated Final Cost (CC + UC) 1,542,003,846.55 1,542,003,846.55 0.00
24 of 43
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B2 Cost Breakdown (cont'd)
B2.3 Key Movement in Reporting Period
The key movement in the reporting period are summarised below:-
VOs (Appendix A)
VO No. 12 - HLG Overhead & Profit, Attendance and Builders Work for Tennis Court 2,155,059.17
VO No. 32 - Changes in Ground Floor Hard landscape Materials (211,579.90)
VO No. 33 - Fire Hydrant System as per Civil Defense Final Approval 736,387.50
2,679,866.77
Approved PVOs, Provisional Sum & PC Rates
Amount reduced due to finalisation of VO No. 12 (2,133,101.93)
(2,133,101.93)
Early Warnings (Appendix H)

Amount reduced due to finalisation of VO No. 32 (220,800.00)
Amount reduced due to finalisation of VO No. 33 (665,964.84)
Plumbing and drainage requirement for entrance lobby water feature at Tower 1, 2 and 3 50,000.00
Retail No. 19 - MEP modification as per Tenant's requirements 200,000.00
Basement 1 - New IDF Room Requirement 90,000.00
(546,764.84)
Total Movement in the Period -
25 of 43
5-Sep-17
Amount
VO No. Description Date Raised Notes
Psum Variation
1 Shifting of Retaining Wall 30-Mar-15 267,157.04 Approved by the Client
2 (Rev. 01) Maintenance of Dewatering System from 15 January 2015 to 30 November 1,416,480.00 Approved by the Client
31-Jul-16
2015
3 (Rev. 01) Provision of Embedded Base/ Anchor Plates & Bolts for Covered Tennis Court 25-Nov-15 20,422.30 Approved by the Client
4 (Rev. 02) Remaining Excavation Works 28-Feb-16 745,525.11 Approved by the Client
5 Changes in FAHU Equipment 25-Nov-15 486,914.75 Approved by the Client
6 (Rev. 01) Additional Lifts in Retail Areas 11-May-16 1,377,655.00 Approved by the Client
7 Total addition for increase of concrete & steel on the project. 17-Dec-15 44,000,000.00 Approved by the Client
8 Changes in Car Park Ventilation System at Podium Level 4 & 5 24-Mar-16 7,795,705.83 Approved by the Client
9 Cost Saving for Client Supplied Light Fittings in Drive Way & Car Parking Areas (190,833.00) Approved by the Client
29-Mar-16
10 Cost Saving for Client Supplied Light Fittings in Back of House and (1,439,229.95) Approved by the Client
16-May-16
Apartments' Kitchen & Bathrooms
11 Modification for Chilled Water Pipes to Install BTU meters 23-May-16 52,071.19 Approved by the Client
12 HLG Overhead & Profit, Attendance and Builders Work for Tennis Court 27-Aug-17 2,155,059.17 Pending Client's approval
13 Changes in Sanitary Fittings and Toilet Accessories in Apartments 31-May-16 5,557,418.90 Approved by the Client
14 Modification of LV Panels and Cable Sizes due to Tennis Court Kitchen 156,155.16 Approved by the Client
3-Aug-16
Requirements
15 Retaining Wall at Outdoor Tennis Courts 4-Oct-16 31,674.59 Approved by the Client
16 (Rev. 01) CCTV System as per DPS Requirements 9-Jan-17 2,396,718.54 To be agreed by HLG
17 Relocation of Dishwasher in Apartment No.7 for Tower 1,2 & 3 for Kitchen 12,270.83 Approved by the Client
6-Feb-17
Type K4
18 Drain provision for staircase 5,7,8 and 9 14-Feb-17 8,774.69 Approved by the Client
19 Cost saving for façade light and control system 14-Feb-17 (1,400,000.00) Approved by the Client
20 MEP works for Basement 2 6-Mar-17 109,633.88 Approved by the Client
21 Relocation of FCUs in Main Entrance Lobby - Tower 1,2 & 3 9-Apr-17 55,901.84 Approved by the Client
22 Containment for Interfacing the Tennis Court CCTV & Structured Cabling 24,583.42 Approved by the Client
25-Apr-17
System to Residential Towers
23 Fire Fighting System as per Civil Defense Final Approval 1-May-17 (174,176.70) Approved by the Client
24 Deletion of Penstock Chamber at Ground Floor 7-May-17 (2,507.94) Approved by the Client
25 External Bridges at Podium Level 2 7-May-17 242,508.02 Approved by the Client
26 HVAC & Plumbing Provisions for Retail Units 10-May-17 101,703.66 Approved by the Client
26 of 43
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Amount
VO No. Description Date Raised Notes
Psum Variation
27 Toilet Cubicles for Public Toilets in Podium 78,201.50 Approved by the Client; Pending
7-Jun-17 HLG signature
28 Changes in Ceiling Finishes 6,363,084.25 Approved by the Client
22-Jun-17
29 Power, Fire Alarm Provisions & Data Containment for Car Park Management 101,254.04 Approved by the Client
System 3-Jul-17
30 Additional data outlet and shaver socket 5-Jul-17 25,866.08 Pending Client's approval
31 Omission of Kitchen Cabinets 26-Jul-17 (8,850,149.80) Approved by the Client
32 Changes in Ground Floor Hardlandscape Materials 14-Aug-17 (211,579.90) Pending Client's approval
33 Fire Hydrant System as per Civil Defense Final Approval 20-Aug-17 736,387.50 Pending Client's approval
- 62,050,650.00
Total Carried to Cost Breakdown (B2.1.2)
62,050,650.00
27 of 43
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Appendix B - Approved Claims - Committed Cost
No. Description Date Raised Value Notes
Total Carried to Cost Breakdown (B2.1.3) -
28 of 43
5-Sep-17
Appendix C - Approved Value Engineering - Committed Cost
29 of 43
5-Sep-17
Appendix D- Approved PVOs (Provisional Variation Order) - Uncommitted Cost
PVO Amount
No. Psum Variation
1 Shifting of Retaining Wall 8-Jan-15 - VO has been finalized and amount transferred to VO
2 Maintenance of Dewatering System after Novation of Dewatering - VO has been finalized and amount transferred to VO
28-Jan-15
Subcontractor to M/s HLG
5 Changes in FAHU Equipment 18-Nov-15 - VO has been finalized and amount transferred to VO
12 HLG Overhead & Profit, Attendance and Builders Work for VO has been finalized and amount transferred to VO
26-May-16
Tennis Court -
- -
-
30 of 43
5-Sep-17
Appendix E- Pending PVOs (Provisional Variation Order) - Uncommitted Cost
PVO Amount
No. Psum Variation
- -
-
31 of 43
5-Sep-17
Appendix F - Pending Claims - Uncommitted Cost
32 of 43
5-Sep-17
Appendix G - Pending Value Engineering - Uncommitted Cost
33 of 43
5-Sep-17
Appendix H - Early Warnings - Uncommitted Cost
No Date
Description Value Notes
. Raised
1 Cost saving due to reduction in the built of area of Tower 1 & 2 8-Sep-14 (19,500,000.00) NEA estimated amount
2 Parking Management System 3-Sep-15 1,357,591.00 As per M/s HLG letter ref. 0769
3 Cost saving for reduction in floor height in Tower 1,2 & 3 due to BMU arrangement 25-Apr-16 (475,967.54) As per M/s HLG letter ref. 0835
4 Cementitious waterproofing coating behind façade instead of bitumin waterproofing (EI 2-May-16 1,300,000.00 NEA estimated amount
No. 04)
5 Floor drain provision for water heater rooms 18-May-16 31,000.00 NEA estimated amount
6 Changes in water services (comparison between IFC and Contract drawings) 30-Jun-16 950,747.76 As per M/s HLG letter ref. 1100
7 Door architrave, shaft door omission and fire rating upgrade 11-Jul-16 2,834,199.30 As per M/s HLG letter ref. 0822
8 Finishing and light fitting in deleted landscape area - Level 4 (E.I No. 05) 29-Nov-16 1,599,149.10 NEA estimated amount
9 Deletion of background music system 16-Nov-15 (200,000.00) NEA estimated amount
10 Deletion of etisalat system 16-Nov-15 (800,000.00) NEA estimated amount
11 HLG Overhead & Profit, Attendance and Builders Work for Kitchen Appliances 29-Aug-16 903,150.00 13.5% of Y.K. Almoayyed PO amount
12 HLG Overhead & Profit, Attendance and Builders Work for Shower Glass Partition 29-Aug-16 228,241.39 13.5% of Decolab PO amount
13 Changes in floor and wall finishes in lift lobbies and entrance area 20-Sep-16 (5,000,000.00) As per the information received from
HLG on 20/09/16.
14 HLG overhead & profit and attendance for tennis court direct POs issued by the 21-Sep-16 195,491.40 13.5% of the related POs amount
Employer (dumb waiters, external & internal work by Ramond Sport, kitchen
appliances and LPG gas system)
15 Relocation of floor drain pipe in tower 2 LV room 21-Sep-16 9,000.00 NEA estimated amount
16 Changes in light fittings (Comparison between IFC and Contract Drawings) 21-Sep-16 2,614,521.57 As per the information received from
17 Changes in HVAC and electrical services (Comparison between IFC and Contract 21-Sep-16 8,000,000.00 HLG on 21/09/16.
Drawings)
18 Changes in drainage services (comparison between IFC and Contract drawings) 21-Sep-16 2,748,919.81 HLG letter ref. 1101
19 Waive of FSC (Forestry Stewardship Council) accreditation for the sources of the 27-Jun-16 HLG to submit the cost saving
Timber
20 Omission of stainless steel doors for fire hose real cabinets 14-Apr-16 HLG to submit the cost saving
21 Deletion of concrete wall plastering inside the apartments and podium areas 17-Oct-16 HLG to submit the cost saving
22 Change of shaft wall from dry wall partition STC60+ to block wall 17-Oct-16 HLG to submit the cost saving
23 Change in acoustic ratings for kitchen wall (from STC 55 to 45) and toilet walls (from 17-Oct-16 HLG to submit the cost saving
STC 50 to 45) in apartments
24 HLG Overhead & Profit, Attendance and Builders Work for Water features at Towers 26-Oct-16 14,175.00 13.5% of Newtech Pools LLC PO
ground floor main lobbies ref. 201611856 dated 08/12/16
25 Plumbing and drainage requirement for entrance lobby water feature at Tower-1, 2 26-Oct-16 50,000.00 NEA estimated amount
and 3
26 Changes in window at L51 of Tower 3 and Level 71 in Tower 1 and 2 (EI No. 06) 31-Jan-17 14,957.24 NEA estimated amount
27 Removing Frame and Glass and adding door at podium level 2 18-Feb-17 7,000.00 NEA estimated amount
28 Roof steel feature, sky lounge and sky light 28-Mar-17 4,988,266.50 As per M/s HLG letter ref. 1030
29 Busbar change in rating due to load increase & rerouting 23-Mar-15 2,690,571.04 As per M/s HLG letter ref. 1046
30 Changes for Power Cables and Switchgear 15-May-17 3,454,502.46 As per M/s HLG letter ref. 1068
31 Change in DEWA Main Water Supply Line as per DEWA NOC – 8061801 (EI No. 07) 10-May-17 304,945.57 As per M/s HLG letter ref. 1098
32 Change to Lift Lobby Finishes at Penthouse levels (EI No. 08) 13-Jun-17 HLG to submit the cost
33 Revised LPG system in retail area 4-Jul-17 104,587.93 As per M/s HLG letter ref. 1122
34 Change of signage panel to façade vision glass panel at Retail No. 18 (EI No. 009) 11-Jul-17 HLG to submit the cost
35 Retail No. 19 - MEP modification as per Tenant's requirements (EI No. 10) 11-Jul-17 200,000.00 NEA estimated amount
36 Re-routing of HVAC duct in LV rooms 27-Jul-17 364,192.62 As per M/s HLG letter ref. 1136
37 Modification of Apartment No. 6502 and 6503 at Tower 2 as per the Client's instruction 31-Jul-17 HLG to submit the cost
(EI No. 11)
38 All Towers - Provisions in Penthouses as per Client Instruction (EI No. 12) 9-Aug-17 HLG to submit the cost
39 Air Conditioning Required for Podium Lift Shafts for Lifts - P1, P2, P3, P4, GS2, RS2 12-Aug-17 HLG to submit the cost
(EI No. 13)
40 Basement 1 - New IDF Room Requirement (EI No. 14) 16-Aug-17 90,000.00 NEA estimated amount
Total Carried to Cost Breakdown (B2.1.10) 9,079,242.15
34 of 43
5-Sep-17

As per Payment Certificate (PC)
Direct Payment Direct LC
Engineer's Amount Received Balance
PC Certified to Payment Payment Total Amount
Description For Period Ending Certification Received Date Amount to LC Payment
No. Amount Subcontractors/ Received received Received
Date against PC against PC Receive
Suppliers Date date
01 Payment Certificate No. 01 Advance Payment 10-Mar-14 145,000,000.00 145,000,000.00 20-Mar-14 - 145,000,000.00
02 Payment Certificate No. 02 31-Jul-14 10-Sep-14 5,647,680.29 5,647,680.29 24-Sep-14 - 5,647,680.29
03 Payment Certificate No. 03 31-Aug-14 14-Sep-14 3,967,910.36 3,967,910.36 8-Oct-14 - 3,967,910.36
04 Payment Certificate No. 04 30-Sep-14 21-Oct-14 5,698,610.00 5,698,610.00 18-Nov-14 - 5,698,610.00
05 Payment Certificate No. 05 31-Oct-14 12-Nov-14 6,578,999.57 6,578,999.57 9-Dec-15 - 6,578,999.57
06 Payment Certificate No. 06 30-Nov-14 16-Dec-14 8,011,506.12 8,011,506.12 15-Jan-15 - 8,011,506.12
07 Payment Certificate No. 07 31-Dec-14 14-Jan-15 6,873,097.25 6,873,097.25 25-Jan-15 - 6,873,097.25
08 Payment Certificate No. 08 31-Jan-15 12-Feb-15 8,232,598.78 8,232,598.78 9-Mar-15 - 8,232,598.78
09 Payment Certificate No. 09 28-Feb-15 11-Mar-15 8,316,173.98 8,316,173.98 21-Apr-15 - 8,316,173.98
10 Payment Certificate No. 10
(Rev. 31-Mar-15 15-Apr-15 7,617,701.56 7,617,701.56 12-May-15 - 7,617,701.56
01)
(Rev. 01)
11 Payment Certificate No. 11 30-Apr-15 12-May-15 17,934,996.06 13,934,996.06 15-Jun-15 4,000,000.00 13,934,996.06
4,000,000.00 3-Aug-15 (4,000,000.00) 4,000,000.00
12 Payment Certificate No. 12 Additional Advance 14-Jun-15 50,000,000.00 50,000,000.00 28-May-15 - 50,000,000.00
13 Payment Certificate No. 13 31-May-15 14-Jun-15 17,041,245.93 17,041,245.93 3-Aug-15 - 17,041,245.93
14 Payment Certificate No. 14 30-Jun-15 15-Jul-15 13,889,366.00 12,889,366.00 30-Aug-15 1,000,000.00 12,889,366.00
Advance Payment -
15 Payment Certificate No. 15 29-Jul-15 25,000,000.00 25,000,000.00 4-Aug-15 - 25,000,000.00
Arabian Electricians
16 Payment Certificate No. 16 Advance - Elmacs 29-Jul-15 28,000,000.00 28,000,000.00 4-Aug-15 - 28,000,000.00
17 Payment Certificate No. 17 31-Jul-15 12-Aug-15 14,709,050.64 14,048,048.25 22-Sep-15 661,002.39 14,048,048.25
18 Payment Certificate No. 18 31-Aug-15 15-Sep-15 16,440,040.31 16,199,568.00 21-Oct-15 240,472.31 16,199,568.00
19 Payment Certificate No. 19 30-Sep-15 14-Oct-15 16,190,625.37 16,073,631.00 16-Nov-15 116,994.37 16,073,631.00
20 Payment Certificate No. 20 31-Oct-15 12-Nov-15 40,145,023.65 39,922,732.00 23-Nov-15 222,291.65 39,922,732.00
21 Payment Certificate No. 21 30-Nov-15 15-Dec-15 30,176,207.26 26,089,855.00 10-Jan-16 4,086,352.26 26,089,855.00
Advance Payment -
22 Payment Certificate No. 22 7-Jan-16 5,050,000.00 5,050,000.00 14-Jan-16 - 5,050,000.00
Extra Co.
Advance Payment -
23 Payment Certificate No. 23 12-Jan-16 1,198,611.60 1,198,611.60 31-Jan-16 - 1,198,611.60
Sara
24 Payment Certificate No. 24 31-Dec-15 14-Jan-16 24,234,211.88 27,361,233.00 21-Feb-16 (3,127,021.12) 27,361,233.00
Advance Payment -
25 Payment Certificate No. 25 8-Feb-16 3,225,000.00 3,225,000.00 18-Feb-16 - 3,225,000.00
Scientechnic
26 Payment Certificate No. 26 31-Jan-16 15-Feb-16 31,652,278.68 31,963,659.25 8-Mar-16 (311,380.57) 565,453.50 31-Jan-16 32,529,112.75
35 of 43
5-Sep-17

As per Payment Certificate (PC)
Direct Payment Direct LC
Engineer's Amount Received Balance
PC Certified to Payment Payment Total Amount
Description For Period Ending Certification Received Date Amount to LC Payment
No. Amount Subcontractors/ Received received Received
Date against PC against PC Receive
Suppliers Date date
Advance Payment -
27 Payment Certificate No. 27 22-Mar-16 3,600,000.00 3,600,000.00 Apr-16 - 3,600,000.00
Gulf Landscape
Advance Payment -
28 Payment Certificate No. 28 22-Mar-16 264,930.64 264,930.64 Apr-16 - 264,930.64
Graniti
29 Payment Certificate No. 29 29-Feb-16 22-Mar-16 25,258,197.40 24,995,567.56 12-Apr-16 262,629.84 8,421.00 29-Feb-16 25,003,988.56
Payment Certificate No. 30
30 31-Mar-16 16-May-16 8,000,000.00 7,750,000.00 18-May-16 250,000.00 4,209,011.17 31-Mar-16 11,959,011.17
(Rev. 01)
31 Payment Certificate No. 31 30-Apr-16 16-May-16 8,000,000.00 7,750,000.00 29-Jun-16 250,000.00 11,537,832.27 30-Apr-16 19,287,832.27
Advance Payment -
32 Payment Certificate No. 32 9-Jun-16 1,350,001.82 1,350,001.82 16-May-16 - 1,350,001.82
Idea Mobili
33 Payment Certificate No. 33 31-May-16 20-Jun-16 8,000,000.00 8,297,643.00 23-Jul-16 (297,643.00) 58,852,813.07 25-May-16 20,401,065.88 31-May-16 87,551,521.95
Advance Payment -
34 Payment Certificate No. 34 2-Jul-16 342,395.52 342,395.52 12-Jul-16 - 342,395.52
Metallic Equipment
35 Payment Certificate No. 35 30-Jun-16 19-Jul-16 5,000,000.00 5,000,000.00 28-Aug-16 - 7,395,236.84 27-Jun-16 22,734,081.50 30-Jun-16 35,129,318.34
36 Payment Certificate No. 36 31-Jul-16 18-Aug-16 8,000,000.00 8,000,000.00 15-Sep-16 - 13,552,254.27 24-Jul-16 15,061,724.88 31-Jul-16 36,613,979.15
37 Payment Certificate No. 37 31-Aug-16 19-Sep-16 3,174,324.79 3,174,324.79 16-Oct-16 - 524,970.58 1-Aug-16 24,469,331.10 31-Aug-16 28,168,626.47
38 Payment Certificate No. 38 30-Sep-16 3-Oct-16 8,000,000.00 8,000,000.00 19-Oct-16 - 22,319,739.90 4-Sep-16 8,495,064.90 30-Sep-16 38,814,804.80
39 Payment Certificate No. 39 31-Oct-16 23-Nov-16 554,442.49 554,442.49 5-Jan-17 - 19,138,510.45 15-Oct-16 24,056,512.25 31-Oct-16 43,749,465.19
40 Payment Certificate No. 40 30-Nov-16 22-Dec-16 - - - 6,876,034.52 10-Nov-16 28,495,637.43 30-Nov-16 35,371,671.95
41 Payment Certificate No. 41 31-Dec-16 29-Jan-17 2,519,450.76 2,519,450.76 28-Feb-18 - 3,123,824.48 19-Dec-16 23,745,294.06 31-Dec-16 29,388,569.30
42 31-Jan-17 27-Feb-17 6,295,600.00 6,105,020.70 25-Mar-17 190,579.30 19,889,287.05 9-Jan-17 15,520,173.75 31-Jan-17 41,514,481.50
(Rev. 01)
43 Payment Certificate No. 43 28-Feb-17 27-Mar-17 8,000,000.00 8,000,000.00 23-Apr-17 - 26,043,178.53 10-Mar-17 9,979,737.41 28-Feb-17 44,022,915.94
Advance Payment -
44 Payment Certificate No. 44 18-Apr-17 5,000,000.00 5,000,000.00 21-Apr-17 - 5,000,000.00
Alumco
45 Payment Certificate No. 45 31-Mar-17 27-Apr-17 6,000,000.00 5,918,400.25 18-May-17 81,599.75 16,090,130.44 26-Apr-17 9,896,954.60 31-Mar-17 31,905,485.29
46 Payment Certificate No. 46 30-Apr-17 24-May-17 6,000,000.00 5,994,732.90 24-Jun-17 5,267.10 12,820,560.02 8-May-17 14,144,216.41 30-Apr-17 32,959,509.33
47 31-May-17 2-Jul-17 - - - 4,472,125.68 22-Jun-17 10,284,124.75 31-May-17 14,756,250.43
(Rev. 01)
48 Payment Certificate No. 48 30-Jun-17 31-Jul-17 211,737.95 - 211,737.95 9,196,685.58 13-Jul-17 11,819,025.17 30-Jun-17 21,015,710.75
Payment on account to HLG 5,000,000.00 5,000,000.00 30-Jul-17 - 5,000,000.00
49 Payment Certificate No. 49 31-Aug-17 27-Aug-17 370,161.67 30-Jul-17 - 11,260,421.03 21-Aug-17 5,700,546.42 31-Jul-17 16,960,967.45
Total 659,772,178.33 655,559,134.43 3,842,882.23 231,555,772.44 261,124,208.45 1,148,239,115.32
Note: Payment received dates as per the information received from the Contractor.
36 of 43
5-Sep-17
Appendix K - Cash Flow Forecast

Valuation Forecast Net Forecast Net Actual Net Cumulative Variance
Val. No. Actual Net Payment
Month Payment Cumulative Cumulative Forecast to Actual
1 Mar-14 145,000,000 145,000,000 145,000,000.00 145,000,000.00 -
Apr-14 0 145,000,000 - 145,000,000.00 -
May-14 0 145,000,000 - 145,000,000.00 -
Jun-14 0 145,000,000 - 145,000,000.00 -
2 Jul-14 0 145,000,000 - 145,000,000.00 -
3 Aug-14 2,465,000 147,465,000 - 145,000,000.00 (2,465,000.00)
4 Sep-14 5,176,840 152,641,840 5,647,680.29 150,647,680.29 (1,994,159.71)
5 Oct-14 5,300,090 157,941,930 3,967,910.36 154,615,590.65 (3,326,339.35)
6 Nov-14 7,148,840 165,090,770 5,698,610.00 160,314,200.65 (4,776,569.35)
7 Dec-14 10,599,840 175,690,610 6,578,999.57 166,893,200.22 (8,797,409.78)
8 Jan-15 16,022,840 191,713,450 14,884,603.37 181,777,803.59 (9,935,646.41)
9 Feb-15 26,129,340 217,842,790 - 181,777,803.59 (36,064,986.41)
10 Mar-15 24,403,840 242,246,630 8,232,598.78 190,010,402.37 (52,236,227.63)
11 Apr-15 29,333,840 271,580,470 8,316,173.98 198,326,576.35 (73,253,893.65)
12 May-15 40,549,590 312,130,060 57,617,701.56 255,944,277.91 (56,185,782.09)
13 Jun-15 46,095,840 358,225,900 13,934,996.06 269,879,273.97 (88,346,626.03)
14 Jul-15 43,384,340 401,610,240 - 269,879,273.97 (131,730,966.03)
15 Aug-15 46,465,590 448,075,830 86,930,611.93 356,809,885.90 (91,265,944.10)
16 Sep-15 62,857,840 510,933,670 14,048,048.25 370,857,934.15 (140,075,735.85)
17 Oct-15 58,790,590 569,724,260 16,199,568.00 387,057,502.15 (182,666,757.85)
18 Nov-15 68,897,090 638,621,350 55,996,363.00 443,053,865.15 (195,567,484.85)
19 Dec-15 67,418,090 706,039,440 - 443,053,865.15 (262,985,574.85)
20 Jan-16 63,474,090 769,513,530 32,903,920.10 475,957,785.25 (293,555,744.75)
21 Feb-16 65,901,598 835,415,128 30,594,654.00 506,552,439.25 (328,862,688.75)
22 Mar-16 60,601,848 896,016,976 36,172,670.42 542,725,109.67 (353,291,866.33)
23 Apr-16 71,160,574 967,177,550 40,398,330.47 583,123,440.14 (384,054,109.36)
24 May-16 65,984,074 1,033,161,623 88,353,880.77 671,477,320.91 (361,684,302.09)
25 Jun-16 64,080,073 1,097,241,697 37,879,318.34 709,356,639.25 (387,885,057.25)
26 Jul-16 45,154,824 1,142,396,520 37,254,017.67 746,610,656.92 (395,785,863.08)
27 Aug-16 51,440,574 1,193,837,094 29,994,301.68 776,604,958.60 (417,232,134.90)
28 Sep-16 54,521,823 1,248,358,917 38,814,804.80 815,419,763.40 (432,939,153.60)
29 Oct-16 52,303,324 1,300,662,241 54,369,347.49 869,789,110.89 (430,873,129.61)
30 Nov-16 53,570,770 1,354,233,010 35,371,671.95 905,160,782.84 (449,072,227.21)
31 Dec-16 39,668,056 1,393,901,066 26,869,118.54 932,029,901.38 (461,871,164.52)
32 Jan-17 33,992,559 1,427,893,625 35,963,903.29 967,993,804.67 (459,899,820.06)
33 Feb-17 28,871,774 1,456,765,399 12,499,188.17 980,492,992.84 (476,272,406.11)
Mar-17 46,688,351 1,503,453,750 42,045,153.83 1,022,538,146.67 (480,915,603.72)
Apr-17 1,503,453,750 43,234,346.85 1,065,772,493.52 (437,681,256.87)
May-17 1,503,453,750 29,023,085.02 1,094,795,578.54 (408,658,171.85)
Jun-17 1,503,453,750 22,285,883.75 1,117,081,462.29 (386,372,288.10)
Jul-17 1,503,453,750 19,897,232.00 1,136,978,694.29 (366,475,056.10)
Aug-17 1,503,453,750 11,260,421.03 1,148,239,115.32 (355,214,635.07)
Sep-17 1,503,453,750
Oct-17 1,503,453,750
Nov-17 1,503,453,750
Dec-17 1,503,453,750
Jan-18 1,503,453,750
Feb-18 1,503,453,750
34 Mar-18 38,550,096 1,542,003,847
37 of 43
5-Sep-17
Appendix L - Cash flow Forecast (Graph)

160 1,600
140 1,400
Cumulative Value (Secondary Axis)- Millions

120 1,200
100 1,000
80 800
60 600
40 400
20 200
0 0
Months
38 of 43
5-Sep-17
Appendix BA1 - Provisional Sum and PC Rates Schedule
Contract Adjusted Contract

No. Description Variance
Psum OH & P Total Psum OH & P Total
01 Landscape Work 19,000,000.00 19,000,000.00 36,000,000.00 4,860,000.00 40,860,000.00 21,860,000.00

02 Hard landscape works at level 6 (868,762.64) (117,282.96) (986,045.60) (986,045.60)
Total 19,000,000.00 - 19,000,000.00 35,131,237.36 4,742,717.04 39,873,954.40 20,873,954.40
39 of 43
5-Sep-17
Appendix BA2 - Change Management Log

PVO EI VO
DNIC DNIC Next
NEA Issue Atkins NEA Issue Atkins Issue Atkins Issue
No. Description Approved Status Value EI No. Issue Date VO No Approved Value Remarks Action
date Issue Date Date Date to HLG Date to DNIC
Date Date by

01 Shifting of Retaining Wall 8-Jan-15 8-Jan-15 21-Jan-15 Approved 272,000.00 N/A N/A 01 30-Mar-15 30-Mar-15 26-Apr-15 26-Apr-15 267,157.04 Closed
Maintenance of Dewatering System from 15 Jan 02
R8-109 & R8- 18-Nov-15 &
02 15 to 30 Nov 15 (approved PVO is only for 15 Jan 28-Jan-15 29-Jan-15 23-Feb-15 Approved 635,000.00 (Rev. 31-Jul-16 31-Jul-16 9-Aug-16 15-Aug-16 1,416,480.00 Closed
254 15- Apr-15
15 to 30 May 15) 01)
03
Provision of Embedded Base/ Anchor Plates &
03 N/A R8-193 17-Feb-15 (Rev. 25-Nov-15 26-Nov-15 19-Jan-16 25-Jan-16 20,422.30 Closed
Bolts for Covered Tennis Court
01)
04
04 Remaining Excavation Works N/A R8-197 20-Feb-15 (Rev. 28-Feb-16 29-Feb-16 7-Jun-16 15-Jun-16 745,525.11 Closed
02)
05 Changes in FAHU Equipment 18-Nov-15 18-Nov-15 23-Nov-15 Approved 486,914.75 R8-336 28-Jun-15 05 25-Nov-15 26-Nov-15 19-Jan-16 25-Jan-16 486,914.75 Closed
02 & 06
02-Aug-15 &
06 Additional Lifts in Retail Areas N/A HRT.004.2016. (Rev. 11-May-16 12-May-16 7-Jun-16 15-Jun-16 1,377,655.00 Closed
12-April-16
mcb 01)
Total addition for increase of concrete & steel on
07 N/A N/A N/A 07 17-Dec-15 20-Dec-15 17-Feb-16 22-Feb-16 44,000,000.00 Closed
the project.
Changes in Car Park Ventilation System at
08 N/A R8-582 10-Mar-16 08 24-Mar-16 27-Mar-16 14-Apr-16 26-Apr-16 7,795,705.83 Closed
Podium Level 4 & 5
Cost Saving for Client Supplied Light Fittings in
09 N/A R8-605 29-Mar-16 09 29-Mar-16 29-Mar-16 22-May-16 26-May-16 (190,833.00) Closed
Drive Way & Car Parking Areas
Cost Saving for Client Supplied Light Fittings in
10 Back of House and Apartments' Kitchen & N/A N/A N/A 10 16-May-16 16-May-16 7-Jun-16 15-Jun-16 (1,439,229.95) Closed
Bathrooms
Modification for Chilled Water Pipes to Install BTU R8-0559 & 11-Feb-16 &
11 N/A 11 23-May-16 24-May-16 15-Jun-16 20-Jun-16 52,071.19 Closed
meters 0460 04-Nov-15
HLG Overhead & Profit, Attendance and Builders
12 26-May-16 27-May-16 31-May-16 Approved 2,133,101.93 12 28-Aug-17 29-Aug-12 2,155,059.17 DNIC to approve DNIC
Work for Tennis Court
Changes in Sanitary Fittings and Toilet
13 N/A 03 23-Nov-15 13 31-May-16 1-Jun-16 23-Jun-16 10-Aug-16 5,557,418.90 Closed
Accessories in Apartments
Modification of LV Panels and Cable Sizes due to
14 N/A R8-0643 10-May-16 14 3-Aug-16 4-Aug-16 16-Aug-16 18-Aug-16 156,155.16 Closed
Tennis Court Kitchen Requirements
15 Retaining Wall at Outdoor Tennis Courts N/A N/A N/A 15 5-Oct-16 5-Oct-16 16-Oct-16 20-Oct-16 31,674.59 Closed
16
HLG to accept
16 CCTV System as per DPS Requirements N/A N/A N/A (Rev. 2,396,718.54 HLG
the revised value
01)
Relocation of Dishwasher in Apartment No.7 for
17 N/A CVI/A/0004 4-Oct-16 17 6-Feb-17 6-Feb-17 28-Feb-17 5-Mar-17 12,270.83 Closed
Tower 1,2 & 3 for Kitchen Type K4
18 Drain provision for staircase 5,7,8 and 9 N/A TQ - M/0680 10-Mar-16 18 14-Feb-17 15-Feb-17 7-Mar-17 19-Mar-17 8,774.69 Closed
19 Cost saving for façade light and control system N/A R8-0862 5-Feb-17 19 14-Feb-17 15-Feb-17 7-Mar-17 19-Mar-17 (1,400,000.00) Closed
20 MEP works for Basement 2 N/A R8-0164 18-Jan-15 20 6-Mar-17 6-Mar-17 9-Apr-17 26-Apr-17 109,633.88 Closed
Relocation of FCUs in Main Entrance Lobby -
21 N/A Atkins Email 29.03.17 21 9-Apr-17 8-May-17 10-Apr-17 26-Apr-17 55,901.84 Closed
Tower 1,2 & 3
40 of 43
5-Sep-17
Appendix BA2 - Change Management Log

PVO EI VO
DNIC DNIC Next
NEA Issue Atkins NEA Issue Atkins Issue Atkins Issue
No. Description Approved Status Value EI No. Issue Date VO No Approved Value Remarks Action
date Issue Date Date Date to HLG Date to DNIC
Date Date by

Containment for Interfacing the Tennis Court
Atkins confirmation on
22 CCTV & Structured Cabling System to Residential N/A 22 25-Apr-17 8-May-17 25-Apr-17 26-Apr-17 24,583.42 Closed
05.04.17
Towers
Fire Fighting System as per Civil Defense Final
23 N/A R8-0325 15-Jun-15 23 4-May-17 8-May-17 4-May-17 6-May-17 (174,176.70) Closed
Approval
Technical Query ref.
24 Deletion of Penstock Chamber at Ground Floor N/A HLG/628/TQ/M/0765 dated 24 7-May-17 7-May-17 15-Jul-17 10-May-17 (2,507.94) Closed
23.05.17
25 External Bridges at Podium Level 2 N/A R8-0647 12-May-16 25 7-May-17 15-May-17 7-May-17 10-May-17 242,508.02 Closed
26 HVAC & Plumbing Provisions for Retail Units N/A R8-0808 25-Oct-16 26 11-May-17 31-May-17 11-May-17 15-May-17 101,703.66 Closed
27 Toilet Cubicles for Public Toilets in Podium N/A 27 7-Jun-17 28-Jun-17 8-Jun-17 18-Jun-17 78,201.50 HLG to sign HLG
28 Changes in Ceiling Finishes N/A 01 26-May-15 28 28-Jun-17 3-Aug-17 28-Jun-17 2-Aug-17 6,363,084.25 Closed
Power, Fire Alarm Provisions & Data Containment
29 N/A R8-0852 24-Jan-17 29 3-Jul-17 31-Jul-17 4-Jul-17 5-Jul-17 101,254.04 Closed
for Car Park Management System
TQ/E/630 dated 28.12.15 & &
30 Additional data outlet and shaver socket N/A 30 11-Jul-17 30-Aug-17 25,866.08 DNIC to approve DNIC
TQ/E/637 dated 03.01.16
R8-0543 & R8- 25-Jan-16 &
31 Omission of Kitchen Cabinets N/A 31 27-Jul-17 3-Aug-17 30-Jul-17 1-Aug-17 (8,850,149.80) Closed
0684 16-June-16
32 Changes in Ground Floor Hardlandscape Materials N/A R8 - 0878 23-Feb-17 32 16-Aug-17 17-Aug-17 (211,579.90) DNIC to approve DNIC
Fire Hydrant System as per Civil Defense Final

33 N/A R8 - 0325 15-Jun-15 33 22-Aug-17 27-Aug-17 736,387.50 DNIC to approve DNIC
Approval
Total 4 4 4 3,527,016.68 32 28 32 28 62,050,650.00
41 of 43
5-Sep-17
COST REPORT - 41
C - Client's Direct Purchases
42 of 43
5-Sep-17
COST REPORT - 41 C - Client's Direct Purchase
Appendix A - Client's Direct Purchase - Committed Cost
Value -
Value -
No. Description Date Raised Previous Difference Notes
Current Report
Report
Main Works - PO
1 Light fittings in common corridors, lift lobbies and inside apartments except
kitchen and bathrooms (IHS PO No. 201610494 dated 29/03/16) 29-Mar-16 4,400,000.00 4,400,000.00 -
2 Additional FOH Light fittings (IHS PO No. 201710379 dated 13/03/17) 13-Mar-17 20,997.01 20,997.01 -
3 Light Fittings - Back of House and Apartments Kitchen & Bathrooms (IHS PO
No. 201610756 dated12/05/16) 12-May-16 1,439,229.95 1,439,229.95 -
4 LED light fittings in CAR park and drive ways (IHS PO No. 201610428 dated
20/03/16) 20-Mar-16 283,403.00 283,403.00 -
5 Kitchen appliances (Y.K. Almoayy3ed PO No. 201610402 dated 16/03/16) 16-Mar-16 6,690,000.00 6,690,000.00 -
6 Kitchen cabinet and countertops (IHS PO No. 201610177 dated 03/02/16) 3-Feb-16 19,369,573.40 19,369,573.40 -
7 Mock-up - Kitchen cabinet & Kitchen appliances (based on Milele Performa
Invoice dated 30/08/2015 & 11/08/2015 & Finesi quotation dated 21/07/15) 1-Aug-15 72,596.00 72,596.00 -
8 Supply and installation of lacquer cladding (IHS quotation dated 31/05/2016) 31-May-16 1,049,419.00 1,049,419.00 -
9 Supply and installation of shower glass partition (Decolab PO No. 201611219
dated 04/08/16) 4-Aug-16 1,690,676.99 1,690,676.99 -
10 Water Features at entrance lobbies of Tower 1,2 and 3 (As per Newtech Pools
LLC PO ref. 201611856 dated 08/12/16) 8-Dec-16 105,000.00 105,000.00 -
11 Penthouses swimming pools at Tower 1,2 and 3 (As per Newtech Pools LLC
PO ref. 201611857 dated 08/12/16) 8-Dec-16 2,075,000.00 2,075,000.00 -
12 Additional SS light fitting for Penthouses swimming pools at Tower 1,2 and 3
(As per Newtech Pools LLC PO ref. 201710708 dated 09/05/17) 9-May-17 94,500.00 94,500.00 -
13 Supply of Landscape Light Fittings (IHS PO No. 201611894 dated 14/12/16) 14-Dec-16 900,000.00 900,000.00 -
14 Façade Light and Control System (IHS PO No. 201611963 dated 29/12/16) 29-Dec-16 1,400,000.00 1,400,000.00 -
15 Duct arrangement for 14 HV Cables from SS to Tower SS (As per Total 20-Feb-17 351,600.00 351,600.00 -
16 Payment for DEWA water meter (As per HLG letter ref. 1093 dated 06/06/2017) 31-May-17 1,218,235.00 1,218,235.00 -
Tennis Court - PO
17 Indoor & Outdoor tennis court works (As per Raymond Sport LLC PO No.
201610525 dated 04/04/16) 4-Apr-16 948,875.00 948,875.00 -
18 Gym Equipment for Tennis Court (As per Deltatrade PO No. 201610676 dated
28/04/16) 28-Apr-16 130,000.00 130,000.00 -
19 Supply and installation of kitchen appliances for tennis court (As per Sofia
Refrigeration PO No. 201610892 dated 05/06/16) 5-Jun-16 244,999.95 244,999.95 -
20 Soil backfilling - Tennis Court (As per Raymond Sport LLC PO No. 201611121
dated 14/07/16) 14-Jul-16 98,000.00 98,000.00 -
21 Fire Suppression System (As per Sofia Refrigeration PO No. 201611022 dated
26/06/16) 26-Jun-16 29,500.00 29,500.00 -
22 Supply and installation of dumb waiters for tennis court (As per NASCO PO No.
201611029 dated 28/06/16) 28-Jun-16 82,000.00 82,000.00 -
23 Grabo Sport Flooring (As per Delta Trading PO No. 201610895 dated 02/06/16) 2-Jun-16 20,155.00 20,155.00 -
24 LPG gas system for tennis court (As per Al Fanar National Gas Service PO No.
201611290 dated 18/08/2016) 18-Aug-16 44,709.53 44,709.53 -
25 ICT system of tennis court to comply with DPS requirements (As per Qickdata
PO No. 201720097 dated 18/01/17) 18-Jan-17 85,000.00 85,000.00 -
26 Supply and installation of additional CCTV camera (As per AHG email dated
29/03/2017) 19-Mar-17 2,145.00 2,145.00 -
Tennis Court - Client's Direct Payments (M/s Canadian Gulf Scope of

Works)
27 Tennis Court Works (Accepted Contract Amount) 21-Feb-16 15,800,755.00 15,800,755.00 -
28 VO No. 01 - Variations Related to Tennis Court 28-Feb-17 316,080.28 316,080.28 -
29 VO No. 02 - Adjustment for ICT Provisional Sum 13-Mar-17 (153,434.05) (153,434.05) -
30 Grease trap for tennis court 135,520.00 135,520.00 - As per CGC
Total Carried to Cost Breakdown (B2.1.5) 58,944,536.06 58,944,536.06 -
Note: 1. Client's direct purchase is based on the information available with NEA.
2. M/s Canadian Gulf is HLG nominated Subcontractor for Tennis court works. However, all cost associated with M/s Canadian Gulf is considered above as the
Employer is making direct payments to them.
43 of 43

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AL HABTOOR CITY –

COST REPORT NO. 41

DUBAI NATIONAL INVESTMENT CO. LLC

05th September 2017 Rev.00

1 Executive Summary 2-4

2 Flash Summary 5-6

3 Project Contingency Expenditure 7

4 Notes and Exclusions 8

Package A Piling and Enabling Works 9

Package B Main Works 21

C Client's Direct Purchase 42

1.0 Executive Summary

1.1 Current Position

The total committed and anticipated final cost summary is as follows:-

Budget Amount Current Report Variance Remarks

Sub-total Committed Cost (CC) 1,538,815,657.00 1,657,162,528.18 118,346,871.18

A Piling & Enabling Works - - - Refer to page No.11 for details

Sub-total Uncommitted Cost (UC) - 29,953,196.55 29,953,196.55

Total Anticipated Final Cost (CC + UC) 1,538,815,657.00 1,687,115,724.73 148,300,067.73

1.2 Current Movement in the Period

Previous Report Current Report Variance Remarks

Sub-total Committed Cost (CC) 1,654,482,661.41 1,657,162,528.18 2,679,866.77

A Piling & Enabling Works - - - Refer to page No.12 for details

Sub-total Uncommitted Cost (UC) 32,633,063.32 29,953,196.55 (2,679,866.77)

Total Anticipated Final Cost (CC + UC) 1,687,115,724.73 1,687,115,724.73 -

1.0 Executive Summary (cont'd)

Overview - Piling & Enabling Works

Overview - Main Works

1.0 Executive Summary (cont'd)

• Possibilities of negative payment certificates to HLG due to above recoveries.

Certified (As per PC No.49

Advance Payments (AP) - HLG 195,000,000.00 119,498,692.34 (75,501,307.66)

2.0 Flash Summary

CHANGE MANAGEMENT NO. ENTRIES

PILING & ENABLING PACKAGE MAIN WORKS

PAYMENT CERTIFIED - MAIN WORKS

Gross Value of Work done as of 31 July 2017 (A) 911,448,515.20

Certified Payments (Based on Payment Certificate No. 49 - July 2017)

2.0 Flash Summary (Cont'd)

CASHFLOW (FORECAST/ACTUAL) - MAIN WORKS

(Refer to Page No.37 for details)

Cumulative Value (Secondary Axis)- Millions

3.0 Project Contingency Expenditure

To be advised by the Client.

4.0 Notes & Exclusions

4.1.1 The following abbreviations are used within this report:

AFC - Anticipated Final Cost

4.2.1 Design team professional fees

4.2.2 Other consultant professional fees

4.2.3 Other direct Client appointments

4.2.4 Land cost

4.2.5 Marketing cost

4.2.7 Client finance costs

4.2.8 Client general overhead costs

4.2.9 Authority fees

4.2.10 Interior and relevant MEP works of Penthouses

4.2.11 Other project related costs not highlighted above

Package A - Piling & Enabling Works

Client: Dubai National Investment Co. LLC

Engineer: WS Atkins & Partners Overseas

Contractor: Al Habtoor STFA Soil Group LLC

Type of Contract: Re-measured

Accepted Contract Amount: 88,815,657.00 AED