Kish Free Zone Organization

Olympia Restaurant


Olympia Restaurant

A- Project Introduction

1. Project title: Construction the Olympia Restaurant

2. Sector: Services Sub-sector: Tourism

3. Products / Services: Serving a variety of Iranian traditional food, Italian food, Sea food, Barbecue and Fast food

4. Location:

Free zone  Special Economic Zone  Industrial Park  Main location

5. Project specifications
This project is for construction of a restaurant complex near Olympia sports complex. Due to some certain advantages like existing potentials in terms of climate, access facilities and no need to visa as well as price advantages, Kish Island can be converted to a tourism-sports pole in the area. In this
direction, establishing a well-equipped restaurant with ability to fulfill some certain food menus for sport teams as well as other people attending Olympia restaurant is essential. This complex includes a -4storey building. There will be fast food and coffee shop on the roof with moving roofs and barbeque, Iranian traditional restaurant, sea food restaurant and Italian restaurant
will be respectively placed in floors 1 to 4. Installations and warehouse will be placed in underground. A property with an area of 1000sqm is considered for this project that 675sqm of that area belong to the buildings and the rest to green area and yard
The project provides jobs for 58 people and its annual capacity is more than 20,000 customers.
6. Annual Capacity: More than 20,000 customers per year
7. Land requirement: 1,000Sq.m
8. Land ownership: The land of this project belongs to the Kish Free Zone Organization that can be
leased to investors.

9. permissions:
The permissions for any type of authorized economic activities in Kish free zoon are issued only by Kish Free Zone Organization. Meanwhile, if a plan needs to any other license and permits from
other competent authorities, the organization of zone will send the inquiries and the investor is only obliged to follow this subject
10. Construction and operation period:

The construction project will be done in 1 years and the operation phase is 15 years.
11. Target market:

Tourism is one of the main strategies for development of Kish Island. Kish tourism capabilities such as a beautiful sea and beach, its pleasant climate in cold half of year, appropriate residential facilities and its unique situation in Persian Gulf near the main land fall among the strategic advantages for
developing tourism in the island. Development of tourism infrastructures in the island in the recent years, has promoted the potentials for development of Kish Island. Significant progress of the tourism development plans in Kish has put this zone into the spotlight as a good pattern for development of this industry across the country. The statistics and figures
testify that just within a relatively short period, procedure of passengers entering Kish has shown a significant increase while residential and sightseeing capacities there have been promoted. Such significant promotion in procedure of passengers entering Kish in the recent years clearly indicates success of the organizations in charge of seeking tourists who travel to the island for the purposes of sightseeing and enjoying their leisure times. Rate of growth of passengers entering in the
recent years has been over %10. Presently, over 1.5 million tourists travel to this island every year and it can be predicted that this number will reach 3 million per year in the 5 coming years.
12. Access to Infrastructures:

Distance to project locationInfrastructure requiredtem
At the siteWater1
At the siteElectricity2
At the siteTelecommunication4
At the siteThe main road5
380kmRailway station8

B- Financial structure:
13. Cost and benefits

USD $ 2.7 millionCapital expenditure
USD $ 2.6 millionOperating Revenue
USD $ 0.7 millionOperating cost

14. Financial index

USD $ 2.0 millionNet benefit
2.4Benefit–cost ratio (B/C()
2.0 YearsPayback Period

15. Economic index

USD $ 6.4 millionNet present value (NPV)
58 %Internal rate of return (IRR)
10 %Break-even point

16. Methods of participation:
For this project, investor may proceed with individual investment by obtaining necessary permits
or undergo partnership with Kish Free Zone Organization for carrying out project through various partnership models
C- Incentives, features and advantages of the project:

17. Incentives:

• Simplified formalities for re-export and goods transit
• Tax exemption and the benefits of accessing to foreign
• 20year tax exemption for any type of financial business
• Preferential rates of land to build hotels and recreational tourism places.
• Customs duties exemption to imports raw materials and industrial machinery of the production
•No restrictions on entry and existence of the exchange currency on any amount and the possibility
to transfer money to foreign companies.
18. Support and legal advantages:

• Foreign nationals’ entrance with no visa
• Legally protecting and ensuring foreign investors.
• Registering company with 100 percent foreign ownership
• Have the right of entry and exit the capital and the profits
19. Special and unique benefits of the region:

• Having access to the international free waterways
• Having an energy source (gas) independent of the mainland
• The ability to transit goods to neighboring CIS countries and Iran
• High level of security and social peace and low levels of social disorder
• A harbor with the ability of berthing vessels with 12,000 tones capacity.
• Exporting products to foreign countries without paying customs and harbor duties
• International Securities Exchange activity and oil and petrochemical products stock
• Having good optical fiber network and an independent private mobile network privileges
• Having an independent airline and shipping lines with the possibility of transporting vehicles