Dear Sir,

Some questions for Westend Properties/Gencom:

1, Does Westend Properties really believe that the special development order has been scaled back by reducing the number of units from 261 to 250. I thought it was a typo!

2, Why has the split between residential and tourism units changed so much? Were the numbers wrong before? (Originally 114 tourism, 147 residential. Revised to 159 tourism, 91 residential.) What is the justification for this? Just so the design can be changed? Why the need to “rebalance”.

3, Why is the 2009 SDO, which approved 130 units — 71 tourism, 37 residential, 22 townhouses — not still valid. Can we have an explanation?

4, Is it projected that the hotel will be profitable as a stand-alone entity? I understand it was in the past. If so, what return is budgeted?

5, What return on its investment is Gencom looking for, and in what timescale? Is this reasonable? Who determines this?

6, It would seem Karim Alibhai’s eye for a deal and risk-taking are clearly reflected in this project?

7, Why has the contract for the hotel renovation not yet been signed? Supposed to be signed by Christmas; it is now July. Does it depend on SDO approval?

8, Increasing construction costs and capital market costs are mentioned as problems. Can we have some figures to support this?

9, Gencom has submitted an SDO for the beach club, which also includes tourism units. Keep an eye on this.

ANTHONY PRENTICE

Smith’s