05Investor Instrument

Capital sequenced
to delivery triggers.

Four tranches, A through D, sized to the Master Entity's phased delivery. Triggers are disclosed. Sequencing is honest. Returns are scenario-modelled, not promised.

05.ACapital tranches

Tranches sized to phases.
Each release tied to occupancy.

PHASE A · TRANCHE 1
$4.2B
2026 — 2031

Yafour ground.

  • BRT S1–S2
  • Education + innovation campus
  • Trunk infrastructure
  • Belt easement registration
  • Heritage-survey baseline
PHASE B · TRANCHE 2
$5.8B
2031 — 2037

Digital + healthcare.

  • Kafr Qoud · 110 MW data centre
  • Al-Baja · 720-bed hospital
  • BRT S3–S5
  • DFI co-investment unlocks
  • Trigger: Phase A occupancy ≥ 70%
PHASE C · TRANCHE 3
$7.4B
2037 — 2044

Civic core consolidates.

  • Al-Qurain T6 · library, museum
  • As-Salboura agri interface
  • Ras Al-Ain · spring-source park
  • BRT S6–S12
  • Trigger: Phase B occupancy ≥ 70%
PHASE D · TRANCHE 4
$3.6B
2044 — 2050

Eastern terminus.

  • Qatana · renewable energy
  • Belt completion
  • BRT S13–S14 (closure)
  • 1M residents at maturity
  • Trigger: Phase C occupancy ≥ 70%
05.BCapital flow architecture

Master Entity discipline.
No anchor finances alone.

SOVEREIGN ANCHOR $8.4B · 40% DFI CO-INVEST $5.3B · 25% PRIVATE INSTITUTIONAL $4.2B · 20% DIASPORA + DOMESTIC $2.1B · 10% RESERVE $1.0B · 5% Keturah Master Entity CAPITAL DISCIPLINE · TRIGGER GATING SOLE COUNTERPARTY · SINGLE BALANCE SHEET Phase A $4.2B · YAFOUR Phase B $5.8B · DIGITAL + HEALTH Phase C $7.4B · CIVIC CORE Phase D $3.6B · TERMINUS TRIGGER · A ≥ 70% TRIGGER · B ≥ 70% TRIGGER · C ≥ 70% SOURCES RELEASE GATES
05.CScenario returns

Returns are scenario-modelled.
Not promised.

Three scenarios. Stress, base, and stretch. The trigger structure means downside is bounded by what's actually delivered. Tier badges remain on every figure.

Scenario Phase A IRR Blended IRR · 24-yr Cash multiple Capital at risk · A Tier
Stress 8.2% 9.4% 2.1× $4.2B T3
Base 11.8% 13.2% 3.0× $4.2B T3
Stretch 15.4% 16.9% 4.2× $4.2B T3

All scenario figures are Tier 3 stated assumptions. Capital at risk reflects Phase A tranche only — subsequent tranches gated by occupancy triggers.

05.DInvestor rights

Six rights, written into the instrument.

05.EFive Investment Packages + BRT Spine

Five packages, sequenced.
Plus the BRT spine — its own deal.

Capital can enter at the package level — not only at the phase level. Five core packages (~$8.8B, ex-BRT) plus the BRT spine (~$4.8B) as a separable infrastructure deal. Each row below has its own risk profile, return logic, and counterparty fit.

ID
Package
Phase
Cost
Focus
P1
Civic & Mobility Anchor
A
~$2.1B
BRT Station 7 hub, civic plaza, T6 mixed-use seed.
P2
Knowledge & Innovation
B
~$2.0B
Retail, hospitality, premium residential, innovation district.
P3
Residential Mid-Density
B
~$1.5B
Townhouses and courtyard fabric, district schools and clinics.
P4
Agricultural Buffer
A / B
~$180M
Easement registration, agritourism, wadi restoration. Belt-protection capex.
P5
Services & Institutional
B / C
~$3.0B
Schools, hospitals, cultural and civic facilities.
BRT
BRT Spine · ITDP standard
A — D
~$4.8B
28 km dedicated right-of-way, 14 stations, depots, rolling stock.
05.FFive Phases · Sponsor → Maturity

Five phases. Twenty to thirty years.

0
YEARS 0 — 2

Sponsor stage.

Sanctions review, land acquisition, studies. Pre-construction discipline.

~$5–10M
A
YEARS 2 — 5

First ground.

50,000 residents · 12,500 DU · BRT spine breaks ground.

~$4.2B
B
YEARS 5 — 12

Backbone.

250,000 residents · 64,500 DU · full infrastructure backbone.

~$5.8B
C
YEARS 12 — 20

Corridor expansion.

600,000 residents · 155,000 DU · civic core consolidates.

~$7.4B
D
YEARS 20 — 30

Completion.

1,000,000 residents · 258,000 DU · belt closure · BRT terminus.

~$3.6B
05.GProgramme Return Metrics

Beyond IRR — programme-level returns.

AI PLATFORM · YEAR 1
~$471K
YEAR-1 OPERATING COST

Strategic Intelligence Hub year-one operating cost. Return multiple modelled at >2,000× against value-at-risk avoided through evidence discipline. T0

YEAR 20 GDP CONTRIBUTION
$8 — 12B / YR
ANNUAL · AT MATURITY

Annual GDP contribution at Year 20. Range reflects scenario sensitivity. T0

GDP UPLIFT vs CURRENT
70 — 100%
YEAR 20 · vs CURRENT SYRIAN GDP

One corridor at maturity contributes uplift equivalent to ~70–100% of current Syrian GDP. Programme-level, not deal-level. T0

TAX-REVENUE BREAK-EVEN
12 — 15YRS
SOVEREIGN BREAK-EVEN

Cumulative corridor tax receipts cover sovereign commitment between Year 12 and Year 15 in the base scenario. T0

05.HRequest diligence

Controlled distribution.
Verified counterparties only.

Diligence access is granted to verified institutional counterparties — sovereign anchors, DFIs, and qualified private institutional investors. We confirm receipt within 72 hours and respond with a counterparty review within 10 business days.

DATA ROOM CONTAINS
  • · Master plan + 13-layer atlas
  • · Hydrology baseline + sub-basin model
  • · Heritage register · 12 sites cleared
  • · Cadastral cross-check · 13,010 ha
  • · Tenure registry · 4,210 households
  • · Capital model · IFI-comparable build
  • · Tranche structure + trigger framework
  • · Belt easement covenant · perpetual
  • · DFI engagement record · indicative
  • · Advisory committee charter · draft

Sends to marketing@mag.global · response within 72 hours · NDA before data-room access.

JURISDICTIONGoverned by applicable jurisdictional law of the Master Entity.
NOT AN OFFERThis document does not constitute an offer to sell or solicitation to buy securities.
QUALIFIED ONLYDistribution restricted to qualified institutional and equivalent counterparties.
FORWARD-LOOKINGScenario figures are Tier 3 — stated assumption with disclosed sensitivity.