Q12.6 - Are any developer or management fees paid before full repayment of the bonds? - FAQ
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Q12.6

Are any developer or management fees paid before full repayment of the bonds?

Advanced Follow-Up Questions 20/01/2026
No. No developer or management fees will be paid prior to full repayment of the bonds.

This principle is not just a contractual commitment—it reflects the developer’s longstanding practice:
Since the inception of the project, no management, promotion, or developer fees have ever been taken.

All available resources have been—and will continue to be—allocated to land acquisition, infrastructure development, and value creation for future stakeholders, including bondholders.

This alignment of interests is central to our approach and to the credibility of the project.
Autres questions dans "Advanced Follow-Up Questions"
Q12.2

How are ESG (environmental, social and governance) aspects managed?
Q12.3

What is the target investor profile for the bonds?
Q12.4

What additional information will be available in the final documentation?
Q12.5

What is the exact amount of cash equity invested by the sponsor to date (excluding land valuation)?
Q12.6 Actuelle

Are any developer or management fees paid before full repayment of the bonds?
Q12.7

Are there step-in rights or protective clauses allowing investors to replace the developer in a severe underperformance scenario?
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