BITRACE INVESTMENTS LTD is a British investment company based in London, UK, which is a member of KJ Holdings Corp. The company is in process of developing the Tunisia Racing F1 City project, this project consists in building an integrated sports compound including a Formula 1 Track surrounded by top-class hotel and recreational units: (Total Assigned Land: 300 Hectares) in Hammamet, Tunisia.
Project Description This project consists in building an integrated sport compound including a Formula 1 Track surrounded by top-class hotel and recreational units:
1 Fully Equipped race Formula 1 circuit
1 Karting
1 Museum
1 International Exhibition Centre
4 Tennis major Stadium
1 International Golf Course
1 Football Stadium
2 Hotel 5-stars
1 Hotel 7-stars
8 International Restaurants with different cuisines
Beach facilities including various Beach Clubs
1 Techno-park
4 Major Chalets / VIP Palaces
60 Sea-Side Villas
240 Twin Villas with view over the Golf
600 Apartments with sea-view, view over the Golf, and / or Mountains
1 Major International CASINO
1 Major Shopping Mall
25000 Parking lots oGreen Area& Gardens
For more detail please see (Annex3).
Market Problem:
There is a global deficit of circuits worldwide and mainly in Europe, due to the deterioration of most of the existing circuits. Moreover, circuits that can be used by the industry must be located in the south to be operational for a maximum period of time during the year.
The availability of a motor circuit is likely to give more buoyancy to the economy and boost the country with the establishment of a high-tech industry thanks to the new sport's concept. Indeed, so many well-off people around the world will make it to attend or take part in the Formula One Grand Prix. This event shall stand as an excellent opportunity for Tunisia and for the authorities in charge of development to tap into the presence of big decision-makers and advertise the country's economy opportunities.
Solutions for market Problem:
1 - Solution for High F1 Hosting Fees :
Negotiation of the Hosting Fees with the F1 Group: The negotiation of the Hosting Fee with the F1 Group is essential, in order to have a price that does not exceed the 15 million US $ and to be able to introduce the F1 to the African continent and in the Maghreb region more specifically. Monaco does not pay hosting fees, Italy pays US $ 7 million and Canada pays US $ 18 million.
2-Solution for No participation of the Government in the payment of the Hosting Fees. Participation of the Tunisian Government with the Land (300 Hectares) and infrastructure costs.
3 - Solution for Revenues generated only from the sales of F1 Grand Prix tickets. We plan to integrate the F1 Circuit into a sports complex that will hold several competitions during the year and to introduce value-added products to the F1 City (hotels, casino, shopping mall ...) in association with the sale of villas and apartments.
Market Opportunity
The following features make of Tunisia the ideal place to host major international events:
It is located at three hours in average, from the European capital cities and this Incentives Code.
A skilled staff with an amazing capacity to quickly master new technologies, looking for innovation within all its aspects.
In Tunisia, the manpower, the raw materials and the low cost of the Tunisian dinar will be important factors that will ensure the construction of F1 Circuit at 145 million US $.
Khaled Akid is an experienced Entrepreneur who brings over 25 years experience in Technology, Finance and Business Administration.
He is presently President & Chairman of KJ HOLDINGS CORP, Chairman of the Board of PM&E Inc. (OTC: PMEA) and of SEILON Inc. (OTC: SEIL) and President & Chairman of KJ Holdings Corp. in Calgary.
He has held various executive positions in sales and management at technology and telecommunications companies across Europe and the United States i.e. President & CEO of Amitelo AG in Zurich / Switzerland, Executive VP of GNT Global Network Telephone in Frankfurt / Germany, Sales Director of CATEL Telecom AG in Frankfurt.
He has been the founder of several Start-up companies across Europe, Africa and the Middle East, to name a few: GlobalNET Beirut, MIDNET Beirut, SUN Telecom GmbH Frankfurt, SUNTEL Casablanca, Amitelo AG Zurich, and Yatinoo in Boston.
He has succeeded several listings of his own founded companies on several stock exchanges on the OTC Market, OTCBB and on the Entry Standard, Frankfurt Stock Exchange. He was instrumental in achieving record annual growth for GNT with sales of 5 million growing over 57 million Euros within 2 years of time. Khaled Akid spent 7 years with the U.S. Department of Defense and its U.S. Contracting Command in Europe, where he managed procurement of $30 millionUSD in Augsburg.
Khaled Akid was educated at the ISG Institut Superieur de Gestion in Tunis / Tunisia and both the U.S. Army Defense Management College in Fort Lee, New Jersey and the U.S. Air Force University of Technology in Ohio. He speaks fluently Arabic, French, English, German and basic Spanish
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