Returns That No Single Asset Can Match
The programme's 31.4% integrated IRR reflects the compounding effect of operating tourism, energy, financial services, and digital infrastructure within a single concession. Energy costs that tourism operations typically absorb become programme revenue. Financial services infrastructure that serves the island also serves the broader SEZ economy. The parts are worth more together.
Four Streams. One Ecosystem.
Revenue is projected across four streams: accommodation at 35%, food & beverage at 25%, retail at 20%, and financial services, technology, and other at 20%. The 40% year-round resident base reduces the seasonal dependency that undermines most island destination models — providing a stable revenue floor beneath the tourism upside.
Strong Even Under Pressure
The financial model has been stress-tested at -10% demand and +20% cost sensitivity. Under this scenario, the downside IRR holds at 12.1% and the debt service coverage ratio at 1.44x — well above conventional lender thresholds. The SEZ incentive package alone contributes an NPV benefit of approximately US$320 million, adding 4.9 percentage points to the blended IRR.
Access the Full Financial Model
Detailed financial documentation is available to qualified investors under NDA.