The entire journey is referred as the Investor Road Map and the main stages are described below. The Investor Road Map is intended to provide guidance to the Investor to expedite the overall process.
The Investor is to express his interest in leasing a land within SPARK by sending a letter of intent (LOI), via e-mail ([email protected]), indicating its basic requirement: land size, type of activities and timing. Accordingly, SPARK representative will assist the Prospect in completing and submitting a Land Allocation Form (LAF). Upon approval of the application by SPARK, a lease agreement will then be prepared and signed between SPARK and the Investor allowing him to proceed with the pre-design phase.
Upon signature of the Provisional lease, the Investor is required to Hire a Consultant / Designer from the list of approved one (refer to the MODON list, Link below) and inform SPARK accordingly. A Kick-off meeting will be organized with all the stakeholders to confirm the understanding of the design requirements as well as the development program. At this stage, the Investor will be allowed to temporary access his Plot to perform only the surveys needed for his design stage (geotechnical, physical etc…).
This stage is composed of the Concept Design followed by the Detail Design. The Concept Design shall include the overall layout, concept of all buildings, landscape, utilities, parking and all amenities required in line with SPARK Design Guidelines. The Investor is required to present to SPARK its Concept Design during a formal presentation. It is imperative to obtain the formal approval from SPARK of the Concept Design, followed by MODON, prior proceeding with the detail one. Once the Detail Design is approved, the Investor may proceed to the next step of his journey.
The approval of the Detail Design will trigger the signature of the Final Lease Agreement by all parties and submittal of the Construction Permit. At this stage, the Investor shall obtain and submit to SPARK all the required licenses from the governing authorities in order to be issued the Construction Permit. This includes but not limited to: final industrial license, environmental assessment, Food and Drugs authorities’ license etc…
The Construction Startup is conditional of the appointment of the Site Consultant as well as obtaining the Construction Permit. As per the Design Consultant, the Site Consultant shall be approved by MODON. During Construction, SPARK will undertake several Hold Point Inspections that need to be successful to proceed with the subsequent activities. This is an addition to the inspections performed by the Site Consultant. Prior construction completion, the Investor shall submit to SPARK its Final Industrial License. Once the construction is completed, all the inspections shall be collected, packaged and submitted to SPARK. Accordingly, the Investor will proceed with the next step.
At the initial stage of the Occupancy process, the Investor can request the launch of the utilities and proceed with the internal testing and commissioning of its facility. The as-built shall be prepared as part of the testing and commissioning process. Upon issuance of the completion certificate by the Site Consultant, a final walkthrough with SPARK TFM provider and MODON will be organized. All comments raised by the Stakeholders shall be implemented satisfactory until issuance of the approval certificate. The Occupancy Certificate will then be issued which will allow the commencement of the operation.
Feel like you are Interested on Investing with SPARK! Fill in the below form