SKYLOUNGE WINTER EDITION 2022-2023 ROYALE

SKYLOUNGE ‫مجلة على العقارات وإدارة الثروات‬ From Frankfurt to the World: A Leader with Global Reach In Conversation with Christian Nuehlen Founder & CEO Aircraft Finance Germany PROPERTY INVESTMENT SPECIAL PRIVATE WEALTH United Kingdom Portrait Aircraft Finance Germany Malaysia - Labuan IBFC Turkey I Austria Buying Property as a Foreigner Asia’s Premier Int’l Financial Hub



Front cover Christian Nuehlen Global Editor-in-Chief & ‫مدير التحرير‬ Publishing Director Marisa Zahra Ramirez Advisor Real Estate USA ‫العقارات الاستشارية‬ Patricia Garza Audience Development ‫مشاركة الجمهور‬ Elizabeth Rodriguez Editor’s Note Middle East Correspondent ‫الشرق الأوسط‬ As another year draws to a close, I find myself looking back on Hamza Lahlou some moments from 2022 with fond memories. It’s been wonderful to see some of the old practices return in a way that, at South East Asia & Indian Ocean ‫جنوب شرق آسيا‬ times during the pandemic, seemed impossible: in-person get- Avinay Soomaroo togethers and a sense that we have made it through he challenge of a generation, that’s not to say that there aren’t tough times Executive Assistant ‫تطوير الأعمال‬ ahead (there are undoubtedly) but there is also a great deal to Zahra Lamrani look forward to. Production ‫مدير الانتاج‬ Keep your eye out for further exciting announcement in the new year. But for now it's all eyes Nazha Belhaj on this winter edition 2022/2023 which has plenty to keep you delighted and inspired for the months ahead. Art & Design Advisory ‫تصميم فن الصورة‬ Vanessa Gutierrez ‫تكنولوجيا المعلومات‬ Buying and selling aircraft, and we mean any aircraft from a 8 seater private jet to a big Airbus A320; an industry we haven’t covered yet and therefore very honoured to speak with Christian IT & Creative Media Nuehlen, Founder & CEO of Aircraft Finance Germany, one of the leading companies in Amar B. K. III commercial and business aviation. Martin Kahlert We round up some of the UK’s best real estate investment opportunities brought forward by Business Development ‫تسويق‬ Select Property Group. Since 2004, Select Property Group has been developing, selling and Indre Vasiliauskaite managing the finest property investments in the highest-performing cities of the UK. We continue our real estate journey with a short trip to Vienna and then off to Izmir & Çeşme Founding Editor ‫الناشر والمدير العام‬ located at the Aegean Sea of Turkey. Dr. Khalid Ben Amar Lastly, our travel journalist suggests to head to Lake Tahoe and if that is not enough we head Index further south to Los Cabos in Mexico, you won’t want to miss out… Published by Enjoy our latest issue and on behalf of our SKY team, KBA we wish you a Happy New Year 2023. KBA Enterprise Limited Yours sincerely, Weller House, Suite F 60 Longbridge Road IG11 8RT Barking - Essex Greater London United Kingdom www.skyloungeonline.co.uk Email: [email protected] Representative offices: Dubai - Abu Dhabi - Casablanca - Monterrey/MX Paris - Marrakech - Houston/TX - Los Angeles Marisa Z. Ramirez SKYLOUNGE Every possible effort has been made to ensure that the information presented in this publication is accurate at the time of going to press and the publishers, editors, contributors and advertisers can accept no responsibility for any errors or omissions. No part of the magazine, including text, photographs, illustration, advertising layouts or other graphics may be reproduced in any way without prior written consent of KBA Enterprise Ltd. The views expressed in this magazine are not necessarily those of the publisher who accepts no responsibility for any loss incurred due to reliance on the information provided in this publication. SKYLOUNGE is a trademark of KBA Enterprise © 2022 KBA Enterprise Ltd.

Highlights Buying and Selling Aircraft Company portrait of Aircraft Finance Germany Bespoke Rehabilitation in Texas The team of J. Flowers Health Institute Edgewood Tahoe Resort High Heaven in Lake Tahoe/Nevada Where East meets West The Louvre Abu Dhabi

Cabos San Lifestyle Management & Lucas - Mexico Concierge Services The Waldorf Astoria Portrait 48 London Pedregal Top Real Estate Opp UK Select Property Group’s launch of One Port Street in Manchester Enchantment pure One of a kind Resort in Sedona - Arizona Real Estate Turkey with Aegean Locations



No perfect life, just perfect moments www.skyloungeonline.co.uk









 We make Aircraft Deals happen  SKYLOUNGE portrait of Aircraft Finance Germany, a leading firm in commercial and business aviation.



Q&A with Christian Nuehlen Christian Nuehlen CEO & Founder Aircraft Finance Germany GmbH 1. Your company has become one of the leading companies in commercial and business aviation solutions, please tell us a bit more and what makes your company so special ? Since its inception in 2017, AFG has grown rapidly – despite a more than 2. Two years into the pandemic, the market has finally regained challenging market environment. I attribute our success to a number of traction, the current global commercial aircraft market size is core principles that we adhere to at AFG: valued at around $ 150 billion, and is projected to reach $ 300 + billion by 2030 - what is your take on the outlook and where do you Empower your people. We have great trust in our colleagues at AFG. Their see your company in 5 years ? industry experience and market relationships are second to none. The team at AFG has grown to more than thirty dedicated aviation professionals that I strongly believe that the long-term outlook for our industry is very strong. work tirelessly to provide the best solutions for our investors, customers Many commercial airline markets are almost back to pre-pandemic levels in and partners. terms of capacity offered and passengers carried. Air freight is still going strong, albeit not any more at the extremely elevated levels we saw during Be ethical and professional. At AFG we have implemented the highest the height of the pandemic. And corporate and VIP aircraft are hot assets standards when it comes to compliance, know-your-customer with great value retention and marketability. requirements, and transparency in our transactions. Consequently, we We are constantly exploring opportunities and we believe our business approach every project with the highest levels of professionalism, which in model and nimble approach works well in the current environment. We turn forms the basis for successful transactions. have adapted quickly with our team and see potential transactions everywhere in the market – even in today’s challenging world. Provide solutions. When we buy or sell aircraft, we often solve a problem for the previous or the next owner. In some cases, for example, an airline Consequently, we might suffer from over-capacity and will look at AFG to reduce the number approach every project of aircraft in their fleet. On the flip side, an airline might desperately need with the highest levels to increase or replace capacity and will look at AFG to offer appropriate of professionalism, aircraft solutions. which in turn forms the basis for successful Love what you do. We are all aircraft nerds at AFG, and it shows in our daily transactions. activities. We can draw on a wealth of experience, knowledge, industry relationships and know-how. Everybody at AFG has airline operational  experience and, thus, can easily appreciate the challenges airlines face when it comes to the management of their respective fleets. Be lean and flexible. We are fast decision-makers at AFG. Decades of experience empowers us to judge quickly if an opportunity is worth pursuing or not. We will always be flexible in our approach to transactions and always attempt to close transactions in the most time-efficient manner possible. Be at the forefront of Information Technology. AFG made the very conscious decision to establish an IT infrastructure that is industry-leading and based on cloud computing and Cisco Jabber Telecommunications. This has enabled our global team to work together even during the most challenging times of the pandemic where our offices had to be closed for extended periods of time. Our team now spans the globe from North- and South America to Europe, the Middle East and Asia. The efficient way we communicate at AFG is a direct result of this investment. Team members are able to seamlessly communicate and work across different time zones in order to close deals successfully.

3. Your company plays a leading role in freighter aircraft 5. Finally: Gulfstream G650 or Falcon Dassault 8X? solutions - if you can elaborate on that a bit? Both aircraft types are amongst the top-heavy jets you choose between Air Cargo & Freight is a key growth area for AFG. In recent months we as a buyer of long-range business jets. The G650 has 400 nautical miles acquired four Airbus A330 freighters from Qatar Airways and two Boeing more range in full passenger mode or 5,900 nautical miles versus 5,500 747-8 freighters from Saudia Cargo to provide just two prominent nautical miles for the F8X. On the other hand, the G650 has higher Direct examples. Both of these transactions played a significant role in the air Operating Costs (DOC), $700,000 per annum for the G650 versus cargo industry during the height of the pandemic, and we are proud of $560,000 for the F8X. This is mainly driven by the higher fuel our contributions in this area. consumption of the G650, although only 2 engines versus 3 engines on We are actively working in the Passenger to Freighter Conversion (P2F) the F8X, with 485 gallons an hour, respectively 364 gallons an hour. markets and see this continuing as a bright spot in our industry. In 2022, Furthermore, the maintenance cost per hour is higher for the 650 with we converted our first two Boeing 737-800s with Boeing and will induct $1,500 compared to $1,200 for the F8X. an Airbus A330-200 for conversion in 2023. The P2F market will be the Cabin wise, both aircraft offer high end products, and it really depends main driver for freighter aircraft in the coming years. A combination of a on the customer’s preferences and requirements. There are 159 G650s in lack of production freighters, old age of existing freighter aircraft and operation and together with the G650ER there are an even higher new demand will drive the market. number of 501 compared to only 83 units for the F8X. Both aircraft types are challenged by their successors – the G700 and F10X as well as by the 4. How has been your experience with the GCC so far ? Global 6000, G6500 & G7500 by Bombardier. Consequently, the future residual value performance of both types needs to be questioned and Our experience with the region has been excellent. I already referred to carefully monitored. our recent transactions in the Kingdom of Saudi Arabia and Qatar. We For the F8X this aspect is even more critical as the trend is clearly moving have closed aircraft deals with partners in Kuwait, the UAE and enjoy towards 2-engine powered business jets, as is the case for the successor excellent relationship with partners in Oman and Bahrain. We view the of the F8X, the F10X, and all other jets from Gulfstream and Bombardier GCC as an important region for us and are constantly developing new within this category. relationships through our regional base in Dubai. Overall, it really depends on the customer’s preference for: • Budget to be spent • Range needed • Favourite interior design and cabin style • Availability • Previous experience with other aircraft types and manufacturers Generally, we would say: “Spoiled for choice!” We thank you for the interview. Christian Nuehlen is the founder and CEO of Aircraft Finance Germany GmbH. He can draw on his experience in the commercial aviation industry spanning close to two decades in various roles. Since 2007, Mr. Nuehlen has been assisting leading aircraft lessors, airlines, banks and consulting firms with matters related to aircraft leasing, financing and transactions through his consulting firm Blueberry Xpress Deutschland. In 2011, Blueberry opened a second office in Singapore. Before founding Blueberry Xpress, he was a member of the management board and general counsel of XL Airways Germany, part of the XL Airways Group head- quartered in London. He began his career in the aviation industry in the legal department of Aero Lloyd German Airlines. Mr. Nuehlen holds a law degree from the University of Münster, Germany and a Master of Business Administration from the Graduate School of Business at Providence College, USA.

Ulysse Nardin Executive Free Wheel Osmium

Company Portrait A leading firm in commercial and business aviation Based on decades of experience, the professional team at Aircraft Finance Germany provides bespoke solutions to its clients. Their portfolio of services covers the entire transaction process from start to finish. With teams across the world, Aircraft Finance Germany brings its extensive experience and solid expertise to structure aircraft transactions in all aircraft markets in the world. Their team of aircraft professionals always go the extra mile with their partners to conclude aircraft transactions in the most reliable and efficient way. 500+ 100+ 50$ billion Transactions Clients Transaction volume AFG Aviation Ireland Limited Aircraft Finance Germany GmbH Aircraft Finance Germany S.A.M. 14 Fitzwilliam Square East, Niedenau 13-19 22 Boulevard Princesse Charlotte Dublin 60325 Frankfurt am Main 98000 Monaco MC Ireland Germany Principauté de Monaco mk@afg@aero mk@afg@aero mk@afg@aero +353 1 51 33 415 +49 69 7680709900 +377 99907429

Commercial Aircraft Freighter Aircraft Business Aviation Solutions Solutions Solutions AFG structures sophisticated AFG creates value for operators AFG offers tailor-made aircraft transactions in all to source the right cargo solutions regarding the scale, commercial aircraft markets in aircraft that fits to their specific acquisition and trading of the world. networks. corporate aircraft. Worldwide Network of AFG

Commercial Aircraft Solutions AFG structures sophisticated aircraft transactions in virtually all commercial aircraft markets in the world. As a strong and reliable member of the global aviation industry, AFG offers tailor-made commercial aircraft solutions to its investor base and aircraft operators. AFG has taken delivery of a wide range of commercial aircraft from manufacturers, airlines, leasing companies and investors and has delivered the same to airlines, leasing companies and investors. Their international team of aviation professionals delivers solutions and works tirelessly towards the optimal outcome for our global customer base. TRUSTED PARTNERS OF AFG • Banks & Financial Institutions • Aircraft Leasing Companies • Aircraft Operators • Aircraft & Engine • Manufacturers • Governments

PARTIAL PORTFOLIO OF PAST AND CURRENT COMMERCIAL AIRCRAFT • Airbus A321Neo • Airbus A321 • Airbus A330-200 • Airbus A320Neo • Airbus A330-200F • Boeing 737-800 • Airbus A300-600F • Boeing 737 Max8 • Airbus A320 • Boeing 747-8F AFG Partners





Freighter Aircraft Solutions In 2019, AFG set focus on freighter aircraft. Integrating access to a network of prime cargo operators and bringing to the team a strong understanding of cargo airlines have resulted in great success for AFG. AFG offers a range of solutions when it comes to P2F or production freighter. From regional turboprop to widebodies, our freighter team advises, manages and implements the right solution to meet your business needs. Air cargo and dedicated freighter demand remains dynamic and further growth is likely. Supply chain conditions will remain highly supportive of air cargo and AFG continues to play a leading role in freighter transactions and freighter conversions. AIRCRAFT AFG WORKED ON FOR CONVERSION PORTFOLIO OF FREIGHTER AIRCRAFT • Boeing 777-200F • Boeing B747-8F • Boeing 777-200LRF/300ERF • Boeing B747-400F • Airbus A330-200/300P2F • Boeing B777-200F • Boeing 737-800BCF • Boeing B757-200PF • Boeing 767-300BCF • Boeing B767-300ERF • Boeing 747-400F • Airbus A330-200F • Airbus A321-200P2F/PCF • Airbus A320-200P2F • Airbus ATR-72-500F • Bombardier Q400PF



AFG’s team consists of aircraft Business Aviation professionals going the extra mile Solutions with their partners to conclude aircraft transactions in the most AFG’s clients seek reliable and efficient way guidance in aircraft selection, acquisition, They make it easy for their and sales, leases clients and look out for their /finance and trades of best interest so their clients can corporate aircraft focus on their core business. worldwide.

OUR CORE BUSINESS AVIATION COMPETENCIES WE WORK WITH ALL KINDS OF COMPANIES ▪ Aircraft sales ▪ Private Individuals & HNWI ▪ Aircraft sourcing ▪ Corporates ▪ Aircraft acquisition ▪ Stock Listed Companies ▪ AFG aircraft inventory ▪ Heads of State ▪ Aviation consultancy ▪ Governments ▪ Aviation consultancy ▪ Special Mission Projects ▪ Asset appraisals ▪ Design Companies ▪ Market analysis ▪ Completion Centers ▪ Transaction advisory ▪ Maintenance Facilities ▪ Aircraft lease & finance assistance

Experience the efficiency, flexible purchasing options and extensive inventory that have made AFG one of the leaders in the industry. www.afg.aero



Advertorial Malaysia Kuala Lumpur Asia’s beating heart Located in the centre of Malaysia’s capital, Kuala Lumpur, we are able to support growth-orientated businesses with a number of secretarial, HR, payroll and other corporate services, taking care of many regulatory needs. Here are some reasons to do business in Malaysia including: - Low corporate tax rate The corporate tax rate in Malaysia is 24% with the rate for start-ups and SMEs is 17% (certain conditions apply) on the first RM500,000 with 24% applied on the balance. There are approximately eight taxes to be paid depending on the type of company including taxes on interest, vehicles and real estate. - Good incentives and support There are a number of incentives and support for companies looking to invest in Malaysia. Pioneer Status (PS) or Investment Tax Allowance (ITA) can provide up to 100% of income tax exemption on statutory income for companies in the manufacturing sector. There are many other sector-specific incentives and tax breaks on offer. - Robust employment laws Malaysia has an educated and multi-lingual society and clear and robust employment laws. Both employees and employers are required to pay into the employee’s social insurance via Malaysia’s Employees’ Provident Fund (EPF) and the Social Security Organization (SOCSO). Employment law in Malaysia is governed by the Employment Act which employers are expected to know.

We provide you with the best solutions to structure your business and your life plans. L ocated in the heart of Southeast Asia, Malaysia is a leading economy in one of the fastest- growing regions in the world, providing a dynamic and growing business environment. The Malaysian government has adopted a new economic model to achieve developed nation status by 2023, and this is translated in the implementation of market-friendly policies and regulations that are designed to generate growth and attract new business. A growing Middle Class has driven domestic consumption, supporting a vibrant retail sector. The country has a strong electronics and manufacturing sector that generates exports, and a successful start-up community. Malaysia is also an emergent regional hub for services, including financial services, information and communications technology and logistics. The Malaysian government has been championing its digital economy for many years through the Malaysia Digital Economy Corporation that launched the Digital Free Trade Zone in 2017 to capitalise on the growing internet economy by providing a platform where companies in the e-commerce industry can conduct business and services. Furthermore, Malaysia possesses a well-educated workforce who speak a high standard of English and other regional languages such as Bahasa, Cantonese, Mandarin and Tamil. For any company looking to expand into Asia, Malaysia makes clear sense as a starting point. Services Together with Alpadis’ Labuan office, their Kuala Lumpur office, located in the centre of the city, offers a wide range of services for local and international firms who decide to make Malaysia their home. Their experts will help you navigate the sea of local rules and regulations required to establish or expand your presence in this country, ensuring you are in full compliance at all times. Company Formation Services Wealth Planning Secretarial Services Tax Services Accounting Services Corporate Secretarial Services HR and Payroll Services Licensing Services Alpadis is an independent and privately-owned group, founded in Switzerland in 2005, by a small team of seasoned experts in wealth planning. True to their roots, they have carried the Swiss quality label across various Asian jurisdictions, whilst ensuring consistent high-quality services and enhanced cross-border capabilities for their international clients. They are a truly independent fiduciary services provider. They choose the best specialists to work hand in hand to maximise their client’s success and their services. Alpadis works closely with corporate clients, entrepreneurs, business owners, High Net Worth Individuals (HNWIs) and their family offices, who consult them for their expertise, credibility and ultimately, out of trust. Alpadis pride themselves on upholding the highest standards of professionalism, conduct and ethics across all jurisdictions in which they operate, and all the different services they offer. Their specialists consist of Certified Public Accountants, Company Secretaries, Lawyers and Tax Advisers, many of whom are members of national and international professional bodies.

Accessible experts across the globe Alpadis Group has had a presence in Malaysia since 2011 and it holds a Labuan Trust Company Licence and a Fund Administration Licence. Alpadis’ office in Labuan, also dubbed the pearl of Borneo, is located in the centre of the main town, close to the ferry terminal and within easy reach of restaurants and excellent duty-free shops. Spoken languages: English, German, French, Italian, Malay, Mandarin, and Cantonese. Alpadis Trust (Labuan) Ltd., U0065, 3rd Floor Jalan OKK Awang Besar 87000 F.T. Labuan, Malaysia Tel: +60 (0) 87 595 709 | Email: [email protected] Accreditations and Membership Ken Vui Chau is the Chief Financial Officer (CFO) and leads the Group’s operations in Malaysia, including Kuala Lumpur, where Alpadis Group also have an office. Chau covers taxation, compliance, financial planning, forecasting and cash flow among other areas, as well as working with Alpadis Group clients to assist them with various financial reporting and taxation matters. Chau began his career with KPMG Malaysia, before moving on to leading trust and fiduciary services firms. He is a Certified Public Accountant with both the Malaysian Institute of Certified Public Accountants (MICPA) and CPA Australia, and a Chartered Accountant with the Malaysian Institute of Accountants (MIA). He is also an approved Trust Officer by Labuan FSA He has worked in London, Singapore, Switzerland and Malaysia, and has led teams and overseen regional operations in his past experiences. He is regularly asked to mentor and train younger team members and prides himself on making things happen and solving problems. Born and bred in Sabah, East Malaysia, Chau enjoys reading, good movies, running and a game of badminton. He also speaks five languages: English, Malay, Mandarin / Cantonese and Hakka.