Investing in the first Eden Habitat.

• Unique mapped acres under signed protection commitments.
• Acres actively under restoration work in the reporting period.
• Condition and outcome measures — reported separately, never merged into an acreage headline.

Delivery per occupied suite-week

€1,153

Local food (ZMW 5,000)

€224

Local transfers, laundry and supplies (ZMW 2,500)

€112

Flexible local experience labour (ZMW 1,500)

€67

International facilitator

€650

Imported guest consumables

€100

ZMW 9,000 of local cost plus €750 of international cost. Middle-case delivery is 2% higher and fixed costs 5% higher; high performance 5% and 10% higher. Local Kwacha lines inflate 6% annually, euro lines 3%.

Mission budget

€166,400

Conservative Year 1

Professional stewardship

40%

Materials and maintenance

25%

Locally agreed projects and skills

25%

Monitoring

10%

Greater of 8% of net stay revenue or a €100,000 Year 1 floor, rising 3% annually, and additional to ordinary payroll and local procurement. A provisional allocation to agree locally, not promised outcomes. €100,000 is reserved inside the cash floor for closure and continuing care.

Development uses and funding

Base capital expenditure: local construction plus landed imports

€2,695,775

Procurement and construction escalation at 5%

€134,789

Construction contingency at 25%, assumed fully spent

€707,641

Total funded capital

€3,538,204

Pre-opening expenses, local: ZMW 3,000,000

€134,456

Land rent across the 18-month development period — none (government partnership assumption)

€0

Pre-opening expenses, international: €100,000

€100,000

Pre-opening expense contingency at 20%

€46,891

Total pre-opening expenses

€281,347

Refundable land deposit — none (government partnership assumption)

€0

Total pre-opening use of funds

€3,819,551

Opening cash reserve

€800,000

Committed funding, base case

€4,619,551

Additional committed liquidity indicated by the severe stresses

€1,210,000

Stress-covered committed funding

€5,829,551

• A new-build luxury tented and modular encampment under a proposed long-term government land partnership. No lodge conversion, no refurbishment of an existing building and no land or property purchase is modelled anywhere.
• Revision 7 excludes land lease expenses: the annual land rent, the development-period land rent and the refundable land deposit are all zero, shown as labelled nil lines rather than folded into another cost. Nothing replaces them — no rent-substitute fee, subsidy or in-kind land value is recorded.
• Local construction of ZMW 40,000,000 covers platforms, bathrooms, pavilions, staff buildings, site works, utilities, restoration landscape and capitalised professional fees. Every line is an unquoted management allowance pending quantity surveying and tender.
• The USD 1,050,000 of imported tents, frames and specialist plant is a landed allowance including freight, duty and non-recoverable charges, cross-converted through the Kwacha pair. Local lines carry installation, so there is no double count.
• Escalation of 5% and a 25% construction contingency are added on top of base capital and are assumed fully spent — appropriate for a first-of-its-kind build in a remote location.
• Pre-opening expenses cover trials, legal and land due diligence, community consultation, recruitment, launch and training, plus a 20% expense contingency. They are separate from the capitalised design line.
• No grant, membership, licensing, debt, land concession value or terminal value funding is assumed, and no raise is secured.

Governance

Operating structure

One operating entity for planning, with separately tracked hospitality, mission and central-support accounts. Company form and any charitable or community entity are decided only once jurisdiction, investors and partners are known.

Capital

Modelled as equity or patient mission capital with no debt and no interest. No investor distributions are assumed, and any future payout policy must protect the operating reserve and mission commitments.

Land partnership

A long-term government land-use agreement in place of a commercial ground lease: the state authorises use of a defined area, and Eden funds regeneration, community benefit and enduring protection from hospitality revenue. The agreement must define the area in acres, duration and renewal, the ecological baseline and targets, community governance, independent reporting, how continuing care is funded, our obligations and what happens on exit. Nothing is granted or signed, and no acreage or duration is claimed.

Community rights

A written local partnership precedes any marketing of a Habitat mission: consent, land access, paid work, procurement, intellectual and cultural rights, decision authority, dispute resolution and duties that continue after guests leave. Customary rights holders are party to the land arrangement where applicable. Community ownership is not claimed unless real equity or ownership rights are agreed.

Local advisory group

Compensated participation, with proposed reserved decisions over restoration priorities, guest access to sensitive places, cultural representation and use of mission funds, including a veto over work on sensitive land. Directors remain accountable for solvency and legal obligations; advisory powers must be written into agreements.

Mission funding

The greater of a €100,000 Year 1 floor, rising 3% annually, or 8% of stay revenue — €166,400 in conservative Year 1, and €1.274m cumulatively across five years. It is additional to ordinary payroll and local procurement, reported separately, with €100,000 reserved inside the cash floor for closure and continuing care. It is a planning floor, not evidence that any given acreage can be protected.

Reporting on land

Unique mapped acres under signed protection commitments, acres actively under restoration, and ecological condition and outcome measures are each reported separately. No single acreage headline stands in for outcomes, and protected acreage confers no ownership or land interest on guests or Guardians.

Labour guardrail

Guest contribution is additive and supervised. It never replaces paid local labour, public services, professional expertise or local leadership.

Principal risks

The land partnership is not secured

The whole Revision 7 cost structure assumes a long-term government land-use agreement with no rent and no deposit. No agreement, application, acreage, duration or public commitment exists. If land turns out to carry rent, a fee, a levy or a bond, the fixed cost base and the funding requirement both rise and the model must be rerun before any commitment.

Demand is unproven

No paid stay has been confirmed for this planning case. Willingness to pay €6,500 net per suite-week, and to join a 16-guest week at 40% occupancy, is a hypothesis until trial cohorts sell.

This is a construction project

Revision 7 builds a new encampment. Construction risk — tender price, ground conditions, weather, imported delivery, commissioning — sits with us, and an 18-month programme means eighteen months of spending before the first euro of revenue.

Construction cost is unquoted

ZMW 40,000,000 of local works and USD 1,050,000 of landed tents, frames and plant are management allowances. There is no tender, no quantity-surveyor certification and no customs ruling. A 5% escalation and a 25% contingency are carried, and a 20% overrun already breaches the cash floor.

Programme delay

A six-month delay costs six extra months of skeleton payroll, security and site care at ZMW 250,000 a month plus €10,000 a month of international cost, adds 3% capital escalation and defers opening revenue. Cash at handover falls to €587,855, and combined with the other stresses the model goes to −€900,757.

Tenure and asset lives

Twenty-, fifteen-, ten-, seven- and five-year asset lives assume a land-use agreement long enough to support them — the proposed term must cover the modelled asset lives, and its duration is negotiated, not agreed. No parcel, land agreement, build permit or ZEMA approval exists. Assets built on land held under a public agreement may not be recoverable when it ends.

Obligations attached to protected land

A partnership that authorises land use in return for regeneration and community benefit creates enforceable duties: monitoring, reporting, restoration and continuing care that outlast a weak season. Any additional negotiated protection or community deliverables require site-specific costing. The mission budget is a planning floor, not proof that a given acreage can be protected.

Season and schedule

Forty planned bookable weeks with January and February closed is a planning choice. It is not verified all-weather demand, and Zambezi flow, heat and rainfall could reduce saleable weeks.

Price escalation

6% annual package growth against 6% local and 3% international cost inflation is the requested planning input and a material source of projected margin. It is not evidence of pricing power.

Local operating costs are unquoted

Payroll, utilities, insurance and repairs are all management allowances. None is a supplier quotation or market-validated wage.

Currency

The dated Bank of Zambia midpoints are derived, not guaranteed transaction rates, and are held constant in the base case. A 20% stronger Kwacha alone lifts local construction and operating costs and cuts the opening reserve to €297,136 — a floor breach on its own.

Imported equipment and customs

The USD 1,050,000 landed allowance covers freight, duty and non-recoverable charges without a supplier or customs quotation. Tent fabric on a five-year life is the shortest asset and the largest reinvestment exposure. Import timing and clearance risk are not modelled.

Tax and levies

Corporate tax is a 30% proxy on positive accounting profit after depreciation, with no loss carry-forward or incentives assumed. VAT at 16% and the 1.5% tourism levy on qualifying components are treated as pass-through; qualification, base, capex VAT recovery and local capital allowances all need adviser validation. No tax exemption follows from a land partnership. Uniform monthly tax in the cash model is planning timing, not the statutory payment calendar.

Four stresses do not pass

The stronger Kwacha, the 20% overrun, the combined stress and the combined stress with a delay all breach the €300,000 cash floor, the worst by €1,200,757. About €1,210,000 of additional committed liquidity would be required, taking the prudential envelope to €5,829,551. No facility is secured.

Community agreement

No consent, partnership or restoration access is agreed anywhere. Free, prior and informed consent, local ownership, cultural and intellectual property protection, fair compensation and community veto remain preconditions.

Open diligence

• Paid bookings at the actual tax-inclusive package price, in peak and shoulder periods.
• A signed-form government land-use agreement: defined area in acres, duration and renewal, ecological baseline and targets, community governance, independent reporting, continuing-care funding, our obligations and what happens on exit.
• Written legal advice on whether any land payment, fee, levy or bond applies, and on the security of assets built under a public land agreement.
• A tendered build price and quantity-surveyor cost plan replacing the ZMW 40,000,000 construction allowance.
• Supplier quotations and a landed-cost calculation, with customs treatment, for the USD 1,050,000 of imported tents, frames and plant.
• ZEMA environmental screening and approval, plus build and operating permits.
• An operator-approved staffing roster with Zambian employer charges, leave and cover.
• Zambian adviser confirmation of corporate tax, VAT recovery, capital allowances and tourism-levy qualification.
• Restoration baseline, monitoring design and a costed decommissioning, exit and continuing-care plan.
• Site-specific costing of every protection and community deliverable the agreement would require.
• Insurance covering construction and operations, and confirmed land-use rights.
• Written local partnership terms, including reserved decisions and grievance remedy.

Replication conditions

• Verified positive cash generation at the first Habitat.
• Maintained mission funding through a full season.
• Acceptable service outcomes and partner-confirmed local benefit.
• Sufficient reserves after the first site's obligations.
• A new site-specific budget with local quotations — the Zambia cost preset is not transferable.