Core Viewpoint - NewGenIVF Group Limited is transitioning its Ras Al Khaimah development project from a Joint Venture to a Joint Development structure, aiming to enhance profitability and shareholder returns through increased profit entitlement and strategic control [1][2][8] Group 1: Strategic Conversion - The conversion to a Joint Development structure allows NewGenProperty Limited to fully finance the project and entitles it to 64% of net profits, potentially increasing projected pre-tax profit from US$67 million to US$123 million [2][4][7] - The legal endorsement from Ravenscroft & Schmierer confirms NewGen's right to exercise the conversion option, ensuring the transaction's legality and enforceability [5] Group 2: Fundraising and Financial Flexibility - To support the new structure and its financial commitments, NewGen plans to raise additional funds, which will enhance its financial flexibility and accelerate project activities [3][8] - The presale phase of the project is expected to begin soon, unlocking significant proceeds to finance ongoing development and reduce reliance on external funding [6] Group 3: Project Timeline and Profitability - The project completion is targeted for 2028, with the revised structure projected to generate an 83% increase in pre-tax profit compared to the original joint venture model [7] - The strategic move is expected to amplify shareholder value by aligning profit entitlements with the project's growth trajectory in a rapidly appreciating real estate market [8]