August 2013

H1 2013 Investor Presentation

FINANCIAL & BUSINESS RESULTS

This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of AFI Development Plc (the "Company") or any of its subsidiaries in any jurisdiction or an inducement to enter into investment activity. No part of this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. None of the Company or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with the document.

This communication is only being distributed to and is only directed at (1) qualified institutional buyers (within the meaning of Rule 144A of the United States Securities Act of 1933, as amended (the "Securities Act") or (2) accredited investors (as defined in Rule 501(a) of Regulation D adopted pursuant to the Securities Act). Any person who is not a "qualified institutional buyer" or "accredited investor" should not act or rely on this document or any of its contents.

This document contains "forward-looking statements", which include all statements other than statements of historical facts, including, without limitation, any statements preceded by, followed by or that include the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or GDRs, financial risk management and the impact of general business and global economic conditions.

Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak only as at the date as of which they are made, and the Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

Neither the Company, nor any of its agents, employees or advisors intends or has any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in this document.

The information contained in this document is provided as at the date of this document and is subject to change without notice.

Disclaimer

2

•Full cycle real estate developer

•Focus on unique large scale commercial and residential projects

•Primary market: Moscow, Russia

BUSINESS

•12 years on the market

•Admitted to LSE in 2007

•Premium listing from 2010

•Free float – 35,12%

HISTORY

•Strong global brand

•Affiliate of Africa Israel Group (64,88% owner) , a major conglomerate with global focus on real estate, construction and infrastructure

BRAND

•Strong liquidity position: US$ 161,4 mn as at June, 2013

•Secured financing for on-going projects

• 31% Debt to Total Assets**

FINANCIAL STABILITY

•16 completed projects with total c. 0,6 mln sqm of space

•Impeccable credit history

•Market reputation for high quality and professional property management

TRACK RECORD

•Substantial income generating

portfolio. Major project

AFIMALL

•2 projects are in active stage of development

•5 Pipeline projects & land bank

PORTFOLIO

** Bank loans only

AFI Development at Glance

Portfolio Value*

* Gross Asset Value of Portfolio based on C&W Valuation as for

30 June 2013 and BV of Land Bank projects, Trading Properties

and Hotels

Market Cap, as of July 31, 2013 US$ 0.60 bn

Price per share as of July, 31 2013 US$ 0.57

NAV (Equity), as of June 30, 2013 US$ 1.67 bn

NAV per share, as of June 30, 2013 US$ 1.59

Portfolio Value* US$ 2.5 bn

3

AFIMALL

47%

Delivered

Projects

25%

Next for

Development

28%

Land Bank

0,2%

Current Portfolio

Note: the NOI projections are “forward looking statements” based on C&W valuation assumptions and Company estimations and they can be realized or not realized due to factors beyond the Company's control including, among others, the impact of

competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or GDRs, financial risk

management and the impact of general business and global economic conditions

Key Projects in Moscow

Yielding Assets (retail, offices and hotels)

Development Projects

Ownership:50%

Aquamarine Complex

Four Winds

H2O Office

Four Winds***

Berejkovskaya

Paveletskaya, 1

Tverskaya Plazas

Otradnoe Kosinskaya

Pochtovaya, Phase I

Botanic Garden

Paveletskaya,

Phase # II

Other

AFIMALL City

Land Bank and Pipeline **Paveletskaya II, Otradnoe presented with BV

4

*Outside of Moscow

Value **(C&W): US$ 1.8 bn

GLA(excl. hotels),sqm: 204K sqm

NOI stab*. (AFID share, excl. hotels):

US$ 217 mn

Value** (C&W): US$ 673 mn

GLA,sqm: 252K

GSA, sqm: 574,3K

NOI stab: US$ 142,3 mn

Value (BV): US$ 20 mn

AFIMALL City Aquamarine II Berezkovskaya

Paveletskaya, 1

Tverskaya Ib, II

Ozerkovskaya III Aquamarine Hotel

Plaza SPA Zhel* Plaza SPA Kisl * H2O

Pochtovaya Tverskaya

Plazas

Odinburg

Kosinskaya Paveletskaya II

** Hotets presented with BV

SECTION 1

Project Update

Yielding Projects

5

AFIMALL City Update

6

PROJECT HIGHLIGHTS 100%

(as of June 2013) share

Total GLA(shops, offices, storage), sqm 107.2K

Total GLA shops only, sqm 96,8K

% of GLA shops only 83%

Stabilized NOI (C&W est.) US$151.2 mn

MV (C&W est.) US$ 1.160 bn

Loan balance as for June, 2013 US$ 600 mn

CURRENT STATUS:

Occupancy level has increased from 81% in Q1 2013 to 83% in Q2 2013 due to additional lease of

new area

In the first half of 2013, from January to June more than 40 new tenants have started running their

stores at the AFIMALL City. New brands, which have never been presented on the Moscow market,

now have open their doors for Mall visitors:

there are two grand openings of the new JamilCo's stores planned - NEW BALANCE

and MARC O'POLO.

FOREVER 21 will add 1,500 sqm of quality space in the nearest future

H&M HOME has signed a contract on 420 sqm

The management of the AFIMALL has confirmed the new aggressive marketing campaign which will

be launched in Q3 2013.

Following to final launching of underground parking, the Management of the AFIMALL has agreed

to implement a new way-finding strategy, which will help visitors to be oriented distinctly better

AFIMALL and Moscow-City Development

7

MOSCOW CITY DEVELOPMENT

EXISTING OFFICE COMPLEX

0 – Tower 2000

4 – Imperia Tower

9 – Capital City

19 – Naberezhnaya Tower

13a – Federation Tower (Zapad)

19 – Northern Tower

6, 7 – Central Core (AFIMALL

PLANNED/UNDER CONSTRUCTION

2, 3 – Evolution Tower

8 – City Point

11 – Transport Terminal

12 – Eurasia Tower

13b – Federation Tower (Vostok)

14 – Mercury City Tower

15 – Moscow City Government Bdl

16a – OKO

16b – Parking

17, 18 – Russia Tower

20 – Exposition and Business Center

2013 – section between Delovoy Center and Park Pobedi

2015 – transport terminal by Gals Development (aeroexpress to Vnukovo, SVO); further construction, line from Tretiakovskaya to Ramenki station

2018 Double avenue - Kutuzovskiy Prospect

2019 – line extension to Solntsevo

AFIMALL

FUTURE DEVELOPMENT

500K sqm of office buildings have been

completed in Moscow City

The Moscow City vacancy rate is c.80%

Hotel Novotel, launched last quarter, will

bring additional visitors to the Mall

In 2014 350K sqm of GLA will be build

up in Tower Evolution, OKO, Tower

Federation Vostok, Expocenter

TRANSPORT SITUATION

Yielding Properties

8

* Occupancy rate for AFIMALL presented as for end of June, 2013

** MV based on C&W valuation as for 30.06.2013 except hotel

*** Current net Rent in AFIMALL does not include discounts

8

Building AFIMALL BerezkovskayaPaveletskaya, bld.

1H2O

Tvesrkaya Plaza

Ib

Tverskaya Plaza

IIOzerkovskaya III

Aquamarine

Hotel*

Plaza Spa*

Kislovodsk

Plaza SPA

Zheleznovodsk

Ownership 100% 74% 99,1% 100% 100% 100% 100% 100% 50% 100%

Moscow Moscow Moscow Moscow Moscow Moscow Moscow Moscow

Moscow City CBD CBD CBD CBD

GBA, sqm 304 205 11 612 16 246 10 698 2 104 6 008 73 346 11 701 25 000 8 931

GLA, sqm 107 208 10 250 14 085 8 990 1 909 6 008 55 422 159 keys 275 keys 134 keys

Parking lots (total), # 2 075 150 126 81 - - 551 15 - 15

Average Ocupancy rate, % 83% 98% 96% 84% 94% 94% - 64% 60% 61%

Current Net Rent as of

30.06.2013, $/sq m1 259 443 244 206 527 455 F750 ADR 242 ADR 379 ADR 229

Class Retail Office B Office B Office B Street retail &

Office

Street retail &

Office

Office A & Street

Retail Hotel Hotel Hotel

NOI stab (C&W est.), US

mn151,6 5,8 4,6 2,9 1,3 4,5 46,0 - - -

NOI next 12 months (C&W

est.), US mn 86,3 4,6 3,4 2,0 1,0 3,0 F 15,0 - - -

MV(AFID share),US$ mn** 1 160 31,3 30,1 18,3 9,0 31,5 389,1 31,0 25,0 22,0

CAP Rate (C&W), as for

June 201310% 12% 13,5% 14% 12% 11,5% 10% 9,5% 13% 13%

Location Kavkaz region Kavkaz region

*

***

SECTION 2

Project Update

Projects next for Development

9

10

Pipeline Projects

CURRENT STATUS:

• The company has launched the new marketing campaign with a new name of the project Odinburg

• In June the first construction works on the land plot, allocated for the 1st stage in Phase # 1 has been launched (54,5K sqm from 200,8K sqm of GBA)

• The Company plans to start sales in Q3 2013

• The company is in negotiations with banks to finance the Project

• The mortgage accreditation was passed with one bank

CURRENT STATUS:

• Reinforced existing buildings; working documentation for electricity and heating are in place

• The end of construction works scheduled to H1 2014

• The project was submitted to top Russian banks

CURRENT STATUS:

• Approval documentation GPZU and GZK are in place

• Design works are in process. Project design stage – stage P will be finalized in Q3 2013

• The company finalized the top list to choose General Contractor

• Start of construction : Q4 2013 – H1 2014

CURRENT STATUS:

• Design works are in process

• Securing approval documentation

CURRENT STATUS:

• Design works are in process

• Securing approval documentation

CURRENT STATUS (Plaza IV):

• Securing approval documentation

• Land plot’s borders clarification

CURRENT STATUS (Plaza IIa):

• Securing approval documentation

PARAMETERS:

Type:

Residential

GBA(Phase I), sqm: 200,8K

GSA(Phase I total), sqm: 149,4K

# of Apartments: 2,620

PARAMETERS:

Type: Mix

GBA, sqm: 111,7K

GLA, sqm: 90,3K

MV(C&W),mn: S$ 103,5

PARAMETERS: Type: Office

GBA, sqm: 51,2K

GLA, sqm: 32,5K

MV(C&W): US$ 105,8 mn

PARAMETERS: Type: Office, Retail

Plaza IIa:

GBA/GLA, sqm: 10,5K/7,6K

MV Plaza II(C&W): US$ 25,7mn

Plaza IV:

GBA/GLA, sqm: 108K/61,4K

MV Plaza IV(C&W): US$ 168,6 mn

PARAMETERS:

Type: Residential

GBA, sqm: 170,4K

GSA/GLA, sqm: 63,2K/28,0K

MV(C&W),mn: US$ 142,3

PARAMETERS:

Type: Residential

GBA, sqm: 151,4K

GSA/GLA, sqm: 53,2K/21,0K

MV(C&W), mn: US$ 97,3

(in portfolio presented BV)

ODINBURG

KOSINSKAYA

TVERSKAYA IC

PLAZA IV PLAZA IIa

BOLSHAYA POCHTOVAYA

PAVELETSKAYA

Extensive land bank

Land bank – projects of the Company is currently put on hold

Land bank strategy

Activate projects upon securing required financing and evaluation of demand level from prospective tenants/buyer

Full flexibility regarding future development in various cycles of the economy – the major competitive advantage for the

Company

Land Bank Projects

Project Type Land (ha) GBA upon completion (sqm) BV as of 30.06.2013, US$ mn

Park Plaza Kislovodsk Hotel resort 5.3 40,000 7,2

Versailles, Kislovodsk Hotel resort 0.6 12,350 7,2

Ruza Mixed use 387 n/a 3,6

St. Petersburg Mixed use 3.07 n/a 1,8

TOTAL 19,8

Note: MV upon completion and GBA upon completion are “forward looking statements” based on JLL valuation assumptions and they can be realized or not realized due to factors beyond the Company's control including, among

others, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of

our shares or GDRs, financial risk management and the impact of general business and global economic conditions

11

SECTION 3

Financial Update

12

# Q1 2013 Q2 2013 H1 2013 H1 2012

US$mn US$mn US$mn US$mn

(1) Construction consulting/management services 0,0 0,0 0,1 2,2

(2) Rental income 33,1 35,4 68,5 58,8

(3) Sale of residential and trading property 0,2 55,0 55,3 3,9

(4) TOTAL REVENUE 33,4 90,5 123,9 64,9

(5) Other income 3,2 0,4 3,7 0,1

(6) Operating expenses (21,4) (17,8) (39,2) (32,3)

(7) Administrative expenses (4,0) (7,0) (10,9) (12,8)

(8) Cost of sales of residential and trading property (0,2) (31,8) (32,0) (3,0)

(9) Other expenses (1,8) (0,8) (2,6) (0,3)

(10) TOTAL EXPENSES (24,2) (56,9) (81,1) (48,2)

(11) Share of profit of equity-accounted investees (0,6) (0,1) (0,8) 15,4

(12) GROSS PROFIT 8,6 33,5 42,1 32,1

(13) Valuation gains on investment property 16,5 41,0 57,5 (183,8)

(14) Impairement loss for trading property and hotels (65,4)

(15) RESULTS FROM OPERATING ACTIVITIES 25,1 74,5 99,6 (217,2)

(16) Profit on sale/disposal of properties/investment 32,1 32,1 2,3

(17) Finance income 15,7 1,5 17,2 8,6

(18) Finance expense (16,8) (17,7) (34,4) (32,7)

(19) FX Gain/( Loss) (9,2) (19,6) (28,8) (4,4)

(20) Translation reserve reclassification due to disposal of subsidiary (30,3) (30,3) -

(21) Net finance income/(costs) (40,5) (35,8) (76,2) (28,5)

(22) PROFIT BEFORE INCOME TAX 16,7 38,8 55,5 (243,3)

(23) Current income tax (0,4) (0,4) (0,8) (1,1)

(24) Deferred income tax (0,7) (10,7) (11,4) 3,8

(25) PROFIT FROM CONTINUING OPERATION 15,6 27,7 43,3 (240,6)

ITEM ('000)# 30.06.2013 31.03.2013

US$ mn US$ mn US$ mn %

(1) Investment property 1679,9 1680,8 (0,9)

(2) Investment property under development 564,0 568,3 (4,3) (1%)

(3) Investment in Joint Ventures 5,6 6,0

(4) Property, plant and equipment 69,2 74,0 (4,8) (7%)

(5) Long-term loans receivable 21,2 21,7 (0,5)

(6) VAT recoverable 1,2 0,6 0,6

(7) Goodwill 0,0 0,0 0,0

(8) Inventory of real estate 0,0 0,0

(9) Non-current assets 2341,1 2351,5 (10,3) -

(10) Trading properties 7,7 39,8 (32,0) (81%)

(11) Trading properties under construction 115,3 114,4 0,9 1%

(12) Inventory 0,6 0,7 (0,1) (17%)

(13) Short-term loans receivable 0,1 0,1 0,0 (3%)

(14) Trade and other receivables 78,5 71,0 7,5 11%

(15) Current tax assets 3,1 3,0 0,1

(16) Cash and cash equivalents 161,4 200,8 (39,4) (20%)

(17) Current assets 366,6 429,8 (63,2) (15%)

(19) TOTAL ASSETS 2707,8 2781,3 (73,5) (3%)

(20) Share capital 1,0 1,0 0,0 -

(21) Share premium 1763,4 1763,4 0,0 -

(22) Translation reserve (149,5) (124,8) (24,8) 20%

(23) Retained earnings 53,8 26,2 27,7 106%

(24) TOTAL EQUITY 1668,7 1663,0 4,2 -

(25) Minority interest (1,5) (2,8) 1,3

(26) Trade and other payables 0,0 0,0 0,0

(27) Long-term loans and borrowings 809,4 846,6 (37,2) (4%)

(28) Deferred tax liabilities 113,9 103,2 10,7 10%

(29) Deferred income 20,2 21,0 (0,7) (4%)

(30) Non-current liabilities 943,6 970,8 (27,2) (3%)

(31) Short-term loans and borrowings 18,2 9,6 8,6 89%

(32) Trade and other payables 78,8 137,9 (59,1) (43%)

(33) Income tax payable 0,0 0,0 0,0

(34) Current liabilities 97,0 147,5 (50,5) (34%)

(35) TOTAL LIABILITIES 1040,6 1118,3 (77,7) (7%)

(36) TOTAL EQUITY AND LIABILITIES 2707,8 2781,3 (66,1) (2%)

NARRATIVE Changing

Income Statement and Statement of Financial Position

13

13

• (3) Parking sale

• (13) Valuation gain related mainly to the change in USD/RUB rate

• (10) Parking sale

Loans and Cash Position as of June 30, 2013

14

Gross balance of the loan portfolio (as of June 30, 2013) – US$ 827 mn

Total cash balance (as of June 30, 2013) – US$ 161,4 mn

Project BankBalance as of

June 30, 2013

Available

(US$ mn)Nominal Interest rate Currency Maturity

RCB $291 - 9,5% RUB 01.04.2018

RCB $309 - 3-m Libor+6,7% USD

TOTAL AFIMALL $600 $40 8,20%

Ozerkovskaya III (100%) VTB $220 $0 3-m Libor+5,7% USD 26.01.2015

Plaza SPA Zheleznovodsk Sberbank $6 $0 13,50% RUB 20.12.2014

TOTAL/AVERAGE RATE $827 7,6%

AFIMALL

* Was fully repaid in July 2013

*

As of June 30, 2013 the Company is in line with the covenants

Portfolio NAV as of June 30, 2013

LTV = 34%

LTE = 50%

*

15

PROJECT Book Value Bank loan Net Company's share

30.06.2013 30.06.2013

AFI Mall 1 160 (600) 560

Berezkovskaya (100%)* 42 42

Paveletskaya I (1) 30 30

Plaza H20 18 18

Ozerkovskaya III 388 (220) 168

Plaza Ib 9 9

Plaza II 32 32

TOTAL INVESTMENT PROPERTY: 1 680 (821) 859

Plaza Ic 106 106

Plaza II a 26 26

Plaza IV (100%) 169 169

Kosinskaya 104 104

Bolyshaya Pochtovaya 142 142

Paveletskaya II 12 121

Ruza 4 4

St. Petrsburg 2 2

OZE Phase III (underground utilities) 1 1

TOTAL INVESTMENT PROPERTY UNDER DEVELOPMENT: 564 672

Four Winds II 0 0

Ozerkovskaya Phase II (26) 8 8

TOTAL TRADING PROPERTY: 8 8

Aquamarine/Ozerkovskaya 26 31 31

Plaza SPA Zheleznovodsk 22 (6) 16

Pyatigorskaya (Park Plaza Kislovodsk) 7 7

Plaza Spa Kislovodsk (Tirel) (50%) 25 25

Versailles (Kislovodsk) 7 7

TOTAL PROPERTY PLANT AND EQUIPMENT: 93 (6) 87

Odinburg 115 115

AFIMALL parking sold to VTB 0 0

TOTAL TRADING PROPERTY UNDER DEVELOPMENT: 115 115

TOTAL PORTFOLIO: 2 460 (827) 1 741

CASH AND CASH EQUIVALENT 161

DEFFERED TAX LIABILITY (114)

TOTAL OTHER ASSETS AND LIABILITIES (120)

TOTAL EQUITY: 1 669

ANNEX

Market Overview

Yielding Projects

16

Market Overview (1/2)

Source: Commercial Real Estate Report, JLL; Cushman and Wakefield Report; EIU Russia, Rosstat

17

MACROECONOMIC UPDATE

MOSCOW OFFICE MARKET OVERVIEW

MACROECONOMIC UPDATE

• GDP: In H1 2013 the GDP growth reached 1.7%, compared to 4,3%

growth in Q1 2012. Russian performance remains superior to large

developed and neighbouring developing economies . Russian GDP per

capita is the highest among BRICS and amounted to USD17,665 in

2012.

• Oil price (Brent): In June oil price slowed down compare to Jan 2013

on 3%, but increased on 3% compare to H1 2012. The situation on the

market looks rather expectable for the summer period.

• Consumer sector remains strong. A strong labour market and solid

wage growth rates provided favorable conditions for consumptions, with

retail sales being up 3.5% YoY in June 2013

• Inflation: Relatively low and declining inflation (6.9% YoY in June

2013) continue to provide support to retail sales

• Supply: Over Q2 2013 6 new office buildings were brought on the

market with rentable area of 81,500 sq m. The major one is office

center class A “Wall Street” with rentable area 20,500 sq m,

located in downtown of the Moscow city

• Overall vacancy rate has decreased to 13.1% in Q2 compare to

14.2% in previous quarter indicating that the new office space was

absorbed relatively fast

• Rental rates: In Class A, the average asking rental rate grew from

$850 in Q1 to $870 in Q2 2013. Rental rates of prime office space

are at a level of $1,150 per year.

• Yield: The capitalization rates in Moscow remained almost the same

in Q2 2013

MOSCOW OFFICE MARKET OVERVIEW

Key indicators Units

Prime rate

(trophy assets)*

(US$/sqm/year)

1,150

Base rent Class A

(US$/sqm/year)

870

Yields 8,75%

Overall

Vacancy rate

13,15%

Vacancy rate, Class

A

17,9%

-10,00

-8,00

-6,00

-4,00

-2,00

0,00

2,00

4,00

6,00

8,00

10,00GDP Growth

United States France

Germany United Kingdom

Czech Republic Poland

Russia

*Prime base rents refer to rents in high quality

buildings in the Central Business District (CBD).

`

20

40

60

80

100

120

140 Oil price (Brent, US$ per barrel)

Jun 28, 2012

112,14

600

750

1 000

1 400

620 650

850 850 850 870

800

1 000

1 500

2 000

800 850

1 200 1 150

1 150 1 150

400

600

800

1 000

1 200

1 400

1 600

1 800

2 000

2 200

20052006200720082009201020112012 Q12013

Q22013

US$

/psq

m/p

a

average Class A class A CBD Prime

Market Overview (2/2)

Source: Commercial Real Estate Report, JLL; Cushman and Wakefield Report; EIU Russia, Rosstat 18

MOSCOW RESIDENTIAL MARKET MOSCOW RESIDENCTIAL MARKET

MOSCOW RETAIL MARKET OVERVIEW

• Supply: In Q2 2013, 3 quality shopping centers were opened with

GLA of 112,350 sq m. (Fashion House Outlet Mall; Vnukovo Outlet

Village; RIO Leninsky)

• Vacancy: The level of available space in quality shopping centers

reached a negligible amount of less than 2,5%,which is lower than in

most European cities. (6%)

• Rental rates: During Q2 2013 rental rates were stable across all

sub-sectors.(US$ 500 – 1,800 sqm pa and US$ 3,000 – 4,500 per sqm

pa for the ground floor of retail gallery)

• Yield: The capitalization rates in Moscow remained the same as in Q1

2013 and amounted at 9% for retail sector (prime area)

MOSCOW RETAIL MARKET OVERVIEW

Key indicators Units

CBD prime rates

(US$/sqm/year)

3,000 – 4,500

Average base rent

(US$/sqm/year)

500 – 1,800

Prime Yields 9%

Vacancy rate

(market average)

2,5%

• Supply: For the H1 2013 it was closed 163 business class deal on the

primary market, which is almost the same as last year.

• Prices Moscow: in Q2 2013 average asking units price for primary

business-class residential premises amounted to US$ 7,390 psqm

compared to US$ 7,100 in Q1 2013

• At the moment the price for business-class residential unit in CBD

of Moscow in the primary market reached a level of US$ 11,000 –

13,000 US$ psqm.

• Prices in Moscow region were unchanged and stood at the average

rate c. US$ 3,000 psqm

Key indicators

(Moscow)

Units

CBD prime

(US$/sqm)

11,000

Average price

(US$/sqm)

7,390

Key indicators

(Moscow Region)

Units

Average Price

(US$/sqm)

3,000

3 000

3 500

4 500 4 800

3 700 4 000

4 000

4 000

4 500 4 500

4 500

1 300

1 500 1 700

2 000

1 200 1 350 1 350

1 350 1 150

1 150 1 150

0

500

1 000

1 500

2 000

2 500

3 000

3 500

4 000

4 500

5 000

US

D p

sqm

pa

Prime rents Base rents

7,390

5 000

5 500

6 000

6 500

7 000

7 500

8 000

2010 2011 2012 2013

Contact Information

Registered office AFI DEVELOPMENT PLC Spryou Araouzou 165, Lordos Waterfront Building 5th Floor, Flat/Office 505, 3035 Limassol, Cyprus Tel. +357 25 310975 Principal office of operating subsidiary AFI RUS 16 A Berezhkovskaya Embankment, building 5, Moscow, 121059, Russian Federation. Tel: +7 495 796 99 88 http://investors.afi-development.ru

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