Q3 2014 IR Presentation FINANCIAL & BUSINESS RESULTS

Total Page:16

File Type:pdf, Size:1020Kb

Q3 2014 IR Presentation FINANCIAL & BUSINESS RESULTS Q3 2014 IR Presentation FINANCIAL & BUSINESS RESULTS November 2014 Disclaimer 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. 2 SECTION 1 Company Overview Company at Glance Market Cap, as of November 17, 2014 US$ 0.61 bn Price per share, as of November 17, 2014 US$ 0.58 • Full cycle real estate developer NAV (Equity), as of September 30, 2014 US$ 1.69 bn NAV per share, as of September 30, 2014 US$ 1.61 BUSINESS • Focus on unique large scale commercial and residential Portfolio Value* US$ 2.5 bn & projects in Moscow and Moscow region PROJECTS PORTFOLIO STRATEGY • Maintain a mixed portfolio which holds both yielding and Land Bank development projects from different sectors, with varying 17% 1% 21% Pipeline Yielding durations and phasing Projects • Strong global brand • Affiliate of Africa Israel Group (64,88% owner, a major 15% conglomerate with global focus on real estate, Active stage of TRACK construction and infrastructure; Free float – 35,12% construction RECORD 46% AFIMALL • 13 years on the market * Gross Asset Value of Portfolio based on C&W Valuation as for 30 June 2014 and BV of Land Bank projects, Trading Properties and Hotels( inc. JV) • Admitted to LSE in 2007 and Premium listing from 2010 0.95 1,600 Share Price since January, 2014 • 16 completed projects with GBA c. 0,6 mln sqm (incld sold) 0.90 1,400 0.85 1002.96 1,200 0.80 0.75 1,000 0.70 800 • Diversified portfolio: Offices class A and B, Hotels, 0.65 600 Residential Complexes and Retail Shopping Center 0.60 0.58 400 0.55 0.58 PORTFOLIO • 10 Investment Projects with GBA c. 0,5 mln sqm 0.50 200 0.45 0 • Development projects GBA is c. 1,6 mn sqm AFID (B-share) AFID (A-share) Index RTS 4 Key Projects in Moscow Yielding Assets (retail, offices and hotels) Value** US$ 1.7 bn Tverskaya IB Aquamarine Hotel ( C&W, Jun 2014): Berezhkovskaya GLA 194,4K PLAZA SPA ZHEL* (excl. hotels),sqm: NOI stab., US$ 202,7mn PLAZA SPA Kisl* Aquamarine III (excl. hotels): * * Hotels presented with cost value Ownership:50% AFIMALL Paveletskaya,1 H2O * Outside of Moscow Development Projects US$ 825 mn Odinburg** Value*** Plaza IIa (afid share, C&W): ,sqm: 236,41K Paveletskaya II GLA Plaza IC GSA,sqm: 558,10K Kossinskaya Pochtovaya Plaza IV *** Odinburg presented with cost value, Land Bank Yielding Assets Value US$ 17 mn (book value): Projects under active stage of development and pipeline Completed Assets Other 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 competitive5 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 SECTION 2 Market Update Market Overview and Capital Markets RUSSIAN MACROECONIMIC OVERVIEW Political and economic uncertainty continues to influence Russian macroeconomic forecasts. Sanctions, Russia GDP Growth, % Y-O-Y falling oil and increasing risk perception have put Russian economic growth under continued pressure. 20 10 0.5% • Russian economic growth: According to estimates from the MED, in Q3 2014 Russian GDP increased by 0,7% Y-O-Y, taking into account seasonable factor the growth estimates around 0%. The forecast for the 0 2014 growth is no more than 0.5% annually. -10 -20 • Longer term, declining oil price will put pressure on the ruble and current account. In September Oil prices Brent dropped down on 19% compared to June 2014. (85 US$/barrel vs 105 US$/barrel.) Compared to the same period the price decreased on 21% ( 85 US$ vs 109 US$). 65 Exchange Currency 0.9 • Exchange rates: Russian national currency continued to depreciate. As for the 10th of November the 55 0.7 USD/RUB broke through the level in 46.9, and EUR/RUB in 58.5. From the beginning of the year the 45 Ruble depreciated more than 40%. 35 0.5 • Liquidity is tightening and getting more expensive. On the back of sanctions, external debt financing has 25 been significantly squeezed rising. Senior debt financing is becoming more expensive and construction 15 0.3 financing is difficult to obtain. EUR/RUB USD/RUB USD/UER • The weaker ruble and ban of food imports resulted in inflation jump. Inflation reached 8% YoY in 180 Oil Price(Brent) vs RUB/USD 50 September 2014 compared to 7.6% the previous month. The main driver of inflation is food price growth as 46.85 40 a result of self-imposed sanctions on the import of certain products. 130 30 RUSSIAN REAL ESTATE INVESTMENT MARKET 20 80 85.04 More than US$ 1,7 bln has been invested in Russian Commercial real estate in Q3 2014. 10 30 0 • After a quiet summer, investment volumes reached USD1.7 bn in Q3 2014, down only 2% YoY. On paper, these are an encouraging set of numbers, with Q3 results exceeding the total investment volume of H1 2014. Brent USD/RUB Given the current headwinds in the economy, particularly in debt markets, it is highly likely that volumes Russian Real Estate Market will remain subdued well into next year. Transactions (2003-2014) 8,000 60 50 • Foreign investors continue tread carefully. In Q1- Q3 2014 local investors continue to dominate the market, 6,000 40 Russian players accounted for 69% of deals in Q1-Q3 2014 vs. 54% in Q1-Q3 2013. Given the tension 4,000 30 20 between Russia and the West, real estate consulting companies do not expect a significant pick up in western 2,000 10 investment before the end of the year. $, mln Volume, 0 0 Amount of transactions of Amount • Total investment volume in 2014 (forecast): Colliers JLL CBRE C&W Source: IMF, MED, C&W, JLL, Colies 4.0-4.5 3.4 3.2 - 4.0 >5.0 7 Office and Retail Markets overview OFFICE MARKET OVERVIEW 1,300 • 15 new office buildings were delivered in 3Q 2014, totaling 496K sqm of Office Price (Class A, Class B), US$ psqm Key indicators Units additional office space.
Recommended publications
  • Vladimir Putin Just Wants to Be Friends P42 ADVERTISEMENT
    September 12 — September 18, 2016 | bloomberg.com Vladimir Putin just wants to be friends p42 ADVERTISEMENT WORLD CLASS AS STANDARD Bringing It All Together For results to meet expectations, belief in preparation and teammates benefits world-class golfers and investors One nickname for them was the Spanish matches, European captain Tony Jacklin Rotella. “For some players it’s a new expe- Armada, although they fared much better sent his planned pairings out to play nine- ULHQFHDQGWKH\·YHQHYHUKDGWRVDFULÀFH DW7KH5\GHU&XSWKDQWKHLOOIDWHGÁHHW hole small-money matches. Ballesteros a lot for the good of the team. Other guys of 1588 did in war. Beginning in 1987, DQG2OD]iEDO³SOD\LQJWRJHWKHUIRUWKHÀUVW ORYHEHLQJXQVHOÀ V K W H D PSOD\HUV,Q7KH and paired together over four consecutive time ever as partners—squared off against Ryder Cup, knowing ahead of time who Ryder Cups for eight matches in foursomes Bernhard Langer and Ken Brown for $10, you are going to be paired with, and to be (alternate shot) and seven in four-ball and were two down with two holes to play. excited about that, is a big deal. When you (best ball), Spaniards Seve Ballesteros On the eighth hole, Ballesteros holed out UHDOO\ÀQGRXWLI\RX·UHFORVHO\NQLWLVZKHQ and José María Olazábal ran up a record from a bunker to win. One down. On the you get down in a match. That’s when you of 11-2-2—by far the most successful ninth, Olazábal rammed in a 20-foot birdie À Q G RXWLI\RXEHOLHYHLQHDFKRWKHUDQG partnership in the history of the event. putt to win.
    [Show full text]
  • Significant Growth Potential for KONE in Russia
    KONE Capital Markets Day 2008 Significant growth potential for KONE in Russia Klaus Cawén Executive Vice President, M&A and Strategic Alliances, Russia, Legal Affairs Significant growth potential for KONE in Russia Rapidly growing economy One of the top ten elevator markets KONE uniquely positioned to drive growth Capital City, Moscow 2 May 7, 2008 © KONE Corporation l Capital Markets Day l Klaus Cawén Rapidly growing economy Strong GDP growth 140 million population – mostly urban High disposable income – high consumption Antey-III, Yekaterinburg 3 May 7, 2008 © KONE Corporation l Capital Markets Day l Klaus Cawén Strong GDP growth 12 10 8 6 4 2 0 2000 2001 2002 2003 2004 2005 2006 2007 Note: Real GDP Growth Source: Bank of Finland 4 May 7, 2008 © KONE Corporation l Capital Markets Day l Klaus Cawén In addition to Moscow and St. Petersburg there are 11 cities with a population exceeding one million Cities by Number of Inhabitants (Millions) Moscow St Petersburg St Petersburg Novosibirsk Nizhny Novgorod Rural Moscow Yekaterinburg 26% Samara Omsk Nizhniy Novgorod Perm Perm Rostov-na-Donu Kazan Kazan Samara Yekaterinburg Ufa Urban Ufa Chelyabinsk Chelyabinsk 74% Rostov-on-Don Volgograd Omsk Volgograd 0 1 2 3 4 5 6 7 8 9 Novosibirsk Source: United Nations Population density and urbanization statistics 5 May 7, 2008 © KONE Corporation l Capital Markets Day l Klaus Cawén Source: United Nations Population Division estimates and projections High disposable income Unleashed hungry urban consumers 13% flat income tax Growing middle class
    [Show full text]
  • Moscow City Project Continues to Be Developed, with the Naberezhnaya Tower Complex Being Completed in 2007
    Research Moscow Office market report • H2 2007 Contents Moscow office markets 2-3 Market breakdown 4 Market data 5 Executive summary • Demand for quality office space in Moscow clearly exceeds supply, with the vacancy rate for class A premises standing at just over 1%. Prime rents have continued to show rapid growth. • The quality of large-scale office accommodation is improving, while office complexes of over 100,000 sq m are becoming increasingly common. About six such projects are expected to open in 2008. • The geography of Moscow’s office market is expanding, with a number of large business parks being developed outside the city boundaries, such as Khimki Business Park, Greenwood Business Park and Western Gate. • The MIBC Moscow City project continues to be developed, with the Naberezhnaya Tower Complex being completed in 2007. However, some tenants are reluctant to move to Moscow City until there are improvements in the transport infrastructure and the availability of parking. In light of these factors, rents of over $2,000 per sq m per annum are viewed by many as being overpriced. • Investment in office properties has been growing at an unprecedented rate. Prime yields compressed by around 200 basis points during 2007 to stand at 8.00% at the end of the year. 2 Moscow office market report • H2 2007 Knight Frank Moscow City (Moscow International Business Center) 19 18 19 Complete 18 17 1st Krasnogvardeysky proezd 25 Partially 16a 16b 1 Complete 20 21 13 14 15 12 2008 11 Expocenter 8a 8b 7 6 2009 10 2 2010 9 4 3 Kra 2011 snop resne
    [Show full text]
  • Ojsc “Lsr Group” 36 Kazanskaya Street, St
    STRICTLY CONFIDENTIAL – FOR ADDRESSEE ONLY REPORT AND VALUATION FOR: OJSC “LSR GROUP” 36 KAZANSKAYA STREET, ST. PETERSBURG,190031, RUSSIA OF THE REAL ESTATE PROPERTIES TOGETHER KNOWN AS: “LSR GROUP PORTFOLIO” DATE OF VALUATION: DECEMBER 31, 2011 DATE OF REPORT ISSUE: FEBRUARY 29, 2012 PREPARED BY: OOO CUSHMAN & WAKEFIELD LLC DUCAT PLACE III 6 GASHEKA STREET 125047, MOSCOW, RUSSIA TEL: +7 (495) 797-9600 FAX: +7 (495) 797-9601 TABLE OF CONTENTS 1. SCOPE OF INSTRUCTIONS ................................................................................................... 3 2. BASIS OF VALUATION ........................................................................................................... 7 3. ASSUMPTIONS AND SOURCES OF INFORMATION ................................................... 7 4. TENURE AND TENANCIES .................................................................................................. 8 5. NET ANNUAL RENT.............................................................................................................. 10 6. TOWN PLANNING ................................................................................................................. 11 7. STRUCTURE .............................................................................................................................. 13 8. SITE AND CONTAMINATION ........................................................................................... 13 9. PLANT AND MACHINERY .................................................................................................
    [Show full text]
  • ON the ROAD City Moscow
    a a a s r Hotel Hilton i a y t k li s D vo o u M t o e l li k va a t y u u uc ry k o 2-ya Brestskaya ulitsa e Ragout a a h p r k e a i y e h s e ulitsa Fadeeva t p s ga a v a s 4-ya 11Tverskaya Yamskaya ulitsa ele p k p M D o y i s e 3 Sad r r a tsa ova k s e s uli p - naya Samotechnaya ulitsa ya NII Skoroy Pomoshchi a it ya tech Sadovaya -S s S u l 1-ya Brestskaya ulitsa ovaya Samo uk ’ kor Sad ha l p lo u 1 rev Sklifosovskogo e S Kazansky s t n k ulitsa Chayanova 1 ka y a ya p a az T u s T v lit y vokzal sa o h t e a i r K n l s lok h iy u k y s B ’ p a l - Kalanchevskaya ulitsa l a y reu eu e o e r 1 o r a p A. A. Chernikhov Design e Dokuchaev pereulok y 6 l iy e n B a Y y ’ u e s am h p and Architecture Studio l k z o u h r Sukharevskaya s O v k o s v k o y o a h y y K k a i h a u L c li r Ryazanskiy proezd ts a e n Novoryazanskaya ulitsa 1-ya 11Tverskaya Yamskaya ulitsa s t a t la li n u a a iy o y l a K n Tsventoy bul’var u l’ p Sadovaya-Spasskaya ulitsa fa e m e r iu ultisa Petrovka r e a r e T p 52 k r Bol’shaya Gruzinskaya ulitsa 53 ya u n a a ulitsa Malaya Dmitrovka k v l iy o o e o lok v n l d reu ’ n pe k t Mayakovskaya eu Sa Maliy Karetniy l a e m r u s r 2-ya Brestskaya ulitsa pe b S iy V n y y o a o r s n he o t ulitsa Mashi poryvaevoy z i t t l ru ni pereulok 2-ya Brestskaya ulitsa etniy e O dniy Kar k u k Sad e v ereulo Orlikov pereulok o r arevskiy p Vasilyevskaya ulitsa S s kh Daev pereulok v T Bol’shoy Su 64 Ermitazh T o s Krasnovorotskiy proezd s v Mosproekt-2 k e i Tishinskaya ulitsa Yuliusa Fuchika y t p Pushkinskaya
    [Show full text]
  • PERSPECTIVAS E DESAFIOS AO DESENVOLVIMENTO NA RMC O MEIO AMBIENTE URBANO Seminário
    Seminário PERSPECTIVAS E DESAFIOS AO DESENVOLVIMENTO NA RMC AGEMCAMP/PUCCAMP/FFORUM O MEIO AMBIENTE URBANO EixoEixo dede anan áálise:lise: AmbienteAmbiente UrbanoUrbano –– AA CidadeCidade QuestõesQuestões QuestõesQuestões ““TradicionaisTradicionais ”” ““AtuaisAtuais ”” Dicotomia Cidade – Campo Conectividade Cidade Industrial Cidade Terciária Elevada Tx de Crescimento Demográfico Menores Taxas de Crescimento Favelização – Periferização Urbanização e Saneamento Metropolização Crescimento das Aglomerações Urbanas Maior Crescimento do Núcleo Crescimento dos Municípios Periféricos Qualidade de Vida Ambiente Competitivo Funções Claras de Núcleo (com centro Centros de Serviços Localizados nos principal e subcentros) Grandes Eixos – Novas Centralidades? Expansão da Mancha Urbana Urbanização Dispersa Migrações Nacionais de Longa Distância Migração Internacional Deslocamentos Intra-urbanos Deslocamentos Pendulares Inter- regionais QuestõesQuestões AlternativasAlternativas Deslocamento de Plantas Busca de “Nova Identidade” Industriais e Redução do Emprego Industrial Existência de Áreas Projetos de Renovação Urbana Degradadas Redução das Funções do Projetos de Revitalização dos Centro Centros CompetitividadeCompetitividade ee NovaNova IdentidadeIdentidade AA BuscaBusca dede NovaNova IdentidadeIdentidade RequerRequer IntervenInterven ççõesões emem DiferentesDiferentes EscalasEscalas Espaciais.Espaciais. AAççõesões dede DistintosDistintos Atores:Atores: EscalasEscalas PropostasPropostas AAççõesões Escala Global e • Criação de “Ambiente” Atrativo à
    [Show full text]
  • BUILDING Works
    55°44’49.6”N | 37°32’12.6”E BUSINESS CENTERS & HIGH RISES ENKA Naberezhnaya Tower, Moscow, Russia INDUSTRIAL PLANTS MALLS AND SHOPPING CENTERS PUBLIC BUILDINGS URBAN DEVELOPMENT USA EMBASSY PROJECTS BUILDING works SELECTED PROJECTS BUSINESS CENTERS & HIGH RISES TAIF Business Center, Republic of Tatarstan, Russian Federation Esentai Park Complex, Kazakhstan 55°43’56.1”N | 37°38’49.3”E Moscow City Plot 12 Eurasia Tower, Russian Federation Hyatt Regency Hotel, Business&Residential Center, Kazakhstan Riverside Towers, Moscow, Russian Federation Moscow City Plot 4 Imperial Tower, Russian Federation Mosenka Office Buildings, Russian Federation Naberezhnaya Towe, Russian Federation Paveletskaya Square Business Center, Russian Federation Riverside Towers, Russian Federation Sadovaya Plaza, Russian Federation The Central Core of MIBC, Moscow International Business Center, Russian Federation Tsvetnoy Multifunctional Complex, Russian Federation White Square Office Center, Russian Federation INDUSTRIAL PLANTS General Motors New Car Assembly Plant, Russian Federation Mars Confectionery Plant, Russian Federation Toyota Car and Assembly Plant, Russian Federation Toyota-SA Automobile Factory, Turkey Derna Desalination Plant, Libya Soussa Desalination Plant, Libya CONTENTS Zawia Desalination Plant, Libya Zuara Desalination Plant, Libya Benghazi Cement Plant, Libya Hawari Cement Plant, Libya Souq Al-Khamis Cement Plant, Libya Al Khoms Cement Plant, Libya Tasluja Cement Plant, Iraq Kerbela Cement Plant, Iraq Falluja White Cement Plant, Iraq Badoosh Cement
    [Show full text]
  • Lease Payments Under the PLA ¾ No Advance Payments ¾ How Should Certain Payments Under the PLA Be Assessed (For Access, for Use, Etc.)?
    HOW TO OPTIMIZE OFICE REAL ESTATE FOR END- USERS` BUSINESS NEEDS February 9, 2012 AEB Conference Centre Current Office Market Trends Speaker: Svetlana Kara Praedium ONCOR International February 9th, 2012 Current Office Market Trends Office Premises Breakdown by Classes, Moscow Source: Praedium ONCOR International Current Office Market Trends New Office Properties Commissioned in 2011 and Planned for Commissioning in 2012 Commissioned in 2011 – 700 000 sq.m Planned for Commissioning in 2012 – 625 000 sq.m Source: Praedium ONCOR International Current Office Market Trends New Construction Volume Dynamics, sq.m Source: Praedium ONCOR International Current Office Market Trends Major Office Properties Commissioned in 2011 Imperia Tower Olympia Park Total Area: 310,210 sq.m Total Area: 71,500 sq.m Leasable Area: 70,110 sq.m Leasable Area: 45,019 sq.m Vacancy Rate: >50% Vacancy Rate: 4% Vivaldi Plaza Total Area: 109,485 sq.m Leasable Area: 66,634 sq.m Vacancy Rate: 73% Linkor Diamond Hall Total Area: 63,000 sq.m Total Area: 61,500 sq.m Leasable Area: 34,000 sq.m Leasable Area: 38,000 sq.m Vacancy Rate: 27% Vacancy Rate: 52% Current Office Market Trends Major Office Properties to be Commissioned in 2012-2013 Alcon Mercury City Tower Sky Light Total Area: 102,177 sq.m Total Area: 158,528 sq.m Total Area: 111,240 sq.m Leasable Area: 66,776 sq.m Leasable Area: 86,000 sq.m Leasable Area: 77,500 sq.m Lighthouse White Gardens Aquamarine III Total Area: 41,270 sq.m Total Area: 105,000 sq.m Total Area: 75,500 sq.m Leasable Area: 23,500 sq.m Leasable Area:
    [Show full text]
  • Q1 2015 IR Presentation FINANCIAL & BUSINESS RESULTS
    Q1 2015 IR Presentation FINANCIAL & BUSINESS RESULTS May 2015 SECTION 1 Company Overview Company at Glance Market Cap, as of May 22, 2015 US$ 0.3 bn •Full cycle real estate Price per share, as of May 22, 2015 US$ 0,29 •Strong liquidity developer NAV (Equity), as of March 31, 2015 US$ 1.29 bn position: US$ 74,7 mn NAV per share, as of March 31, 2015 US$ 1,23 as at March 31, 2015 Portfolio Value* US$ 2.0 bn •Focus on unique large scale FINANCIAL BUSINESS •Secured financing for on- commercial and STABILITY PORTFOLIO VALUE* going projects residential projects Development Projects AFIMALL • 31% Debt to Total 29% 50% •Primary market: Assets** Moscow, Russia •14 completed projects •14 years on the with total c. 0,6 mln market sqm of space •Admitted to LSE in •Impeccable credit TRACK HISTORY 2007 history •Premium listing from RECORD 2010 Yielding Projects and Hotels •Market reputation for 21% high quality and •Free float – 35,12% professional property * Gross Asset Value of Portfolio based on C&W Valuation as management for 31 December 2014 and BV of Land Bank projects, Trading Properties and Hotels( inc. JV) •Strong global brand % Change since January 2015 60% •Affiliate of Africa •Substantial income 50% Israel Group generating portfolio. Major project AFIMALL 40% BRAND (64,88% owner) , a PORTFOLIO major conglomerate 30% 11% with global focus on •8 Development Projects real estate, & land bank 20% construction and 10% infrastructure 0% ** Bank loans only -10% AFID January-15 February-15 March-15 April-15 May-15 3 Key Projects in Moscow *** *** Information presented as for 31 Dec, 2014 Yielding Assets (retail, offices and hotels) Tverskaya IB Value** US$ 1.4 bn Riverside Station ( C&W, Dec, 31 2014): AFIMall GLA(excl.
    [Show full text]
  • The Moscow International Business Center
    LOADTEST O-Cell® Technology in Moscow City, Russian Federation The Moscow International Business Center The Moskva-City (also known as the Moscow International Business Center) Project is a $12 billion development close to the heart of Moscow. This new international business centre will consist of offices, hotels, retail and residential development. It will be the first of its kind in Eastern Europe and will offer the most up to date transport and telecommunications network. These large high-rise projects have required foundations into the Suvorov Limestone through the Voskrensky clay. RMJMs Twisting Wedding Since the behaviour of the Limestone is relatively unknown, Palace. pile tests have been recommended to verify the foundation designs. Bi-directional testing using O-cells was employed to verify rock socket behaviour. Tests were performed on piles of diameters between 900 mm and 1500 mm, located on several separate plots, mobilising total capacities in excess of 60 MN. Plots 2-3 required testing for the foundations of the City Palace, formerly known as the Wedding Tower, designed by RMJM as “a wedding chapel in the sky”. This 46 storey twisting skyscraper will incorporate a top floor ball room with stunning views over Red Square. Plot 4, Imperia Tower is a multipurpose 2 building complex located on plot 4 of the Moscow International Business Center, the mixed-use Building A and the water park entertainment complex in Building B. Office space, The City of Capitals apartments, a 280 room hotel and a water park will make up (photo Bradmoscu) the project and will be a focus of entertainment for MIBC with a shopping mall, restaurants and cafés.
    [Show full text]
  • Case Study: Capital City Towers, Moscow
    ctbuh.org/papers Title: Case Study: Capital City Towers, Moscow Authors: Yuri Starodubtsev, Special Projects Design Manager, Capital Group Joey Myers, Senior Project Designer, NBBJ Larry Goetz, Principal, NBBJ Subjects: Architectural/Design Building Case Study Interior Design Keywords: Design Process Façade Foundation Structural Engineering Publication Date: 2011 Original Publication: CTBUH Journal, 2011 Issue II Paper Type: 1. Book chapter/Part chapter 2. Journal paper 3. Conference proceeding 4. Unpublished conference paper 5. Magazine article 6. Unpublished © Council on Tall Buildings and Urban Habitat / Yuri Starodubtsev; Joey Myers; Larry Goetz Case Study: Capital City Towers, Moscow “As a pioneering project in Moscow, Capital City has forged many new pathways for the city’s real estate and construction industries. Through its integrated design and engineering, Yuri Starodubtsev Joey Myers the project provides a model for mixed-use development, which remains rare in the city, and further establishes a new identity for Moscow.” Larry Goetz After more than a decade in the planning, Moscow City, a new mixed-use business district rising 4 kilometers (2.5 miles) west of the Kremlin, is a symbol of Russia’s ascent in the global Authors economic playing field. The Capital City mixed-use development (see Figure1), completed in Yuri Starodubtsev, Special Projects Design Manager 2010, is the fourth to be realized among more than 20 projects which comprise Moscow City Capital Group and, at 302 meters (989 feet) in height, it is currently the tallest building in Europe. With its 123317 Moscow, 8/1 Presnenskayaemb iconic form that recalls Constructivist geometries, Capital City also captures modern Moscow.
    [Show full text]
  • Office Market Report
    Research department and market analysis www.ilm.ru Moscow, 1 quarter 2017 Office market report 6 Presnenskaya nab., Building 2 Imperia Tower, Moscow City, Moscow, Russia +7 495 287 06 00, [email protected] Office market report Main indicators | 1 quarter, 2017 Main indicators of the office market Moscow, 1 quarter 2017 Net absorption of office space Vacancy rate* Average asking base rents The first 3 months have seen Q1 2017 zero supply, which is the record lowest supply for the last 10 years 19.4 % m 17.9 % Class B- 13 000 rub. 14.8 % Class B+ m 9.7 % 16 000 rub. m 148 000 sq. m 36 000 sq. 25 500 rub. Class B+ Class B- Average 106 000 sq. 5 000 sq. The first quarter of 2017 has seen zero new supply, which has become an anti record for the last 10 years of collecting and tracking the total net absorption became positive and reached 5,000 square down market data. The total number of square meters of new office meters in Q1 of 2017. 148 space in 2017 is expected to be the lowest and will not exceed The decrease of the new space delivery continues to impact the thousand sq.m 450,000 square meters as announced by the developers. The largest l market calibrating the balance between demand and supply. In projects, however, will continue to be pushed back, and the new ta by the end of Q1 net absorption has made the beginning of the year vacancy rates have dropped by 0.9 points supply may actually turn out to be even lower.
    [Show full text]