Main Targets for 2012 AFIMALL CITY - Improve operations in AFIMALL -
Settle the agreement on disposition of 665 parking units to VTB bank Reimburse VAT on parking buy-out in the amount of US$ 20 mn Finalize parking construction by the end of 2012 Increase occupancy level and number of visitors Introduce aggressive advertising campaign Secure refinancing for AFIMALL on favorable terms ( low interest rate and principal amortization)
OZERKOVSKAYA III - Complete construction of Ozerkovskaya III and proceed with lease up/sale - Upon completion and partial lease of the project the Company aimed to refinance the loan facility in US$ with lower interest rate payment
TVERSKAYA PLAZAS - Complete the process with the City regarding the renewal and re-approval of the Company development rights and leasehold interests in land plots at the Plaza Ic, Plaza IIa and Plaza IV - Finalize restructuring of existing loan facility on Tverskaya Mall project
ODINTSOVO (OTRADNOE) PROJECT - Decide on the further development of Odintsovo project - Secure construction debt financing
PLAZA SPA ZHELEZNOVODSK (KALININA HOTEL) - Conduct grand opening of Kalinina Hotel in July 2012
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