Residential Complex at Ozerkovskaya Embankment
Our Portfolio
AFI Development has a portfolio of 34 residential, commercial and mixed-use real estate projects in 20 locations throughout Russia and Ukraine, altogether comprising over 3.8 million squaer meters under development. 90% of the Company's projects are based in Moscow and represent 95% of Net Asset Value. The projects include office, retail and residential premises, multi-functional complexes and hotels in Moscow, St. Petersburg, Perm, Volgograd, Kislovodsk, Zheleznovodsk and Kiev.
AFIMALL CITY
Tverskaya Zastava traffic interchange
Tverskaya Mall
Tverskaya Plaza I mixed-use complex
Tverskaya Plaza IIa mixed-use comple
Four Winds Office Complex
Four Winds Residential Complex
Ozerkovskaya Embankment
Bolshaya Pochtovaya mixed-use complex
Paveletskaya business park
Plaza H2O Business Center 
Kuntsevo mixed-use complex
Berezhkovskaya business center
Botanic Garden residential complex
Wellness complex on the Ruza river
Odintsovo residential district (Otradnoe)
Mixed-use complex in Borispol, Kiev, Ukraine
Plaza Spa Hotel in Kislovodsk
SPA resorts in the Caucasian Mineral Springs area
Mixed-use shopping and entertainment complex in Volgograd
Shopping center in St.Petersburg
Residential complex in PermWhile we will continue to focus on Moscow and the Moscow Region, we also plan to undertake selective geographical expansion into the Russian regions, Ukraine and other CIS countries, either unilaterally or together with local partners.
Jones Lang LaSalle independently appraises the company's development portfolio on a twice-annual basis. As at 30 June 2008 the current portfolio in its existing state of development was valued at approximately US 5.9 billion.
The development portfolio projects are at various stages of completion, ranging from concept and design, to construction, to finished, leased and income generating properties.
Our strategy with regard to our development portfolio is to sell all residential properties and keep commercial properties to operate. we consider divesting a commercial property only in those cases where we can achieve extremely profitbale returns. This capital is then re-invested into new favorable projects in Russia and CIS coutnries, thereby increasing shareholder value. Among the main criteria for new investments, we evaluate the socio-economic conditions of the area, the specific location and ease of transportation, a minimum 25% project IRR and the development's overall ability to diversify and strengthen the company portfolio.