Arbat

Eastern Property Holdings indirectly owns almost 50% of two mixed-use developments in the historic Arbat district of Moscow.

The first project, located at Arbat 24-26 is currently under construction, with completion expected by end-2009. The project, which will include retail, theatre, and luxury apartment space, consists of 27,000 Gross Build Area on a site area of 3,700 sqm.

The second project, which for which site preparation will commence late in 2008, consists of 13,356 sqm of GBA on a site area of 3,200 sqm. Located near the first project, the space will also consist of retail space for lease, and luxury apartments for sale.