CpiFim

Earnings Release • Apr 6, 2010

Additional Information

1- Corporate Responsibility

The Orco Foundation is making a difference in people's lives in Central Europe via three areas of activity:

• Providing social programs that offer therapeutic solutions to individuals or families faced with illness or in distress;
• Creating events that bring together local communities and Orco employees for the benefit of the environment;
• In the long-term, renovating or constructing buildings dedicated to social works, whether it be a home for the elderly or a day center for at-risk youths.

The Orco Foundation is active in the Czech Republic, Germany, Slovakia, Hungary, Poland, and Croatia with a team of 15 dedicated board members. Created in January 2008, the Orco Foundation chooses local associations for its social programs, working with transparency and diligent follow-up on the projects it supports.

The Orco Foundation also organizes and funds its own events that occur annually such as Children for Children (Deti pro Deti) which mobilizes children and families to help children with cancer. For example, on March 25th 2010 in Ostrava, Czech Republic, a benefit concert with the Janacek Philharmonic, a children's choir, and wellknown lyric artists, will raise money for the children's leukemia and hematology wing of local Poruba hospital, raising funds to employ a psychologist for families whose children have been diagnosed.

In 19 years of presence in Central Europe, Orco Property Group has not only brought architecturally innovative and esthetic buildings to cities in Central Europe, the company has actively supported charities that improve the quality of life of people in the region. The board of Orco Property Group voted in 2007 to unite the company's charitable activities in six countries under one roof – hence the creation of the Orco Foundation.

For detailed information on the Orco Foundation -- its missions, guiding principles, its team and actions, please visit the following website: www.orco-foundation.com

2- Market environment

The following section provides selected information on the real estate markets in Central and Eastern Europe, focusing on selected countries where the Company is active. The summary is provided for information purposes only and neither purports to cover all relevant issues nor to be a comprehensive description of all the topics discussed below.

The Czech Republic

Economic environment in the Czech Republic

Year-on-year real GDP decrease for the Czech Republic was -4.4 % in 2009, versus 2.5 % growth in 2008. The registered unemployment rate went up to 7.98% on average in 2009, vs. 5.45% in 2008 (Czech Statistical Office)

Real estate investment

In 2009, investment turnover in the Czech Republic reached EUR 400 Million in 2009, down 64 %, according to CB Richard Ellis. On the positive side, Q4 2009 investment turnover was the highest since Q3 2008. With the largest deals in terms of value being closed at the end of 2009, investment volume for Q4 2009 amounted to EUR 280 Million due to five transactions, representing 80 % of the 6 year quarterly average. Foreign purchasers accounted for 72% of total investment volume, with German investors being the most active.

Real estate market in the Czech Republic - Office

• For the whole year, take-up for office space has been resilient and totaled 245,000 sqm (only 7 % down on 2008)

• According to association Prague Research Forum the office space vacancy rate in Prague slightly increased to almost 12 % in the fourth quarter of last year, from 10.4 % at the end of the third quarter of 2009.
• Around 120,000 sqm of office space have been delivered in 2009 in Prague, according to CBRE. At the beginning of 2008, the pipeline for the Czech capital in 2009 was calculated at 300,000 sqm, but this was later significantly reduced due to the impact of the credit crunch.
• According to Jones Lang LaSalle there should be 85,000 m2 of newly completed leasable office space in Prague in 2010. This would represent the lowest value since 2011. As a result of the low number of projects that commenced this year the biggest gap in the offer may be seen in 2011. (CIA)
• Over the year the office segment saw the largest share of investment, accounting for 90 % of the total investment volume in 2009. The sale of City Tower for EUR 130 Million was the biggest transaction on the market in 2009. (Czech AM)
• Prime office yields for Prague kept on being stable at 7.25%, slightly increasing from 7% in Q4 2008 (JLL).

Real estate market in the Czech Republic - Retail

• According to Cushman & Wakefield the retail area in the Czech Republic totaled almost 190 m2 per 1,000 residents this represents 90 % of the Europe average. Given the speed of new construction, which almost matches the current European average, the company does not expect this value to change markedly before the end of 2010.
• Total modern retail stock (>5,000 sq m centers) in the Czech Republic stands at 2.73 Million sq m, Prague accounts for 33 % of total stock (DTZ)
• After almost 18 months of upward yield movement, prime yields look to have stabilized in Q3 2009 and stay around 7% versus 6.5% in 2008 (C&W)
• Prime rents in Prague's shopping remained stable at EUR 150/ monthly per sq m as of Q4 2009 (JLL)

Real estate market in the Czech Republic – Industrial

• Only 8,100 sq m of new supply was delivered in Q4 2009, a 65% drop q-o-q and 91% drop y-o-y; the only completion in Q4 2009 was VGP Park Liberec H5 (8,100 sq m) (DTZ)
• Prime industrial rents in Prague were at EUR 2/ sqm/ monthly as of Q4 2009, while prime yield reached 8.75% (JLL)

Real estate market in the Czech Republic – Residential development

• 2009 saw a drop in demand for new residential development units, thus generating a drop of 20% in selling prices on average (own estimates)
• In 2009 Czech developers focused on completing existing projects rather than starting new ones, therefore creating a drop in the pipeline for 2010- 11
• In Czech Republic, 38K dwellings have been delivered (+0.4% YoY) , 37K new dwellings have been started (-14.3% YoY ), and 24K occupancy permits delivered ( -9.11% YoY) (Czech Statistical Office)
• On the contrary, Prague displayed more resilient figures with 7400 completed dwellings (+16.9% YoY), 6400 dwelling started (-8% YoY) and 4700 occupancy permits delivered (-11.5%) (Czech Statistical Office)

Poland

Economic environment in Poland

• Out of the EU countries only Poland managed to sustain positive GDP growth over the course of 2009

Real estate market in Poland – Office

• Over the year, despite the turbulence, the Polish real estate market managed to remain one of the most stable in the region, without seeing any rapid decreases in values. According to CBRE's data, in 2009 the average vacancy rate on the Polish office market stood at 7%, while other CEE countries are faced with vacancy rates as high as 15-20 %
• In 2009 the modern office stock in Warsaw increased by 266,000 sq m, which was the highest volume of annual supply recorded since 2001. It has brought the total office stock in Warsaw to nearly 3.25 Million sq m (DTZ)
• The pipeline supply scheduled for completion in 2010 amounts to approximately 190,000 sq m. It is lower than in the previous 3-4 years due to problems in obtaining financing, experienced by developers since the end of 2008 (DTZ)

• Prime office yields in Warsaw remained around 7% ( 7.25% vs 7% YoY) (JLL)

Real estate market in Poland – Industrial

• The modern logistics market at the end of 2009 stood at the level of over 6.3 Million sq m, which represents some 18% growth on 2008 (DTZ)
• The construction activity in the opening six month of 2009 was very strong with 770,000 sq m delivered during that time. Majority of that space was delivered on speculative bases, which due to weaken demand resulted in the increasing vacancy towards the end of the year (DTZ)
• Prime industrial rents in Warsaw were at EUR 5.8/ sqm/ monthly as of Q4 2009, while prime yield reached 8.75%, representing a 3.3% YoY decrease (JLL).

Real estate market in Poland– Residential development

• 2009 saw a drop in demand for new residential development units, thus generating a drop of 20% in selling prices on average (own estimates)
• In 2009 Polish developers focused on completing existing projects rather than starting new ones, therefore creating a drop in the pipeline for 2010-11
• In Poland, over the year 160K dwellings have been completed, (-3.1% YoY ), and 143K dwellings have been started (-18.2% YoY)) (Polish Statistical Office)
• However, the number of new residences is predicted to decline by 10 to 20% in 2010. In 2011, according to the Association, the number of new dwellings will be down by additional 20% in comparison to the 2010 figures. (PAP)
• In Warsaw, 19K dwellings have been delivered (-0.4% YoY), 26K new dwelling have been started (- 15% YoY) and 28K occupancy permits have been delivered (-18,% YoY) (Polish Statistical Office)

Germany

Economic environment in Germany

• In 2009 GDP shrank for the first time in six years. The fall of 5% is the worst that Germany has had to bear since the post-War period (DTZ)
• The current forecasts from Oxford Economics already foresee a return to positive growth of 1.6% in 2010 with exports (+3.9%) being primarily responsible for this (DTZ)

Real estate market in Germany - Office

• For 2009 as a whole, office space take-up of about 445,000 sq m was registered in Berlin. That means take-up has fallen for the third time in a row. The difference to 2008 was 48,000 sq m or just under 10%. (DTZ)
• Compared nationally Berlin has stood up very well. The four other important German office markets have reacted far worse to the difficult economic conditions. They faced declines in take-up of between 28% (Hamburg) and 42% (Dusseldorf). (DTZ)
• Over the year as a whole 116,100 sq m newlybuilt or substantially refurbished space became ready for occupation in Berlin. This volume is slightly higher than that for 2008 (104,000 sq m) and slightly lower than that for 2007 (130,000 sq m) (DTZ)
• Prime office rents in Berlin were at EUR 20/ month/ sqm as of Q4 2009, representing 9.1% YoY decrease. Prime office rents in Düsseldorf were at EUR 22/ month/ sqm as of Q4 2009, representing 2.2% YoY decrease. (JLL)
• Vacancy rate for office space in Berlin represented 9.4 % as of Q4 2009 (vs. 7.3% in Q4 2008), while vacancy rate reached 12.3% in Düsseldorf (vs. 10.4% in Q4 2008) (JLL)

Real estate market in Germany - Retail

• JLL estimates the prime yields at 4.7% for Berlin retail space, meaning a decrease of more than 50 bp YoY
• Prime rents in Berlin's shopping remained at EUR 220/ monthly per sq m as of Q4 2009, same as in Q4 2008 (JLL)

Real estate market in Germany – Industrial

• Prime industrial rents in Berlin were at EUR 4.5/ sqm/ monthly as of Q4 2009, while prime yields reached 7.75% (vs. 7.45% in Q4 2008) (JLL).

Hungary

Economic environment in Hungary

• In 2009 as a whole the performance of the economy dropped by 6.3% (6.2% after calendar adjustment) after an expansion of 0.6% in the previous year. (Hungarian Statistical Office)
• Unemployment rate was at 10.1% in 2009, compared to 7.9% in 2008 (Hungarian Statistical Office)

Real estate market in Hungary- Office

• In total, 230,000 sq m office accommodation was delivered to the market between January and September 2009, and according to further completions in Q4, DTZ expects 2009 to have the highest new supply in the history of the Budapest office market. (DTZ)
• Due to the large amount of new supply and the low net take-up level, the vacancy rate increased by 171 basis points to 19.73%. (DTZ)
• Prime office yields in Budapest were at 7.75% in Q4 2009 (vs. 7.25 % in Q4 2008) (JLL)
• Prime office rents in Budapest were at EUR 20.5/ month/ sqm as of Q4 2009, representing 6.8 % YoY decrease (JLL)

Real estate market in Hungary - Retail

• JLL estimates the prime yields at 7% for Budapest retail space (vs. 6.5% in Q4 2008)
• Prime rents in Prague's shopping remained were at EUR 130/ monthly per sq m as of Q4 2009, representing a 13.3% YoY decrease (JLL)

Slovakia

Economic environment in Slovakia

Year-on-year real GDP decrease for Slovakia was -4.7 % in 2009. The registered unemployment rate went up to 12.1% on average in 2009, representing a 25.9% YoY increase. (Source: Slovak Statistical Office)

Real estate market in Slovakia – Residential development

• The Slovak Residential Market saw its worst year on record across the board with all the major developers. Speculators in the years 2005-2007 were making huge leaps of faith that Bratislava would become as big a city as Vienna, Prague, and Budapest. Therefore, developers began building in major volume and have now flooded a market that cannot take up the number of units, nor the prices inflated during the development stages.
• Developers throughout the city have now been forced to reduce prices to increase sales.
• Slovakia became a non-existent lending market during 2009.
• 2010 should be a better year as banks may restart to lend and at the same because of a lower number of available completed dwellings

Russia

Real estate market in Russia- Office

• Prime office yields in Moscow were at 12% in Q4 2009 (vs. 11 % in Q4 2008) (JLL)
• Prime office rents in Moscow were at USD 58.3/ month/ sqm as of Q4 2009, representing 50 % YoY decrease (JLL)
• Vacancy rate in Moscow was at 18.9% in Q4 2009, compared to 15.1% in Q4 2008

Real estate market in Russia - Logistics

• Moscow's warehouse market was significantly affected by the economic crisis
• The total stock of quality warehouse premises in Moscow region is slightly over 3.2 Million of which 746,000 sqm delivered in 2009 (CBRE)
• In 2009, many groups initiated aggressive "rightsizing" in face of the la strategies in face of the large amounts of speculative developed space left vacant. Occupiers are now looking to utilize less space and increase it sefficiency
• Total net absoption of quality warehouse space in 2009 was 505,000 sqm, making the vacancy rate go from 3.5% to 15.6%. However, according to CBRE, vacancy shoul stabilize in mid 2010 and then fall from H2 2010 to come back to normal vacancy rates of 6 to 7% over the next four years
• Prime rents declined through 2009 of 35% to USD 100/ sqm/ month triple net

Croatia

Economic environment in Croatia

• According to the flash estimate gross domestic product decreased in real terms by 5,8% in 2009, compared to 2008 (Croatian Statistical Office)
• Unemployment rate stood at 9.2% as of Q4 2009 (Croatian Statistical Office)

Hospitality market in Croatia

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• After being one of the top new destinations, with arrivals and bednights increasing between 2000 and 2005, Croatia and Dalmatia region showed a slowdown in tourism activity, with even a drop in bednights in 2006 and 2007. Split-Dalmatia region generated around 15% of the country's bed nights in 2008. After a 10.8% growth in bednights recorded in 2007, 2008 showed little increase with shorter average lengt of stay (3.5 night per stay).
• Hotel market in Hvar mostly consists of four star hotels, mainly held by Sunčani Hvar. New hotel projects on the island Hvar are still in planning phase and will not represent a threat to Sunčani Hvar in the near future, since they are mostly mixed-use projects (own research)

3- Commercial developments completed in 2009

This sections provides a detailed description of the ten commercial projects that were completed in 2009:

Sky Office is a 89-metre-high office tower located on Kennedydamm street in Düsseldorf, Germany. It is on the way from city-center to the airport, well connected to public transportation. The building offers a flexible leasable area of approx. 33 K sqm across 23 floors. Its occupancy as of December 2009 reached 65%, with tenants such as McKinsey, Lovells, EssArt, Dutch Consulate, etc. The project was financed through a EUR 100 Million loan maturing in 30.12.2010 plus a EUR 14 Million bridge loan which is expected to be refinanced in spring 2010..

H2 Office is located in the inner harbour of Duisburg. H2-Office comprises the second phase of the complete H2-project (phase 1 was finished in 2004 by Viterra and was sold). Occupancy in H2 Office as of December 2009 reached 23%, with tenants such as ERR European Rail Rent, VaPiano, and Chillies. Helaba has provided a 25m EUR senior credit line maturing in Dec 2010 and a 3m EUR bridge facility maturing in March 2010. The building is expected to be sold in spring 2010.

The Kursana Nursinghome in Gütersloh is a new nursing home with an integrated commercial unit. The construction was started in July 2008 and completed in September 2009. The building is completely let. The nursing home consists of approx 6,6 sqm net area and commercial-space of about 541 sqm rentable area. The nursing home possesses 135 rentable beds overall. The property is financed by a loan of approx. 8.450.000 EUR maturing at 31.12.2011.

The estate "Louise-Henriette von Oranien" in Oranienburg is a newly constructed building complex used in one part as a nursing home with 3 integrated commercial units and in a second part as a facility for assisted living with an ambulant care center. The construction was started in June 2008 and completed in July 2009. The nursing home, the integrated commercial units and the assisted living is operated by Michael Bethke Seniorenresidenzen GmbH. The ambulant care center is rented by the Ambulanter Krankenpflegedienst Michael Bethke. The building is fully let. The nursing home offers 123 beds overall. The senior assisted living houses offers 27 apartments. The property is financed by a loan of approx. 7.800.000 EUR maturing at 30.12.2013.

The estate Kervita Nursinghome in Rostock is a newly constructed nursing home. The construction started in June 2008 and was completed in July 2009. The nursing home is operated by KerVita Betriebs GmbH. The building is fully let. The property offers approx. 5.7K sqm rentable space on four levels with 139 nursing beds. The property is financed by a loan of approx. 6.900.000 EUR maturing at 30.12.2012.

Those 3 above nursing homes are expected to be sold in spring 2010.

Hradcanska is a refurbished office building located on Hradcanska street in Prague 6, Czech Republic. It is on the way from the city center to the airport, with very good connections to public transportation (located directly on top of a metro station). Hradcanska was acquired in 2007 as a destabilized asset and it has been refurbished by Orco as a prime asset. Construction works began in Q1 2008 and were finalized in Q1 2009. The asset offers a total leasable area of 10K sqm,. Occupancy as of December 2009 reached 36%, with average rent of EUR

14/sqm (office) and EUR 33/sqm (retail), main tenants being KB and DM Drogerie. The asset is financed with EUR 13 Million loan maturing in June 2010.

Palac Archa (Na Porici) is a refurbished block of buildings located on Na Porici street, downtown Prague, Czech Republic. The asset benefits from excellent transport links with trams and metro stops in close proximity.Orco refurbished it in two phases since 2007 until Q1 2009. The property now offers approx. 24 K sqm of prime leasable area (16.5K sqm office, 5K retail, 1.5 storage, 120 parking spaces). As of December 2009, the occupancy of Palac Archa reached 48.5%, with all the retail space being rented out. The asset is financed with EUR 36,5 Million development loan maturing in December 2010.

Vysocany Gate (Vysočanská Brána) is a a mixed use building located on the main junction of the Ceskomoravska and Sokolovska roadways in Prague, Czech Republic. The two routes provide the main exit roads eastwards from the city centre. The Metro B stations of Palmovka and Ceskomoravska are within walking distance from the site and there are several tram lines located at the front of the property. There are several new residential and commercial developments in the nearby area, as well as the Sazka Arena. The Property was constructed according to high specifications (inclusive of suspended ceilings and raised floors) between Q3 2007 and Q2 2009. Vysocany Gate offers a total leasable area of approx. 16.8 K sqm.The building is financed by the contractor. The building is expected to be sold in spring 2010.

Paris Department Store is located on Andrássy út, which is the most important and prestigious road in Budapest, Hungary. The Property comprises a six storey historical building, originally built in 1885, as a department store that has been classified as a national monument. It was the first building in Hungary purpose built to be a modern department store. In 2007, Orco undertook to refurbish the building and transform it to a modern office building with retail units on the ground & first floor and office space on the top floors. The refurbishment works were finished in May 2009 and the grand opening took place in November 2009. Paris Department Store boasts a total of 5.9K sqm leasablea area, out of which 1,7K sqm of retail space and 3.7 sqm of office space. Occupancy as of 2009 year end reached 35%, with Alexandra Bookstore being the main tenant. The asset is financed by EUR 16,6 Million loan maturing in 2011; yearly extension till 2016 if no breach.

Radischevskaya office building is located in downtown Moscow, Russia on Verkhnyaya Radischevskaya Str. The office building is situated in the Central Administrative District (CAD) of Moscow between the Boulevard Ring and the Garden Ring, in close proximity to Taganskaya metro station (5 minutes walk). Therefore the property benefits from good transport links both for pedestrians and private car owners. The accommodation within the Property is over 4 levels: lower ground floor, two upper floors and an attic. The building was constructed at the beginning of the 19th Century. In 2008, Orco started refurbishment works which were concluded in Q3 2009. Reconstruction works included facade restoration and beautification of internal courtyard. The Property is constructed on a corner site, with the main entrance to the rear, leading into a courtyard. There is surface parking in the courtyard of the building for 4 cars. The Property offers a total leasable area of approx. 1.7 K sqm, mainly office space. The building was still vacant as of December 2009. The property is financed by equity.

Peugeot is a car showroom and repair centre of 4,030 sqm in a prime Warsaw location. More precisely, it is located on Radzyminska Street which is the main road leading to the west of Poland and national road no.7. It is leased to Peugeot Polska, for a fixed term of 10 years with possibility to extend for a further 10 years. The annual rental revenue of PLN 1.8 Million (EUR 0.44 Million) with all service charges paid by the Tenant.

4- Residential projects completed in 2009

During 2009 the Company completed constrction works in 6 residential projects, which are listed below:

Plachta 3 is located in Hradec Kralove, Czech Republic approximately 120 km east of Prague. The Plachta scheme is a large residential development located approximately 2.5 km to the south-east of the town centre. It is also in close proximity to the residential area of Malsovice. Construction works were completed in three phases between 2004 and 2009. Phase 3 was completed in Q4 2009 and offers 89 apartment units. The scheme also incorporates 48 parking spaces and 78 cellar/storage areas. The project was financed through group's equity.

Michle (Tyršův Vrch) is located on the Magistru road, in the north of the Michle district, in Prague 4, Czech Republic. The site is approximately 3km from Prague city centre. The land use in the surrounding area is

predominantly residential. The property is accessible by tram and road links which lead to the city centre. Between Q1 2008 and Q2 2009, the building has undergone redevelopment. It comprises 49 apartments and 58 car parking spaces. The total net area of the scheme (including cellar space) is 3954 sqm. The project was financed by group' equity.

Kosik 3A (Slunecni Vrsek) is situated approximately 7.5 km south east of Prague city centre, near to the Hostivar district in Prague 10, Czech Republic. The site has good access links via K Horkam and a road connecting Hostivar to Chodov. The nearest public transport is a bus services with metro stops located to the south in Chodov and Opatov. This is a large & phased residential development for a capacity of approximately 1000 units. Construction works on phase 1 started in 2005. The latest phase, with a capacity of 233 units, was developed between Q2 2008 and Q3 2009. The project was financed by EUR 9 Million loan, maturing in 2011.

Nove Dvory is located approximately 4/5 km from Prague city centre, in the predominantly residential area of Prague 4. Construction commenced in Q3 2007 and lasted until Q2 2009. The completed scheme comprises 8,700 sq m of sellable area inclusive of 100 apartments and 100 car parking spaces, as well as terrace and cellar space. The project was financed by EUR 10 Million loan, maturing in 2011 and has already been fully repaid.

Benice 1A is situated between the villages of Benice, Cestlice and Pitkovice in the south east of Prague, approximately 13 km from the city centre. The site can be accessed fairly easily from Exit 6 of Highway D1. Construction works on phase 1 commenced in 2007. Phase 1 is divided into phase 1A and 1B. Phase 1A comprises 8 completed residential houses of total area of 2,112 sq m. Phase 1B comprises residential units constructed to a shell and core specification. Phase 1B also comprises an element of commercial and apartments units. The project was financed by EUR 9 Million loan, EUR 4 Million have been repaid in 2009, the rest will be repaid from sale of remaining units within maturity in 2010.

Feliz Residence/ Drawska is located in Ochota district of Warsaw, Poland. The development comprises a multifamily residential scheme inclusive of 40 apartments (4,417 sq m sellable area) and basement car parking for 44 parking spaces. The 4 storey buildings are finished to a high specification and incorporate intelligent and energy saving solutions. The project was developed between Q2 2008 and Q3 2009. The project was financed by EUR 4 Million loan, maturing in 2010.

Mokotowska comprises a site of 722 sqm, located on Mokotowska 59 street in the Śródmieście district of Warsaw, one of the City's most prestigious and prominent locations. Orco extended the building and put it through general refurbishment, which was concluded in Q2 2009. The accommodation within the building comprises 14 apartments with 14 covered car park places and 2 retail units on the ground floor. The total net area of the building amounts to 1837 sqm. The project was financed with the bank loan, fully repaid in 2009.

5- Ongoing Commercial developments

Vaci 1 (former Budapest stock Exchange) is located at the corner of the busiest shopping street, Váci utca and Vörösmarty tér in downtown Budapest, Hungary. The building was constructed between 1911 and 1915 and it comprises nine floors including a lower basement, a basement, a lower and an upper ground floor, a mezzanine level, and four upper floors. Orco purchased this building in 2005 and is currently refurbishing and converting it into a luxury department store with a restaurant on the roof. The works began in the spring of 2008 and are estimated to conclude in Q2 2011. After refurbishment, 11000 sqm. of net lettable retail accommodation will be available. Vaci 1 is already 19% pre-leased a. The project is financed through EUR 46 Million loan limit maturing in 2012; yearly extension till 2017 if no breach. Its market value as of December 2009 reached EUR 40.1 Million.

Molcom warehouse extension. The project is an extension of the current warehouse, which is located in the north-east of Moscow Region, within 14 km from MKAD via Yaroslavskoeshosse, close to Pushkino town. The Property comprises a green-field land plot of approximately 4 hectares. The land was designated for the development of a warehouse/ logistics complex (which is almost completed). The completed development will extend to a gross build area of approximately 20500 sq m of light industrial/ logistics accommodation. This phase should be completed in 2010. The new space is to be occupied by existing tenants of Molcom warehouse. The project is financed through USD16 Million loan maturing in 2015. The property's market value as of December 2009 reached EUR 7.5 Million.