Soravia Multi-Country Commercial Development Project

completed

Soravia Real Estate Development GmbH (SRED) is the recently formed, commercial real estate development arm of the Austria-based Soravia Group (the Group or the sponsor). SRED identifies, evaluates, builds and sells real estate projects in Austria, Slovakia, Estonia, the Russian Federation, Romania, Bulgaria, Serbia, Macedonia, Montenegro and Ukraine. SRED’s intended buyers are third party real estate investment funds, although, on a selective basis, some properties may be sold, on an arm’s length basis, to Soravia Properties GmbH, the properties company within the Group.The proposed Project consists of an investment program to be implemented by SRED and comprises a series of commercial real estate development projects (sub-projects) located in Macedonia, Serbia, Romania, Bulgaria and Ukraine (the Target Markets). SRED’s current pipeline includes 7 planned developments in retail, offices, hotels and mixed-use properties in the Target Markets at an advanced stage (i.e., land has been purchased for each of these sub-projects) and 5 further office developments are at an early stage (i.e., land has been identified but not yet purchased).