Lastochkino Gnezdo Project Presentation
Multiple generations of growth opportunity
22mn
Total # of households in
target market
6300
12%
MMA and SPMA are the most attractive residential markets in Russia
MMA & SPMA - most
populated Russian
regions...
Total: 142mn(4)
Potential demand estimation (ths. households)
Potential demand estimation (mn sqm)
50
45
8000
1700
40
35
85%
MMA SPMA Other
...with growing
demand for residential
real estate
Population growth/
(decline) in 2007-2010(4)
Households with income
within target price-range
Households planning to
improve living conditions
Satisfied households
56% (8)
Households with preference
for primary market
622
Secondary preference
1.3%
Indicative
0.6%
Regional demand
0.4%
potential
market(3)
622
Investment demand
■Secondary prefernce
30
Higher
1852
Lower
income
income
25
20
Opportunity gap
60% (7)
15
1111
10
5
3.3
2.7
3.2
Béliveric
0
2008
2009
2010
201
Potential demand
households * 75 sqm = 46.7 mn sqm
622
SPMA MMA
MMA SPMA Other
The above set of simple assumptions further supports the existence
of significant unsatisfied demand for value-added housing in MMA and SPMA
(1)Company estimates based on Rosstat's methodology and data; includes additional demand from mortgage users share of sales with mortgage in total sales is 12%, according to MER (assuming no overlap between mortgage and instalments
customers); (2)1H2010 new supply volume of Middle Class residential properties on the primary market, according to MIAN and SPb Realty, converted from sqm into housing units, assuming that 1 flat = 85.3 sqm (average flat size in Russia in
2009, Rosstat)); (3)The demand structure shown on the pie chart is for indicative purposes; (4) Rosstat data as of January 2010; (5) Residential real estate commissioning, excluding individual construction; (6) Calculated as residential real estate
commissioning volume in 2009 (excluding individual construction) multiplied by average real estate RUR prices on the primary market in 2009 and divided by end of period official CBR RUR/US$ exchange rate in 2010 (RUR/US$ 30.5); (7)60% of
households plan to improve living conditions (source Rosstat; Comcon, 2010); (8)56% of consumers prefer primary vs. secondary residential real estate market (Source -Metrinfo survey in Moscow, 1H 2010)
Etalon Group
08
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