07 June 2013

Potential Investment in Oncology Centers in Moscow Under Consideration

  • Press Release

London, 7 June 2013 – AFI Development announces that on Sunday, 9 June 2013, its Executive Director, Mr Mark Groysman, will speak at the "Moscow Days in Israel" economic conference in Tel Aviv, where he will discuss plans for a new potential business initiative of the Company.

Mr Groysman will announce that the management of AFI Development is considering the potential to invest into development of oncology centres in Moscow. These centres are planned to be equipped with cutting-edge medical equipment for diagnosis and treatment of oncological diseases. Should the Company adopt and approve the programme, the investments could reach US$100 million.

For further information, please contact:

AFI Development, +7 495 796 9988
Ilya Kutnov
Ekaterina Shubina

Citigate Dewe Rogerson, London +44 20 7638 9571
David Westover
Sandra Novakov
Reena Mavjee

About AFI Development

AFI Development is one of the leading real estate development companies operating in Russia. Established in 2001, AFI Development is a publicly traded subsidiary of Africa Israel Investments Ltd.
AFI Development is listed on the Main Market of the London Stock Exchange and aims to deliver shareholder value through a commitment to innovation and continuous project development, coupled with the highest standards of design, construction, and quality and customer service.

AFI Development focuses on developing and redeveloping high quality commercial and residential real estate assets across Russia, with Moscow being its main market. The Company's existing portfolio comprises commercial projects focused on offices, shopping centers, hotels and mixed-use properties, and residential projects. AFI Development's strategy is to sell the residential properties it develops and to either lease the commercial properties or sell them for a favorable return.

AFI Development is a leading force in urban regeneration, breathing new life into city squares and neighborhoods and transforming congested and underdeveloped areas into thriving new communities. The Company's long-term, large-scale regeneration and city infrastructure projects establish the necessary groundwork for the successful launch of commercial and residential properties, providing a strong base for future.

Legal Disclaimer

Some of the information in these materials may contain projections or other forward-looking statements regarding future events, the future financial performance of the Company, its intentions, beliefs or current expectations and those of its officers, directors and employees concerning, among other things, the Company's results of operations, financial condition, liquidity, prospects, growth, strategies and business. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might" or the negative of such terms or other similar expressions. These statements are only predictions and that actual events or results may differ materially. Unless otherwise required by applicable law, regulation or accounting standard, the Company does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia and market change in the industries the Company operates in, as well as many other risks specifically related to the Company and its operations.

pack banner inner