1. Quick overview Dr Herman J. Kok MRE Multi Development RCSC Russian Council Shopping Centers / MOLL Study tour Emirates, 24 th – 28 th February 2013 Quick overview Dr Herman J. Kok MRE Multi Development RCSC Russian Council Shopping Centers / MOLL Study tour Emirates, 24 th – 28 th February 2013

2. United Arab Emirates

4. Economic outlook 20112012-E2013-F2014-F2015-F GDP4,2%3,3%3,7%3,9%4,1% CPI inflation0,9%0,7%2,0%2,7%3,0% Current account9,1%10,5%6,3%4,7%4,2% Government balance6,2%8,5%5,9%5,7%6,2% Exports of goods (%)30,7%38,8%23,9%19,2%18,4% Imports of goods (%)22,8%14,9%13,0%10,0%9,0% Source: Oxford Economics

5. Main oil fields in UAE

6. Etihad railway project

7. Shopping center supply in GCC Source: Alpen Capital

8. Shopping center supply in UAE Source: JLL

9. Dubai

10. Dubai – population

11. Dubai main development trends Mohamad Bin Rashid City – MBRC (Emaar & Dubai Properties) Jebel Ali, featuring five theme-parks (Meraas) Al Maktoum International Airport (Dubai World city) operational in 2013 Jebel Ali Free Zone (JAFZA): Middle East’s largest free zone

12. Metro system Dubai

13. Master plan Dubai – key projects

14. Metro system plan

15. Dubai – shopping center stock Source: JLL

16. Dubai – composition shopping center stock Source: JLL

18. Abu Dhabi

19. Abu Dhabi Vision 2030 Source: Abu Dhabi Vision 2030

20. Abu Dhabi – population

21. Abu Dhabi Vision 2030 Source: Abu Dhabi Vision 2030

22. Human City Source: Abu Dhabi Vision 2030

23. Public transport and infrastructure Source: Abu Dhabi Vision 2030

24. Abu Dhabi – shopping center stock Source: JLL

25. Abu Dhabi – composition shopping center stock Source: JLL

27. Dalma Mall 148,000 m2 GLA Opening October 2012 Owner: The Developers LLC 536 units

28. Marina Mall 126,000 m2 GLA Opened March 2001 Owner: National Investment Corporation Number of stores: 405

29. Khalidiya Mall 46,000 m2 gla Opened in december 2007 Owner: Line Investment & Property LLC Architect: Apollodore

30. Al Wahda Mall 140,000 m2 gla including extension (2012) Opened in May 2007 375 stores Owned by Line Investment & Property LLC

31. Abu Dhabi Mall 220,l000 gca Opened in 2001 220 stores Owned by H.H. Sheikh Suroor Bin Mohammed Al Nahyan