Executive Summary
Founded in 1993 in Budapest (Hungary), Ablon Group has properties at 34 locations, of which there are 15 completed projects and 19 development projects in Budapest, Prague, Bucharest, Warsaw and Gdansk. Its portfolio comprises a diversified mix of office, residential, retail, logistics and hotel developments valued at EUR525 million by external independent appraisers (GVA and King Sturge), as at 31 December 2009. Ablon has, to date, approximately 177,090 square metres of existing and income generating office and retail assets (at 13 locations) in Budapest and Prague, with a significant development land bank comprising a further 1,273,230 square metres (at 24 locations) in Budapest, Prague, Bucharest, Warsaw and Gdansk. Ablon's shares are traded on the AIM market of the London Stock Exchange under the ticker 'ABL'.
The Group benefits from its close relationship with the Volksbank Group, which owns one of the largest banks in Austria, and which has provided through Investkredit, and formerly Volksbank, financing for all of the Group's developments since October 1996 and has been an indirect major shareholder of the Group since July 1997. Since 1994, the Group has successfully completed properties at 13 locations comprising 15 Completed Projects (including two Completed Projects that have been sold) and currently has properties at 19 locations comprising 34 Development Projects (including properties being developed in multiple phases).
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