Company Balkan Real Estate S.A.

Balkan Real Estate SA is a Greece-based Company and a member of Michaniki Group of Companies, which is engaged in the holding and real estate sector in the local and international markets. The Company invests in the development of urban and non-urban real estate premises, and in the construction of large-scale residential complexes, as well as in the exploitation and the management of such projects. Balkan Real Estate's subsidiaries include Michaniki Russia that operates in Bulgaria, Ukraine and Russia, Michaniki Egypt, and Michaniki Belarus. The Company also operates a wholly owned subsidiary in Cyprus under the name Balkan Holding Limited.