Georgia Residental Real Estate Contract

							Koger & Partnerid
company presentation




   February 2008
Koger&Partnerid on the map
Koger&Partnerid, facts

►   Is one of the very first privately owned construction companies
    established in Estonia after the collapse of Soviet regime
►   Was established in 1989
►   Working under current name since 1999 (previously known as
    Koger Sumberg)
►   Working is in accordance with following quality standards:
    ISO9001; ISO18001; ISO14001
►   Have offices in 3 countries: Estonia, Latvia, Bulgaria
►   Has managed construction projects in following countries:
    Belgium, Bulgaria, France, Georgia, Germany, Latvia and
    Norway
►   Majority share-holder Mr. Andres Koger (97%)
    Koger&Partnerid, facts


►    Currently the fourth largest construction group in Estonia in terms
     of turnover
►    Main business is construction project management and main
     contracting.
►    Employs only construction management stuff. No construction
     workers on payroll.
►    Has daughter companies in road construction, environmental
     construction, hydro construction, architecture and design.
►    Has ca 300 emloyees
►    In addition to construction activities is also involved in real estate
     development and investment
►    Group turnover in 2007 was 86 MEUR and profit 7,5 MEUR
Koger & Partnerid
Consolidated turnover & profit, MEUR
                        Turnover

 100                                      86
  90
  80
  70             51                57
  60      43
  50
  40
  30
  20
  10
     0

         2004    2005              2006   2007


                          Profit

 8
                                          7,5
 7
 6
                                   4,35
 5
 4
 3
 2       0,4     1
 1
 0
         2004   2005               2006   2007
    Main services provided

Engineering and construction project management
►    Project management contract for design and construction will be prepared
►    Ordered works will be carried out within agreed period or capacity
►    Project management fee and construction costs are calculated on the basis
     of open invoices


Full-liability project management
►    Fixed-price project management contract for design and construction will be
     prepared
►    The project manager has 100% liability for the construction cost established
     by the contract


General (main) contracting
►    A fixed-price general contract for construction will be prepared
►    General contractor will carry out construction works
►    The project manager has 100% liability for the construction cost established
     by the contract
Examples of contracts from 2007 (Estonia)
External orders:
►   Mustamäe Gymnasium                             5 MEUR
►   Kiili school                                   3 MEUR
►   Hotel Olümpia renovation                       5 MEUR
►   Hotel Central renovation                       1 MEUR
►   Embassy of Estonian Republic in Paris          2 MEUR
►   Alexela Oil terminal                           15 MEUR
►   SA PERH regional hospital                      37 MEUR
►   Sillamäe Oil terminal                          8 MEUR
►   Vest Tank Oil terminal                         6 MEUR
►   Kurtna kindergartenden                         5 MEUR


Residental developments within Group
►   Kuldala residential area III and V phase       10 MEUR
►   Sipelgapesa residential area, houses 6 and 8   9 MEUR
►   Jüri terraced houses                           5 MEUR
►   Tööstuse 47a (Volta)                           7 MEUR
    Real Estate Development

►    One of the leading residental developers in Estonia
►    Over time developed more than 2 000 apartments in Estonia and
     Latvia
►    Wide experience and well proven co-operation network
►    Able to manage the full process starting from land purchase and
     ending with property management
Examples: Kuldala residential area

Kuldala pilt   ►   Development in five phases from 2005
                   to 2008
               ►   418 apartments
               ►   Total sellable area 29 000 m2
Examples: Uus-Tatari apartment house

               ►   45 apartments + commercial areas
               ►   Total sellable area 2 792 m2
Examples: Sipelga residential area

                ►   Development in five phases from
                    2007 to 2009
                ►   450 apartments + commercial areas
                ►   Total sellable area 31 500 m2
Examples: Volta residential area

                 ►   Development in 8 phases, from
                     2007 - 2015
                 ►   150 000 m2 under development
                     (70% residental, 30% commercial)
Examples: Jüri terraced buildings

►   Total 81 boxes, 8 328 m2 sellable area
►   Development in different phases according to demand
Examples: Aplociems apartment area in Riga


                    ►   236 apartments
                    ►   Total sellable area 15 300 m2
Examples: Delta Hill ecological village, Kladnica


►   Main contractor and project management during the 1st phase
    of construction
►   Cleaning station, electricity-, water-, sewage- and road
    networks for the future village
►   Subcontractors: “PatStroy 92” Jsc., “Chacks” Ltd,
    “Raicommerce”Jsc., “ProjectStroyEngineering TP” Corp.
Examples: Estonian Embassy in Bulgaria

►   Main contractor
►   Project with special requirements towards
    safety and security
Examples: residential building in Boyana district


►   Main contractor and project management
►   Sellable area: 7300 m2
 Contacts


“Koger & Partners” OOD
1303 Sofia, 98 Pirotska St, 1st floor
tel: +359 2 93 11 858
fax: +359 2 93 11 585
www.koger.ee