ZURICH GENEVA NEW DELHI

INDIA RETAIL ASSET PORTFOLIO

May, 2012

PROJECTSOVERVIEW

Raipur, City Overview

3 CITYOVERVIEW** Population(000s,200809) PopulationGrowth(%,200809) Incomepercapita(Euros) Savingspercapita(Euros) CityAvg.RentalValues(Eurospsfpm) RetailMarketMaturity **SourceJLLM RaipuristhestatecapitalcityofChhattisgarh,thetenthlargeststateinIndia IstheonlyPowerSurplusstateinIndia;aprominentiron&steeltradinghubwithoneofthebiggestIndianironmarkets Traditionally an agricultural hub famous for agricultural processing and saw mills, it has emerged as one of the most important regional commercialandindustrialcentresforpowergeneration,steel,aluminiumandcoalindustries Islocatedintheheartofthestate,andoccupiesastrategicpositiononnationaltransportnetwork. KnownastheRiceCapitalofIndia,withover300ricemillingplants MostpopulacecityinChhattisgarh,havingmultilingual/multireligionpopulationcomposition 1,166 3.4 1,155.6 219.7 0.901 Nascent

0.8msfRetail(Leasable)
A mixeduse asset with a total projected builtup area of 0.65msf spread across 7.5 acres, comprising ofretail,commercialofficeandhotel Located on the main Bypass road and well connected to the catchment area of over 1mn people. Firm commitments from 8 Anchors and mini anchors including hypermarket and a huge Family EntertainmentCenterspreadover0.1msf.

Treasure Island, Raipur

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TreasureIsland,Raipur
Expected Delivery(PhaseI) CurrentLeasingStatus NumberofStores
August2012 70%

350

Exchange Rate: US$ 1 = INR 50

* Plus Revenue Share %

Treasure Island, Raipur Construction Photos

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Bhilai City Overview

6 CITYOVERVIEW** Population(000s,200809) PopulationGrowth(%,200809) Incomepercapita(Euros) Savingspercapita(Euros) CityAvg.RentalValues(Eurospsfpm) RetailMarketMaturity **SourceJLLM Bhilai,thesteelcityisthesecondlargestcityinthestateofChhattisgarh EmergingasanexcellenteducationalcentreinChhattisgarhandMadhyaPradesh A new city is taking shape in the Northern region, due to easy land availability and traditional holding in the southern part ofthecitybytheBhilaiSteelPlant Work on road development and a commercial airport is in progress; the city Is showing a healthy growth rate because of increasing industrialization Withprivatehousingsocieties/townshipsbeingplanned,andwithlimitedorganizedretaildevelopmentinthecity,themarketiswell poisedforagradeAretailcomplex. 1,254 3.4 837 204 0.69 Nascent

0.4msfRetail(Leasable);
A mixeduse asset with a total projected builtup area of 0.4msf spread across 5.0 acres, comprising ofretailandcommercialoffice The Primary catchment in the City with no malls operational. Firm commitments from 8 Anchors and mini anchors including hypermarket and multiplex. F&B zonesandFECoperatoralsofinalized.

Treasure Island, Bhilai

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TreasureIsland,Bhilai
ExpectedDelivery(PhaseI) CurrentLeasingStatus NumberofStores
September2012 77%

150

Exchange Rate: US$ 1 = INR 50

* Plus Revenue Share %

Treasure Island, Bhilai Construction Photos

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Chandigarh, City Overview

9 CITYOVERVIEW** Population(000s,200809) PopulationGrowth(%,200809) Incomepercapita(Euros) Savingspercapita(Euros) CityAvg.RentalValues(Eurospsf pm) RetailMarketMaturity **SourceJLLM 955 2.4 2218 622 1.01 HighGrowth

ChandigarhservesasthecapitaloftwostatesPunjabandHaryana ChandigarhisthebestplannedcityinIndia,withunparalleledqualityoflife Chandigarh is rated as the wealthiest city of India, 6th most prosperous city, topped the list of The Big Spenders, Auto Giants andLifestylepersonalhygieneproducts(IndiaTodaySurvey) ChandigarhisthebestchoiceforshoppersinsurroundingstatesofPunjab,Haryana,HimachalPradesh The area boasts a high standard of living with the highest per capita income in the country and tops the list of Indian States withaHumanDevelopmentIndexof0.674

0.6msfRetail(Leasable);
A premium retail asset with a total projected builtup area of 0.4msf spread across 4.0 acres, comprisingofretailluxurybrands TheMallwillactasthelaunchplatformforleading international premium and luxury brands such as Burberry,Diesel,Canali,ZaraandGuess Strong response to the retail offering due to excellent location and internationally acclaimed designs.

Treasure Island, Chandigarh

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TreasureIsland,Chandigarh
ExpectedDelivery(PhaseI) CurrentLeasingStatus NumberofStores
March2013 25%

160

Exchange Rate: US$ 1 = INR 50

* Plus Revenue Share %

10

Treasure Island, Chandigarh Construction Photos

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Jabalpur, City Overview

12 CITYOVERVIEW** Population(000s,200809) PopulationGrowth(%,200809) Incomepercapita(Euros) Savingspercapita(Euros) CityAvg.RentalValues(Eurospsf pm) RetailMarketMaturity **SourceJLLM 1,391 1.8 577 233 0.782 Nascent

AnimportantregionalcentreofMadhyaPradeshandiswellconnectedbyroadandrail;emergingasaneducationalhub Jabalpurisalsooneofthehighestincometaxpayingcities JabalpuristhefirstdistrictinthecountrytoobtainacomprehensiveISO9001certificateeffectiveApril1,2007 Jabalpur is a well spread city, growing in all directions along the main transportation corridors like Narmada Road, Damoh Road,NH7towardsKatni,NagpurRoadandMandlaRoad Limitedcompetitionforretaildevelopmentswithhighpotentialforgrowth

0.5msfRetail
A mixed use asset with a total projected builtup area of 0.4mn sq.ft. of retail and 0.05mn sq.ft. of residentialspace Located in the primary catchment area of the City withjustoneorganizedretailcenter.

Treasure Island, Jabalpur

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TreasureIsland,Chandigarh
ExpectedDelivery(PhaseI) CurrentLeasingStatus NumberofStores
June2013 20%

140

Exchange Rate: US$ 1 = INR 50

* Plus Revenue Share %

13

Treasure Island, Jabalpur Construction Photos

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Indore, City Overview

15 CITYOVERVIEW** Population(000s,200809) PopulationGrowth(%,200809) Incomepercapita(USD) Savingspercapita(USD) CityAvg.RentalValues(USDpsf pm) RetailMarketMaturity **SourceJLLM IndoreisthecommercialcapitalofMadhyaPradeshandisthehubofbusiness/tradingactivityinCentralIndia ProminenthubfortheautomobileandalloysteelindustryincentralIndia IsamajoreducationalhubofCentralIndiawithpremiermanagementinstituteslikeIIM,SGITSand27engineeringcolleges OngoingplanstodevelopaSuperCorridortoimproveconnectivitybetweeneasternwesterncorridors Thecityisexpectedtohavealargeinfluxofpeopleinthenextfewyears,asaresultofwhichdemandforretailresidentialreal estateisforecastedtobepositive 1,166 3.4 1,583 301 1.235 HighGrowth

1.0msfRetail(Leasable);1.0msfCommercial(Ph1and2incl.)
A mixeduse asset spread across 19.5 acres with a total projected builtup area of 0.8msf Firm commitments from 10 Anchors and minianchors; hypermarket and multiplex and a huge Family Entertainment Center and F&Bzones

Treasure Market City, Indore

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TreasureMarketCity,Indore
ExpectedDelivery(PhaseI) CurrentLeasingStatus NumberofStores
June2013 50%

250

Exchange Rate: US$ 1 = INR 50

* Plus Revenue Share %

16

Treasure Market City, Indore Construction Photos

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