AFI Development announces Eli Avrahampour to its Board of Directors as Non-Executive Chairman

– RUSSIA, Moscow – AFI Development PLC (LON:AFRB) announces that its Board of Directors accepted the resignation of David Tahan from the position of Non-Executive Director and Chairman, with effect from 1 January 2019.

The Board appointed Elias Ebrahimpour (Eli Avrahampour) as a Non-Executive Director and Chairman to replace Mr Tahan, effective from 1 January 2019.

About Eli Avrahampour

Eli Avrahampour is currently an economist and advisor on corporate finance and private markets to Deloitte LLP in London. Formerly, he worked as the First Vice President of Meryll Lynch UK and a Managing Director for Europe, Middle East and Africa at Citibank UK. Mr Ebrahimpour holds a BA in Economics, Philosophy and Political Sciences from the Hebrew University in Jerusalem, Israel.

About AFI Development

Established in 2001, AFI Development is one of the leading real estate development companies operating in Russia.

AFI Development is listed on the Main Market of the London Stock Exchange and aims to deliver shareholder value through a commitment to innovation and continuous project development, coupled with the highest standards of design, construction and quality of customer service.

AFI Development focuses on developing and redeveloping high quality commercial and residential real estate assets across Russia, with Moscow being its main market. The Company’s existing portfolio comprises commercial projects focused on offices, shopping centers, hotels and mixed-use properties, and residential projects. AFI Development’s strategy is to sell the residential properties it develops and to either lease the commercial properties or sell them for a favorable return.

AFI Development is a leading force in urban regeneration, breathing new life into city squares and neighborhoods and transforming congested and underdeveloped areas into thriving new communities. The Company’s long-term, large-scale regeneration and city infrastructure projects establish the necessary groundwork for the successful launch of commercial and residential properties, providing a strong base for future.

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