Russian property builder AFI Development has seen its Net Asset Value per share fall by 60% over the past six months to $4.82, from $12.11 at end-June 2008. On Tuesday, the company reported a loss of $107.86 mln in 2008 compared with a profit of $215.6 mln at end-2007. The company's investment portfolio, appraised by Jones Lang LaSalle, is currently valued at $2.47 bn, down by 58% since 30 June 2008 and 53% since 31 December 2007.
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