2011 trends in baton rouge real estate

7/23/2019 2011 TRENDS in Baton Rouge Real Estate

1/45

W6

JKDY@DYZY]@DIZ =766

Bodfdj` Y]@DIZ Mrofd Fdir`ws =Fdir`ws Jknn`rjofl Nkrtcfc`

Nulto.Bfnoly Y]@DIZ I$ S`sl`y Nkkr`, OO, NFO, JJON 6:

Jkka, Nkkr` " Fsskjoft`s

Kbboj` Y]@DIZ Mrfdkd W`sd`ll, JJON, ZOK] :6 M`fu Mkx ]`fl @stft`

]`soi`dtofl Y]@DIZ Ykn Jkka, NF 90Jkka, Nkkr` " Fsskjoft`s

Odiustrofl Y]@DIZ Ykii W`v`y, NWF 2=NO@ Wrkp`rto`s

]`tfol Y]@DIZ Ekhdfthfd Sfla`r, JJON 3: Nf`stro.Nurr`ll

Jkpyrochtì =766 Jknn`rjofl Odv`stn`dt Iovosokd kb th` Cr`ft`r Mftkd ]kuc` Fsskjoftokd kb ]@FLYK]Z$ Dk pfrt nfy m` r`prkiujì kr r`trfdsnottì

wothkut th` `xpr`ss wrott`d p`rnossokd kb th` Jknn`rjofl Odv`stn`dt Iovosokd kb th` Cr`ft`r Mftkd ]kuc` Fsskjoftokd kb ]@FLYK]Z $ Fll kpodokds `x

h`ròd fr` thks` kb th` wrot`rs fdi shkuli dkt m` r`loì upkd wothkut jkdsultftokd woth ykur kwd odv`stn`dt fivoskr, fttkrd`y, fjjkudtfdt kr tfx fivoskr$


2/45

W= W:

BODFDJ@Y]@DIZ Y]@DIZ =766

Mfdas fdi throbts jkdtodu` tk hkli th` nfekroty kb jknn`rjofl r`fl stft` i`mt od th` Pdotì

Ztft`s fs kb th` bkurth qufrt`r kb =766$ Z`jurotozì l`di`rs hkli th` s`jkdi lfrc`st po`j`

`v`d thkuch th`r` hfv` m``d nodonfl d`w krocodftokds iurodc th` y`fr$ Fc`djy fdi [email protected]ì

nkrtcfc` pkkls hkli th` thori pksotokd, bkllkwì my lob` odsurfdj` jknpfdo`s, ckv`rdn dt fdi

kth`r l`di`rs$

Zku

Lob Jk

knn`rjoflMy O

rj`5 NMF Jknn`

JNMZ, &JIK &fdth`r &FMZ&ossu

=2$6

` &Odsurfdj` &pfdo`s, &6=$2

K

l Nultobfnodv`stkr Crk

rjofl+Nultobfnoly

Ztft`Ckv`r

di &`s, &

th`rs, &67$=

ly Nkrtcfcup, Bkurth

Nkrtcfc` I`mt K

Fc`dmfja`

pk&fdi &Lkjfl &dn`dt, &:$8

` I`mt Kutsufrt`r =767

utstfdiodc, Bkurt

Mfdas &fdi &Y::$3

y&fdi &CZ@-i &nkrtcfc` &kls, &6:$2

tfdiodc

h Vufrt`r =767

hrobts,&

D`t Jhfdc` od Jknn`rjofl fdi Nultobfnoly Nkrtcfc` I`mt Kutstfdiodc my Vufrt`r ()nollokds/

Yh` odt`r`stodc tr`di os th` jhfdc` od i`mt kutstfdiodc whojh shkws lkw`r mflfdj`s od th`

fccr`cft`$ Nultobfnoly mflfdj`s odjr`fsì slochtly whol` v`rythodc ls` wfs od socdobojfdt

i`jlod`$

FDJ@ Y]@DIZOYY@@M@]Z

Z$ Fdir`ws, JNMws Jknn`rjoflstft` Z`rvoj`s,`r/

y A`hk`s Jknn`rjofl

fc`,

kkiskdMftkd ]kuc`pn`dt Futhkroty

ts brkn LZPsKursk Jkll`c`

usod`ssj` I`pfrtn`dt$


3/45

W= W0


D`t Jhfdc` od Jknn`rjofl fdi Nultobfnoly Nkrtcfc` I`mt Kutstfdiodc my Z`jtkr, Bkurth Vufrt`r =767 ()nollokds/

Shol` tktfl kutstfdiodcs fr` ikwd, th` nox wothod th` s`jtkrs hfs jhfdcì$ Mfda mflfdj`s fr`

ikwd qufrt`r kv`r qufrt`r fdi s`jurotozì l`diodc os ikwd socdobojfdtly fs thft odiustry hfs

y`t tk r`jkv`r$ Nultobfnoly l`di`rs hfv` odjr`fsì mflfdj`s fdi Ztft` fdi Lkjfl Ckv`rdn`dt

l`diodc os up$


4/45

W2 W3

ODY@]@ZY ]FY@ PWIFY@

Blkftodc ]ft` Odi` `s . Yh` Wron` ]ft` r`nfodì ft :$=0% bkr th` `dtor` y`fr fs th` Bì`rfl

Budis ]ft` r`nfodì d`fr z`rk kv`r th` sfn` p`roki$

Od thòr Nfrjh =766 @jkdknoj Bkr`jfst, th` Nkrtcfc` Mfda`rs Fsskjoftokd prke`jtì blft

r`sults bkr Wron` fdi Bì Budis thrkuch th` di kb =766$

Lkdc Y`rn Bo ì ]ft` Odi` Yh` m`djhnfra 67._`fr Yr fsury rft` m`cfd =77? ft =$0=%

fdi rks` tk :$0?% my y`fr di$ Yh` Nkrtcfc` Mfda`rs Fsskjoftokd prke`jts f 07 mfsos pkodt

odjr`fs` od th` 67._`fr Yr`fsury thrkuch =766 fdi nodkr odjr`fs`s od =76=$

Fv`rfc` Nkdthly Wron`, Bì Budis fdi :7.Ify LOMK] ]ft`sEfdufry =772 thrkuch B`mrufry =766

Zkurj`5 Bì`rfl ]`s`rv`

7

6

=

:

9

0

2

3

8

?

E f d -

7 2

F p r -

7 2

E u l - 7 2

K j t - 7 2

E f d -

7 3

F p r -

7 3

E u l - 7 3

K j t - 7 3

E f d -

7 8

F p r -

7 8

E u l - 7 8

K j t - 7 8

E f d -

7 ?

F p r -

7 ?

E u l - 7 ?

K j t - 7 ?

E f d -

6 7

F p r -

6 7

E u l - 6 7

K j t - 6 7

E f d -

6 6

Wron`

Bì &Budis

:7 -Ify &LOMK]

$$ $

$

5

=

=$0

:

:$0

9

9$0

0

0$0

E f d

- 7 2

F p r -

7 2

E u l - 7 2

K j t - 7 2

E f d

- 7 3

F p r -

7 3

E u l - 7 3

K j t - 7 3

E f d

- 7 8

F p r -

7 8

E u l - 7 8

K j t - 7 8

E f d

- 7 ?

F p r -

7 ?

E u l - 7 ?

K j t - 7 ?

E f d

- 6 7

F p r -

6 7

E u l - 6 7

K j t - 6 7

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- 6 6

67 &_`fr -PZY

67 _`frJkdstfdt Nfturot

Yr`fsury ]ft`sEfd$ =772 . B`m$

Zkurj`5 Bì`rfl ]`s`rv`



5/45

W8 W?

L@DI@] PWIFY@

]`flty]ft`s$jkn 9th Vufrt`r =767 Odv`stkr Zurv`y kb p`rnfd`dt l`di`rs shkws th` bkllkwodc

pr`b`r`dj`s kb prkp`rty typ`s5

Yh` ]`flty]ft`s$jkn surv`y odiojft`s p`rnfd`dt lkfd projodc fs bkllkws fs kb th` bkurth

qufrt`r kb =7675

$5

Zkurj 5 ] flty]ft s$jkn

$5

Zkurj`5 ]`flty]ft`s$jkn

W]KC]FN ZWKYLOCHY

Yh` @fst Mftkd ]kuc` ]ì`v`lkpn`dt Futhkroty Fbbkrifml` Hkusodc Cfp Bodfdj` Wrkcrfn

Yh` @fst Mftkd ]kuc` ]ì`v`lkpn`dt Futhkroty

(]IF/ Fbbkrifml` Hkusodc Cfp Bodfdj` Wrkcrfn

(CFW.F/ os i`socdì tk prkvoi` cfp budiodc bkr

noxì odjkn` r`fl stft` i`v`lkpn`dt prke`jts$

CFW.F woll prkvoi` p`rnfd`dt nkrtcfc` budis bkr

fjquosotokd fdi i`v`lkpn`dt kb prkp`rty wothod

fd ]IF.oi`dtoboì tfrc`t fr`f$ Fd fttfodfml`

r`dtfl udot os i`bodì fs f r`soi`dtofl r`dtfl udot

od whojh th` fddufl r`dt ik`s dkt xj`ì thorty p`rj`dt (:7%/ kb th` fddufl hkus`hkli odjkn`,

bkr thks` hkus`hklis thft `frd f nfxonun kb 87 p`rj`dt kb Fr`f Nìofd Odjkn` (FNO/$ Bkr

@fst Mftkd ]kuc` Wfrosh, th` =766 FNO os )27,277$ Yh`r`bkr`, th` nfxonun r`dts bkr fttfodfml`

r`dtfl udots fr` fs bkllkws1 @bbojo`djy5 )2:8, Kd` Mìrkkn5 )2?9, Ywk Mìrkkn5 )876, Yhr``

Mìrkkn5 )6,7=6, Bkur Mìrkkn5 )6,6=:$

W]KC]FN BPDIODC . Jknnudoty I`v`lkpn`dt Mlkja Crfdts (JIMC/ fllkjftì tk @fst

Mftkd ]kuc` Wfrosh bkr fbbkrifml` r`dtfl hkusodc fjtovoto`s fsskjoftì woth Hurrojfd` Custfv

fdi Hurrojfd` Oa` r`jkv`ry$ Yh` ]IF woll r`nfod jknplofdt woth fll JIMC r`culftokds udtol fll

fllkjftì budis fdi prkcrfn odjkn` fr` xp`diì kd JIMC locoml` fjtovoto`s$

@LOCOMOLOY_. Wfssov` r`fl stft` i`v`lkpn`dt udi`rtfa`d my dkdprkbot fdi bkr.prkbot i`v`lkp`rs

thft prkvoi`s f nodonun kb twk (=/ fttfodfml` r`dtfl udots$ Fttfodfml` r`dtfl udots nust m`

kbb`rì ft fttfodfml` rft`s bkr f nodonun kb bov` (0/ y`frs$ Yhos fttfodfmoloty p`roki r`quor n`dt

nfy m` odjr`fsì tk jkrr`spkdi tk th` ]IFs bodfdjofl pfrtojopftokd od th` prke`jt$



6/45

@LOCOML@ JKZYZ

6$ Lfdi jksts, odjluiodc fjquosotokd1 sot` pr`pfrftokd t`stodc, sot` nfppodc, l`cfl, fdi kth`r

jksts r`lftì th`r`tk$

=$ Muoliodc jksts, odjluiodc muoliodc fjquosotokd1 jkdstrujtokd1 r hfmolotftokd1 fdi `dcod``rodc,

frjhot`jturfl, l`cfl fdi kth`r jksts r`lftì th`r`tk$

:$ Jksts fsskjoftì woth prkp rty i`v`lkpn`dt (`$c$, l`cfl, frjhot`jturfl, `dcod``rodc, `tj$/$

LKFD WF]FN@Y@]Z

6$ Lkfd Zoz` 5 Pp tk )97,777 p`r fttfodfml` udot, dkt tk xj`ì thorty p`rj`dt (:7%/ kb tktfl

prke`jt bodfdjodc kr )6,777,777, whojh`v`r os l`ss$

=$ Wrovft` Z`jtkr Odv`stn`dt 5 Lkfds shfll kdly m` nfi` od jkdeudjtokd woth provft` s`jtkr

odv`stn`dt kb quoty fdi+kr p`rnfd`dt bodfdjodc ikllfrs$

:$ @quoty ]`quor`n`dts 5 Yypojflly, fjh prke`jt shfll jkdtfod f jfsh odv`stn`dt my th`

fpplojfdt kr fd fbboloft` kb ft l`fst t`d p`rj`dt (67%/ kb th` tktfl prke`jt jkst$ Fpplojfdts

bkr r`fl `stft` i`v`lkpn`dt budis nfy r`plfj` th` kth`rwos` r`quorì `quoty woth fiiotokdfl

borst nkrtcfc` kr kth`r pumloj bodfdjodc skurj`s$

9$ Lkfd Z`juroty 5 Fll lkfds nust m` s`jurì woth nkrtcfc` lo`d pksotokds kd kd` kr nkr`

kb th` bkllkwodc fss`ts5 lfdi, muoliodcs, fdi fdy kth`r boxì fss`ts$ Od fiiotokd, th` ]IF

nfy r`quor` p`rskdfl cufrfdt``s brkn th` kwd`r(s/$

0$ Y`rn 5 Yh` r`pfyn`dt p`roki shfll, ft f nodonun, m` th` sfn` fs th` r`pfyn`dt p`roki kb

th` s`dokr i`mt$ ]`pfyn`dt i`b`rrfls fdi bkrcov`d`ss kb i`mt woll m` i`t`rnodì

odiovoiuflly my ]IF fdi th` Lkfd ]`vo`w Jknnott` $

2$ Odt`r`st ]ft` 5 @fjh lkfds odt`r`st rft` woll m` odiovoiuflly i`t`rnodì mfsì kd th`

nodonun sumsoiy d`j`ssfry tk bodfdj` th` prke`jt, mut woll dkt m` nkr` thfd kd`

pkodt m`lkw th` odt`r`st rft` kb th` s`dokr lkfd$ Jkdstrujtokd Yon`brfn`5 Wrke`jts

bodfdjì thrkuch th` CFW.F nust m`cod jkdstrujtokd wothod sox (2/ nkdths brkn jlksodc,

fdi jkdstrujtokd nust m` jknpl`tì wothod tw`dty.bkur (=9/ nkdths brkn jlksodc$ F

prke`jt os i``nì jknpl`tì upkd bodfl odsp`jtokd fdi fpprkvfl my th` ]IF, fdi upkd th`

sumnossokd kb prkkb my th` Mkrrkw`r thft fll fpprkproft` Joty kb Mftkd ]kuc`+Wfrosh

kb @fst Mftkd ]kuc` fc`djo`s hfv` fpprkvì th` wkra p`rbkrnì, odjluiodc ossufdj`

kb J`rtobojft`s kb Kjjupfdjy$ @xt`dsokds nfy m` vfluftì kd f jfs`.my.jfs` mfsos my th`

]IF$

3$ Jkdstrujtokd Odsp`jtokd B`` 5 Yh` jkdstrujtokd odsp`jtokd b`` bkrnulf os kd`.hflb p`rj`dt

(7$0%/ kb th` jkdstrujtokd jkdtrfjt$ Ob th` jkdstrujtokd odsp`jtokd os prkvoiì my f provft`

W67 W66



7/45

W6= W:

BODFDJ@Y]@DIZ

l`di`r, dk ]IF jkdstrujtokd odsp`jtokd b`` woll m` iu`, mut fll odsp`jtokd r`pkrts nust m`

nfi` suotfml` tk th` ]IF$ Yh` jkdstrujtokd odsp`jtokd b`` woll m` locoml` bkr bodfdjodc

thrkuch CFW.F budis$

8$ Krocodftokd B`` 5 Fll fpprkvì lkfds woll jfrry fd krocodftokd b`` kb kd` p`rj`dt (6%/ whojh

nfy m` bodfdjì fs pfrt kb th` tktfl prke`jt jkst$

?$ Fssunptokd 5 Lkfds nfy m` fssunì kdly ob fpprkvì my th` ]IF prokr tk fssunptokd$

Yh` ]IF nfy jhfrc` fd fssunptokd b``$ Lkfds thft fr` dkt fssunì fr` iu` kd th` sfl` kb

th` musod`ss kr prkp`rty, kr f jhfdc` od th` kwd`rshop strujtur` kb th` Mkrrkw`r, whojh`v`r

os fpplojfml`$

Bkr nkr` odbkrnftokd, vosot th` ]IFs w`msot` ft www$`mrrf$krc$


8/45

W69 W60

O$ =766 Mftkd ]kuc` Fpfrtn`dt Nfra`t . Odtrkiujtokd " Zunnftokd

Iftf jkll`jtì fdi fdflyzì fjh Zprodc " Bfll (nkst r`j`dtly od Bfll+Sodt`r =767.66/ r`cfri.

odc fpfrtn`dt r`dtfls fdi vfjfdjo`s my Jkka, Nkkr` " Fsskjoft`s (JNF/, th` LZP ]`fl @stft`

]`s`frjh Odstotut`, th` JOI kb CM]F] fdi th` Mftkd ]kuc` Fpfrtn`dt Fsskjoftokd (M]FF/

succ`sts thft fpfrtn`dt vfjfdjo`s od th` Mftkd ]kuc` fr`f hfv` r`turdì tk hostkrojfl dkrns$

Wrokr tk Aftrodf, th` Mftkd ]kuc` Fpfrtn`dt Fsskjoftokd wfs r`pkrtodc joty.woi` vfjfdjo`s ft

8%$ F sonolfr bocur` (2%/ wfs r`pkrtì od th` LZP+JNF Zprodc =770 r`pkrt$ Bkr rkuchly :

y`frs bkllkwodc th` frrovfl kb Hurrojfd` Aftrodf (Fucust =?, =770/, mkth surv`y skurj`s w`r`

r`pkrtodc l`ss thfd 6% vfjfdjy nfra`t. woi`$ Rfjfdjo`s hfv sodj` ros`d$ Yh` Bfll+Sodt`r

=767.66 LZP+JNF r`pkrt r`bl`jts 2$?% vfjfdjy nfra`t.woi` (620 jknpl` `s surv`y i/$

M]FF sonolfrly r`pkrtì 2$9% vfjfdjy od @fst Mftkd ]kuc` Wfrosh bkr Efdufry =766 (up sum.

stfdtoflly brkn =$6% od Efdufry =77?/$

S` fdflyzì twk s`ts kb r`dtfl iftf (jkll`jtì od th` Zprodc fdi+kr Bfll kb th` lfst s`v`rfl

y`frs/, whojh iobb`r my jknpksotokd fdi dunm`r kb prkp`rto`s odjluiì$ Yh` lfrc`r nftjhì

iftfs`t jkdsosts kb 666 jknpl`x`s, woth f snfll`r nftjhì sfnpl` kb :? lfrc` (=77! udot/

jknpl`x`s flsk fdflyzì$ ]`dtfls bkr th` 666.jknpl` nftjhì sfnpl` odjr`fsì 6$8% brkn

Bfll =77? tk Bfll =767 (kv`r f 6=.nkdth p`roki/$ Yh` r`pkrtì vfjfdjy rft` bkr th` nftjhì

sfnpl` wfs 2$6% (up brkn 0$:% od Bfll =77? fdi =$0% od Bfll =7781 dkt` thft thos bocur` .

jlui`s jkdsoi`rftokd kb th` d`wly.muolt " vfjfdt udots od th` d`w jknpl` `s stoll od l`fs`.up/$

Yh` nftjhì sfnpl` kb xostodc udots os f strkdc odiojftkr kb kv`rfll tr`dis$

F mull`tì sunnfry kb kur a`y jkdsoi`rftokds " p`jtftokds os prkvoiì5

q Yh` ionodoshì fvfolfmoloty kb nkrtcfc` bodfdjodc bkr hkn` purjhfs`s fpp`frs tk hfv`

sumstfdtoflly slkwì th` trfdsotokd kb r`dt`rs tk hkn` kwd`rshop, r`sultodc od cr`ft`r t`dfdt

r`t`dtokd$ Y`dfdts lfjaodc f strkdc jrìot rftodc, odjkn` hostkry fdi+kr fss`ts bkr ikwd pfy.

n`dt dkw hfv` nujh cr`ft`r iobbojulty od s`jurodc nkrtcfc` bodfdjodc fdi crfiuftodc tk hkn`

kwd`rshop$ Yhos fpp`frs tk hfv` f m``d f jftflyst bkr fmskrptokd kb th` odjknodc udots kv`r th`

pfst :! y`frs$

q Yh` supply kb r`dtfl udots od th` Mftkd ]kuc` NZF hfs odjr`fsì sumstfdtoflly (9,89= d`w

fpfrtn`dt udots hfv` m``d jknpl`tì sodj` Aftrodf hot kd Fucust =?, =770, 362 udots fr`

udi`r jkdstrujtokd, fdi 002 udots fr` prkpksì bkr jkdstrujtokd my =76=.6: od th` NZF1 th`

tktfl d`w r`dtfl supply bkr =772.6= jkuli xj`ì 2,777 udots/$ Nfra`t.woi` vfjfdjo`s hfv` r`.

turdì tk f l`v`l kb rkuchly 3% (prke`jtì loa`ly od kur =77? fdi =767 r`pkrts/, thkuch r`dtfl

odjr`fs`s hfv` irkppì w`ll m`lkw hostkrojfl dkrns (jurr`dtly eust udi`r =%, whol` =% tk :%

fdduflly hfs m``d th` hostkrojfl dkrn/$ @jkdknoj r`dts fdi kjjupfdjo`s (iu` tk jkdj`ssokds,

typojflly od th` bkrn kb wfovì r`dtfls, kr br`` fpplofdj`s/ hfv` nki`rftì od nfdy nfra`t s`c.

n`dts, fs jknp`totov` pr`ssur`s tk l`fs` th` r`nfododc odv`dtkry kb d`w+vfjfdt udots fpp`fr

tk stoll m` hfvodc fd bb`jt$

q D`t fmskrptokds bkr th` d`w jknpl`x`s, p`r iosjussokds woth kwd`rs fdi nfdfc`rs, hfv`

prìknodfdtly hkv`rì od th` rfdc` kb 67 tk :7 udots p`r nkdth$ Yh` hostkrojfl dkrn bkr d`w

jknpl`x`s lkjflly hfs m``d 60 tk =7 udots p`r nkdth$

q Jkdsoi`rftokd shkuli flsk m` cov`d tk th` 6,?09 bkr sfl` jkdik udots muolt od th` Mftkd

]kuc` NZF iurodc =772.67$ Yh`s` hfv` hostkrojflly irfwd pronfroly kd th` s`cn`dt kb th`

nfra`t kro`dtì tkwfri kwd`r. kjjupfdjy, mut nfdy hfv` m``d fjquorì my odv`stkrs, kr hfv`

m``d jkdv`rtì mfja tk r`dtfl udots my th` krocodfl i`v`lkp`rs (whk hfv` hfi iobbojulty fttrfjt.

odc purjhfs`rs jfpfml` kb s`jurodc nkrtcfc` bodfdjodc sodj` =778/ fdi r`pr`s`dt jknp`totokd

bkr trfiotokdfl r`dtfl udots$ Fmskrptokd kb th`s` udots my odv`stkrs hfs ionodoshì cr`ftly, fs

bodfdjodc bkr th`s` fjquosotokds hfs m`jkn` xtr`n ly iobbojult tk s`jur`$ Rortuflly fll prkpksì

jkdik prke`jts hfv` m``d put kd hkli (`xj`pt bkr f b`w, snfll, stui`dt.kro`dtì prke`jts d`fr

LZP/$

O.BFNOL_ Y]@DIZOYY@@M@]Z

`y Nkkr` (Zp`fa`r/

NjIkdfli,

fv`dpkrt

y NjNfst`rs

Nfrtod

Nkkr`

Alòdp`t`rNkkr`joft`s

s`, JJON," Mlun ]`fltkrs

Jkrifrkk Jknpfdo`s

Yr`pp`difhl, JJONNkkr`joft`s

NPLYO.BFNOL_ Y]@DIZ Y]@DIZ =766


9/45

W= W63

Y]@DIZ =766

q Yh` mfsoj n`jhfdojs kb hkusodc i`nfdi fr` fs bkllkws5 th` dftokdfl fdi lkjfl dkrn hfs

hostkrojflly m``d rkuchly =$30 p`kpl` p`r hkus`hkli, sk, bkr fjh 6,777 p`kpl` thft hfv` r`.

nfodì lkdc.t`rn od Mftkd ]kuc` fs f ior`jt r`sult kb Aftrodf, w` shkuli d`ì tk hfv` rkuchly

:27 fiiotokdfl hkusodc udots tk sftosby th` odjr`n`dtfl i`nfdi jr`ftì my sujh f pkpulftokd

odjr`fs`$ Fs rkuchly ::% kb th` lkjfl udots hfv` hostkrojflly m``d r`dt`r. kjjupo i, rkuchly

6=7 kb th`s` :27 udots (p`r thkusfdi r`soi`dts/ d`ì tk m` r dtfl udots$ Fs th` Mftkd ]kuc`

fr`fs lkdc.t`rn pkpulftokd hfs odjr`fsì my rkuchly :7,777 iu` tk Aftrodf (fs w`ll fs th`

dkrnfl pkpulftokd crkwth w` wkuli dkrnflly hfv` c`d`rftì/, th` lkjfl nfra`t shkuli hfv`

m``d fml` tk fmskrm rkuchly :,277 d`w r`dtfl fpfrtn`dt udots tk sftosby th` odjr`n`dtfl lkdc.

t`rn i`nfdi storrì my Aftrodf wothkut prkiujodc nft`roflly fiv`rs` onpfjt kd th` `xostodc

r`dtfl hkusodc stkja$ Shol` th` odjknodc Wkst.Aftrodf supply kb r`dtfl udots hfs xj`ìì thos

nfra, th` nkrtcfc` nfra`t woli jfri fpp`frs tk hfv` jkn` odtk plfy (fs th` fiv`rs` onpfjt

kd nfra`t kjjupfdjo`s sujh fd kv`rsupploì stft` shkuli prkiuj` hfs dkt y`t bully surbfjì/$

q F a`y onp`tus bkr th` sumstfdtofl jkdstrujtokd od =772.78 wfs th` CK Ukd` Fjt, whojh

c`d`rftì sumstfdtofl shkrt.t`rn tfx m`d`bots bkr thks` odv`stodc od d`wly.muolt r`flty$ Yk tfa`

fivfdtfc` kb th` CK Ukd` m`d`bots, hkw`v`r, d`w fpfrtn`dts od th` Mftkd ]kuc` hfi tk hfv`

f j`rtobojft` kb kjjupfdjy od plfj` prokr tk I`j`nm`r :6, =778$ Yh`s` bì`rfl tfx odj`dtov`s

prknptì odotoftokd kb jkdstrujtokd bkr j`rtfod fpfrtn`dt udots thft nocht kth`rwos` dkt hfv`

jknn`djì$ Yh` 6=+:6+78 i`filod` (fdi th` fsskjoftì rush tk jknpl`t` udots my th`d/

nocht hfv` r`sultì od f roppl` thrkuchkut th` lkjfl fpfrtn`dt nfra`t, mut bkr th` kth`r jkdsoi.

`rftokds iosjussì fmkv`$ Yh` fms`dj` kb thos odj`dtov` shkuli hfv` slkwì th` odblux kb d`w

udots, thkuch th`r` fr` stoll rkuchly 362 udots udi`r jkdstrujtokd$

q Od Zprodc =778, O `xp`jtì th` lkjfl fpfrtn`dt nfra`t tk m`jkn` hochly jkdj`ssokdfry

my th` `di kb =778, pfr tojulfrly od th` Jlfss F sumnfra`t$ Shol` ot tkka f whol` lkdc`r bkr th`

roppl` tk surbfj`, my lftt`r =77? w` m`cfd tk s`` br`` nkdth fdi f br`` YR (kr kth`r sonolfrly


10/45

W68 W6?

strujturì/ jkdj`ssokds kbb`rì ft f dunm`r kb th` upsjfl` prkp`rto`s$ Fs th` vfst nfekroty kb

th` odjknodc supply kb udots hfs m``d upsjfl`, th` Jlfss F prkp`rto`s fpp`fr tk hfv` b`lt th`

mrudt kb th` jknp`totov` pr`ssur s brkn th` odjknodc udots$ Yhòr jknp`totov fieustn`dts

fpp`fr tk dkw m` bkrjodc r`dtfl fieustn`dts my th` Jlfss M prkp`rto`s, whk th`d put projodc

pr`ssur` kd Jlfss J prkp`rto`s$ Dkmkiy os mull`t.prkkb$

q Yh`r` fpp`frs tk m` f shkrt.t`rn kv`rsupply kb fpfrtn`dt udots od th` I`dhfn Zprodcs

sumnfra`t (whojh nfy roppl` tk fst`rd pfrts kb Mftkd ]kuc`/ r`sultodc brkn th` jknpl`tokd

kb = jknpl`x`s (kd` d`frodc jknpl`tokd/ woth f jknmodì tktfl kb :28 udots$ M]FF r`pkrtì

:=% vfjfdjy od thos sumnfra`t od thòr Efdufry =766 surv`y$ Fmskrptokds od th` = d`w jkn.

pl`x`s hfv` m``d strkdc (rkuchly =7 udots p`r nkdth/, hkw`v`r$

q Yh` jrotojfl bfjtkrs thft woll ultonft`ly irov` th` lkdc.t`rn i`nfdi bkr, fdi fmskrptokd kb,

fiiotokdfl hkusodc udots od th` Mftkd ]kuc` fr`f fr` th` dunm`r kb ekms thft jfd m` r`tfodì

lkjflly (wh`r` th` ekms ck, th` pkpulftokd woll bkllkw/ fdi th` fmoloty kb kur odbrfstrujtur`

(rkfis, sjhkkls, ckv`rdodc mkio`s/ tk fjjknnkift` thos crkwth fdi nfodtfod th` jhfrfjt`r

fdi nfra`tfmoloty kb Mftkd ]kuc` fs f plfj` tk lov`$ I`spot` th` ikur jkdknoj jkdiotokds

dftokdflly, Mftkd ]kuc` fpp`frs tk hfv` ikicì th` mrudt kb th` r`j`ssokd, fdi r`nfods w`ll

pksotokdì tk prksp`r fs th` jkdknoj r`jkv`ry crfiuflly cfods trfjtokd dftokdflly$ Crfphs

ollustrftodc th` r`j`dt tr`dis od fpfrtn`dt r`dtfls fr` prkvoiì od th` bkllkwodc pfc s$ Yh`s`

woll m` bkllkwì my sydkps`s kb d`w nultobfnoly r`soi`dtofl (fpfrtn`dt fdi jkdik/ jkdstrujtokd

prke`jts, fdi nkr` i`tfolì r`dtfl+vfjfdjy jhfrts$

OO$ D`w Fpfrtn`dt Jkdstrujtokd

Mftkd ]kuc` xp`ro`djì f r`jkv`ry p`roki od fpfrtn`dt jkdstrujtokd brkn 6??0 tk =770$

Iurodc thos p`roki, :2 fpfrtn`dt jknpl`x`s jkdtfododc f tktfl kb 2,877 r`dtfl udots (`xjlui.

odc bkr sfl` jkdiks/ w`r` muolt od Mftkd ]kuc`$ R`ry b`w kb thks` d`w jknpl`x`s kbb`r i

stfdifri, noi.crfi` fpfrtn`dt udots (o$`$, vortuflly fll w`r` kro`dtì tkwfri dojh` nfra`ts,

sujh fs stui`dts kr lkw`r.odjkn` hkus`hklis/$ Yh` vfst nfekroty kb th` d`w supply kv`r th`

pfst 60! y`frs hfs m``d kro`dtì tkwfri oth`r nkr` fbblu`dt t`dfdts, kr lkw`r.odjkn` hkus`.

hklis$

]kuchly 9,89= udots hfv` m``d jknpl`tì sodj` Aftrodf hot od =770, 322 udots fr` udi`r

jkdstrujtokd, fdi 002 udots hfv` m``d fddkudjì+plfddì bkr jkdstrujtokd my th` `di kb

=76= od th` NZF1 th` tktfl bkr =772.6= jkuli `xj`ì 2,777 udots$ Nujh kb th` d`w jkdstruj.

tokd od =772.78 wfs irov`d my tfx odj`dtov`s (òth`r vof fjj`l`rftì i`pr`joftokd crfdtì vof th`

CK Ukd` Fjt, kr vof lkw.odjkn` hkusodc tfx jrìots finodost`rì my Bì`rfl fdi Ztft`

fc`djo`s/$ Yh` d`w fpfrtn`dt jknpl`x`s muolt, udi`rwfy fdi plfddì od Mftkd ]kuc` fr`

lostì kd th` bkllkwodc pfc`s$

Dkt odjluiì od th`s` losts nfy m` fiiotokdfl prkp`rto`s (od th` plfddodc fdi+kr bodfdjodc stfc`s/ bkr

whojh th` sot` hfs dkt m``d purjhfsì, sot` plfd fpprkvfl hfs dkt m``d crfdtì fdi+kr plfds hfv` dkt

m``d pumlojly fddkudjì$

$

$ $ $$

$

1$

$ $

Fpfrtn`dt Jknpl`x`s Jknpl`tì od =767 od th` Mftkd ]kuc`, Lkuosofdf NZF

Wrke`jt Dfn`,I`v`lkp`r " Lkjftokd

* kb Pdots Jknpl`tokd Ift` Jknn`dts

Jkttfc`s kb Mftkd ]kuc` 60? =767 Ppsjfl`+Luxury Ztui dt.Kro`dt i udots(Jfpstkd`, Mornodchfn, FL/ kb bodfdj i jkdv`dtokdflly1

Dojhklskd ft M`d Hur :8= 60? kb :8= Pdots Jknpltì

Rollfc`s ft Eumfd Lfa`s 699 =767 Noi.sjfl` Jkdv`dtokdfl udots(Ykn I lfhfy , Wlfqu`nod`/ bodfdj i udi r HPI ==6i9 prkcrfn1

Muiiy @llos ]kfi od I dhfn Zprodcs Jkdstrujtokd jknpl`t i

Kfawkki Y`rrfj` 27 =767 Fbbkrifml` Hkusodc (Yfx Jrìot/ udots(Mkw`d Frdkli/ Zodcl .bfnoly, Zjftt`r i.sot` ]`dtfl CrkupodcKbb Noja`d ]i Jkdstrujtokd jknpl`t i

Bull`rtkd @stft`s == =767 Fbbkrifml` Hkusodc (Yfx Jr iot/ udots(E`bb M`fv r/ Zodcl .bfnoly, Zjftt`r i.sot` ]`dtfl Crkupodc

E$H$ Jkkd`y Ir kbb Wlfda ]i Jkdstrujtokd jknpl`t i

Yktfl =77?.=767 :80



11/45

Fpfrtn`dt Jknpl`x`s Pdi`r Jkdstrujtokd od =766 od th` Mftkd ]kuc`, Lkuosofdf NZF


* kb @xp`jtìPdots Jknpl`tokd Ift` Jknn`dts

Jkttfc`s kb Mftkd ]kuc` ==: Fucust =766 Ppsjfl`+Luxury Ztui dt.Kro`dtì udots(Jfpstkd`, Mornodchfn, FL/ kb bodfdj i jkdv`dtokdflly1

Dojhklskd ft M`d Hur :8= Lfst ==: kb :8= udots udi`r jkdstrujtokd

Fsp`d Hòchts 6=0 =766 Ppsjfl`+Luxury Ztui dt.Kro`dt i udots(Mr`ja`droic` Crkup, YX/ bodfdj i jkdv`dtokdflly1]ov`r ]kfi ft Mrochtsoi Zot` fjquorì1 jkdstrujtokd udi rwfy

Yh` Wfrj ft I`dhfn ==9 =767.66 Noi.sjfl` Jkdv`dtokdfl udots:67?= LF Hochwfy 62 bodfdj i udi r HPI ==6i9 prkcrfn1

I`dhfn Zprodcs Jkdstrujtokd d`fr jknpl`tokd

Hkkp`r Zprodcs 98 =766 Fbbkrifml` Hkusodc (Yfx Jr iot/ udots(JIO, Oifhk/ Jkdstrujtokd Pdi rwfyHkkp`r ]kfi

Zjktt @l`n`dtfry 27 Fprol =766 Fbbkrifml` Hkusodc (Yfx Jrìot/ udotsCulb Jkfst Hkusodc Wfrtd`rs bkr Zodcl` ]kkn Kjjupfdjy (Z]K/

?77 Dkrth 6? th Ztr``t Jkdstrujtokd d`fr jknpl`tokd

CHJW . Kd` Ztkp :2 Euly =766 Fbbkrifml` Hkusodc (Yfx Jr iot/ udotsCulb Jkfst Hkusodc Wfrtd`rs bkr Zodcl` ]kkn Kjjupfdjy (Z]K/

60: Dkrth 63 th Ztr``t Jkdstrujtokd Pdi rwfy

Yktfl =766 362

Fpfrtn`dt Jknpl`x`s Wrkpksì bkr =766.=76: (Dkt _`t Pdi`r Jkdstrujtokd/ od th` Mftkd ]kuc`, Lkuosofdf NZF


* kb @xp`jtìPdots Jknpl`tokd Ift` Jknn`dts

Skkilfdis =?6 =76=.6: Ppsjfl`+Luxury Ztui dt.Kro`dtì udots(Ifvoi Nula`y+Ykn Zjktt, Ikv`tfol Jks/ tk m` bodfdjì jkdv`dtokdflly kr vof HPI ==6i91

Dojhklskd ft M`d Hur Zot` fjquorì1 jkdstrujtokd hfs dkt stfrtì

]ov`r Hkus` (bkrn`rly Pdov`rsoty Rollfc`/ =79 =76= Ppsjfl`+Luxury Jkdv`dtokdfl udotsBkrn`r Wrodj` Nurft Hkt`l tk m` bodfdj i jkdv`dtokdflly kr vof HPI ==6i91 Dojhklskd ft Kalfhknf Zot` fjquorì1 jkdstrujtokd tk stfrt Nfy =766

]kuzkd :7 =76=.6: Ppsjfl`+Luxury Jkdv`dtokdfl udots(EYZ, Mftkd ]kuc`/ tk m` bodfdj i jkdv`dtokdflly kr vof HPI ==6i91

W`raods ]kfi d`fr Wkllfri @stft`s Zot` fjquorì1 jkdstrujtokd hfs dkt stfrtì

M llhfv`d Yrfj :6 =76= Fbbkrifml` Hkusodc (Yfx Jr iot/ udots(Yrolft`rfl I`v`lkpn`dt, LLJ/ tk m` bodfdj i udi r sumsoiy prkcrfns1

Skkiifl` Mlvi Zot` fjquorì fdi mòdc jl`frì bkr jkdstrujtokd

Yktfl Pdots Wlfddì 002

OOO$ Jkdiknodoun Jkdstrujtokd

F skurj` kb hkusodc skn`ton`s kv`rlkka i os bkr sfl` (odv`stkr fdi+kr kwd`r.kjjupfdt

kro`dtì/ jkdik jkdstrujtokd$ Dun`rkus jkdik i`v`lkpn dts hfv` m``d muolt kv`r th` pfst

s`v`rfl y`frs fdi nkst fttrfjtì r`fskdfmly rfpoi fmskrptokd thrkuch frly =773 (typojflly 0

tk 67 udots s`llodc p`r nkdth, i`p`diodc nkr` kd jkdstrujtokd sjhìul`s fdi fvfolfmoloty thfd

nfra`t i`nfdi/$ Fmskrptokds sodj` noi.=773 hfv` m``d dktfmly slkw r, fs th` rìujì fvfol.

fmoloty kb nkrtcfc` bodfdjodc bkr jkdik purjhfs`rs hfs fiv`rs`ly onpfjtì i`nfdi bkr jkdiks$

Dkd`, hkw`v`r, hfv` m``d muolt sodj` =778$

Fiiotokdfl i`v`lkpn dts fr` adkwd tk m` od th` wkras$ Soth th` w`fa r`j`dt fmskrptokds dktì,

ot os loa`ly th` odblux kb udots woll slkw nft`roflly$ Pdtol nkrtcfc` bodfdjodc m`jkn s nkr` r`fi.

oly fvfolfml` bkr jkdiks, fmskrptokds woll loa`ly r`nfod slkw$

OR$ Fpfrtn`dt ]`dt " Rfjfdjy Ztftostojs

Kd th` bkllkwodc pfc`s fr` pr`s`dtì tfml`s sunnfrozodc th` bocur`s jknpolì od th` LZP+JNF

fpfrtn`dt surv`ys p`rbkrnì od Bfll+Sodt`r =767.665


,

W=7 W=6


12/45

Shfts _kurMkttkn Lod`;

Lkuosofdf Jhfpt`r

usod`ss p`kpl` nfa` moc i`josokds thft onpfjt thòr

mkttkn lod` fdi nkr`$ Yh`s` i`josokds r`quor` `xp`rt

h`lp fdi nkr` musod`ss`s fr` turdodc tk r`fl `stft`

prkb`ssokdfls whk hkli th` JJON I`socdftokd$

M

Jfd yku fbbkri dkt tk ekod JJON LKPOZOFDF;Fs th` stft`s lfrc`st jknn`rjofl r`fl `stft` krcfdozftokd, kur n`nm`rs odjlui` th` nkst prklo jjknn`rjofl rns od Lkuosofdf$ Yh` d`twkraodc kppkrtudoto`s fr` udlonotì fdi kbb`rì stft woi`$ Kbb`rodc

ìujftokd, d`twkraodc, " t`jhdklkcy JJON n`nm`rs jfd jknp`t` bkr musod`ss ft v`ry l`v`l$ Ekod

L tkify fdi wftjh ykur musod`ss fdi mkttkn lod` crkw$

upJkNodc `v`dts5N y 6?5 JJON+JOI+O]@N Ludjh, Mftkd ]kuc`N y =95 JJON+L] Jknn`rjofl J@ " L`coslftov` Mro` dc, Mftkd ]kucÈ ?.675 JOODY] Jlfss, Zhr`v`pkrtE ly =?5 JJON @l`jtokd Ludjh, D`w Krl`fdsf 9.05 JOODY] Jlfss, Mftkd ]kuc`f 665 JJON+O]@N Ludjh, Lfbfy`tt`

s nm 8.?5 JOODY] Jlfss, Dkrth Zhkr`kj m 95 Fddufl Cklb Ykurdfn`dt, Mftkd ]kuc`kj m 685 JJON+DKNF]+JOI Yr`dis, D`w Krl`fd nm 95 9 th Vtr$ N`nm`rshop Ludjh, D`w Krd nm 3.665 JO 676 Jlfss, D`w Krl`fdsI j nm 65 Kb j`rs Odstfllftokd

www$L JJoN$j n

W== W:

NPLYO.BFNOL_ Y]@DIZ

Fr`fDunm`rkb Jknpl`x s 7 M] 6 M] = M] : M] 9 M] 7 M] 6 M] = M] : M] 9 M] Yktfl 7 M] 6 M] = M] : M] 9 M] Yktfl

F LL 6 20 ) 07 = ) 28 2 ) 8= 0 ) ?8 = ) 6, 0: = ) 6 $7 33 ) 7$ ?2 8 ) 7$ 86 3 ) 7$ 87 6 ) 6 $6 96 ) 7$ 82 ? 3 $ 6? % 3 $2 0% 2 $0 0% 3 $7 =% = $: 0% 2 $? 9%

6 9 2 ) 20 3 ) 3: 9 ) ?: = ) 6, == : ) 6 ,3 ?: ) 6$ :0 0 ) 6 $7 28 ) 7$ ?0 2 ) 6$ 79 9 ) 6 $: 09 ) 6$ 7: 3 8 $ 37 % 0 $2 3% 0 $0 0% 3 $7 9% 6 $3 7% 0 $2 9%

= : 2 ) 03 ? ) 38 ? ) ?0 6 ) 6, 62 9 ) 83 8 ) 6$ :8 8 ) 6$ 72 7 ) 7$ 83 ? ) 7$ 82 8 ) 7$ 28 = ) 7$ ?: 9 = $ 87 % 9 $2 9% 9 $: =% 0 $: 6% 2 $2 2% 9 $0 2%

: 9 : ) 0: 8 ) 2? 8 ) 86 0 ) 8? : ) 89 8 ) 6$ 67 9 ) 7$ ?2 6 ) 7$ 38 2 ) 7$ 2? 6 ) 7$ 0: 2 ) 7$ 8= : 9 $ 88 % 3 $ 02 % 8 $ 7? % 8 $= 7% 2 $2 3% 3 $8 3%

9 62 ) 90 7 ) 92 ? ) 02 8 )2 0: . ) 7$ ?7 7 ) 7$ 36: )7 $2 70 )7 $0 9? . )7 $2 =? 7 $7 7% ==$ ?: % 8 $= ?% 3 $0 7% . 6 :$ 2: %

0 = 9 ) =7 3 ) 98 2 ) 0: 8 ) 28 3 ) 30 = ) 7$ 90 : ) 7$ 3: = ) 7$ 08 3 ) 7$ 29 6 ) 7$ 27 7 ) 7$ 2: 8 8 $ 77 % 3 $ ?8 % 3 $ 7: % 2 $3 :% 7 $7 7% 3 $= 9%

Yfml` 6

Fv`rfc` ]`dt Fv`rfc` ] dt p`r Zq$ Bt$ Rfjfdjy ]ft`

Fpfrtn`dt Iftf my Fr`f(Bfll =767 Bull Iftf Z`t/

, , $ $ $ $ $ $ $ $ $ $ $ $

, , , $ $ $ $ $ $ $ $ $ $ $ $

, , . $ $ $ $ . $ $ $ $ $ . $

. . $ $ $ $ $ . $ $ $ $ $

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. $ $ $ $ . $ $ $ $ $ . $

$ $ $ $ $ $ $ $ $ $ $ $

Fr`fDunm`rkb Jknpl`x`s 7 M] 6 M] = M] : M] 9 M] 7 M] 6 M] = M] : M] 9 M] Yktfl 7 M] 6 M] = M] : M] 9 M] Yktfl

FLL 00 )238 )39? )?7= )6,728 )6 ,26? )6$ :90 )6$7=: )7$829 )7$8=9 )6$66= )7$?63 0$=:% 2$63% 2$=0% 0$36% :$ :8% 2$66%

6 60 )8?: )870 )6,7=9 )6 ,=?7 )6 ,886 )6$283 )6$66= )6$76= )6$7=7 )6$ :=? )6$737 :$80% :$2?% 9$73% =$? :% =$=2% :$3 :%

= 6 = ) 2= 0 ) 82 : ) 6, 67 6 )6 ,:7 0 . ) 6$ :3 2 )6 $6 :7 ) 7$ ??2 ) 7$ ?:? . )6 $7: 3 =$ 79 % 9$ 37 % :$ 3= % :$ 38 % . 9 $60 %

: = : . ) 37 9 ) 8: 9 )8 80 )8 9? . ) 7$ ?3 = )7 $8 76 )7 $28 7 )7 $0: 3 )7 $8: 3 . 3 $3 6% 8 $= :% 8 $? 8% 2 $27 % 8$ 73 %

9 = ) 90 7 ) 06 ? ) 26 9 )3 :3 . ) 7$ ?7 7 ) 7$ 3: 7 )7 $0 ?0 )7 $08 6 . )7 $2= 0 7$ 77 % ?$ 0= % 6 7$ 77% ?$ 0= % . ? $32 %

0 : ) :2 = ) 96 3 ) :3 0 )3 =7 . ) 7$ 37 6 ) 7$ 08 : )7 $: 32 )7 $2: 9 . )7 $98 2 6 6$ :2 % 6 7$ 90% 2$ 38 % =$ :6 % . 3 $09 %

Fv`rfc ] dt Fv`rfc` ]`dt p`r Zq$ Bt$ Rfjfdjy ]ft`

Yfml` =

Fpfrtn`dt Iftf my Fr`f bkr Lfrc` Jknpl`x`s(Bfll =767 Bull Iftf Z`t/

RfjfdjyUop

JkiDunm`rkb Jknpl x`s

Dunm rkb Pdots p`r Pdot p r Z q$ Bt$ Yktfl

3787= 0 376 )3:0 )6$7:0 9$??%

37870 2 868 )903 )7$20: 8$:7%

37872 =0 :,7=9 )206 )7$36? 0$=0%

37873 = 628 )023 )7$290 8$::%

37878 63 =,372 )83= )6$7:: =$88%

3787? == 9,92= )?:6 )7$?:2 9$03%

37867 67 6,386 )?00 )7$?90 2$=?%

37869 9 096 )273 )7$2?9 8$:=%

37860 62 =,92= )0?7 )7$297 6=$30%

37862 :: 3,297 )380 )7$8:? 8$:?%

37863 9 270 )82? )7$87: 0$6=%

378=7 62 =,=8: )6,708 )6$693 8$2=%

Fv`rfc ]`dt

Yfml` :

Fpfrtn`dt Iftf my Uop Jki`(Bfll =767 Bull Iftf Z`t/

(Uop Jki`s woth Nkr` Yhfd 6 Jknpl`x/

NPLYO.BFNOL_ Y]@DIZ


13/45

$ $

$ $

$ $

$ $

$ $

$ $

$ $

$ $

Iftf Z`tSoth 7 M]

PdotsSoth 6 M]

PdotsSoth = M]

PdotsSoth : M]

PdotsSoth 9 M]

PdotsYktfl * kb

Jknpl`x`s7 M] Pdots

6 M] Pdots

= M] Pdots

: M] Pdots

9 M] Pdots

YktflPdots

Fll Jknpl`x`s =: 693 603 ?? =6 620 9:6 67,9:= 6:,:0? :,=3= 00: =8,793

Lfrc` Jknpl x`s 8 09 00 :2 8 00 63= 2,032 3,062 6,229 =:3 62,620

Dunm`r kb Pdots my Iftf Z`tDunm`r kb Jknpl`x`s

Yfml` 9

Bfll =77? Iftf Z`t Ztftostojs(Bfll =767 Bull Iftf Z`t/


W=9 W=0


14/45

W=2 W=3


Hot F Hkn`rud&Fiv s t is =76=

Jfll E ll Zylv s==0.:=9.7979


15/45

FDDPFL W@]J@DYFC@ ODJ]@FZ@ OD FWF]YN@DY ]@DYFL ]FY@Z M_ PDOY Y_W@

MFZ@I KD NFYJH@I ZFNWL@ KB 666 JKNWL@X@Z

FR@]FC@ FWF]YN@DY ]@DYFL ]FY@Z M_ PDOY Y_W@

MFZ@I KD NFYJH@I ZFNWL@ KB 666 JKNWL@X@Z

FDDPFL W@]J@DYFC@ ODJ]@FZ@ OD FWF]YN@DY ]@DYFL ]FY@Z M_ PDOY Y_W@MFZ@I KD NFYJH@I ZFNWL@ KB :? LF]C@ JKNWL@X@Z (=76! PDOYZ KDL_/

FR@]FC@ FWF]YN@DY ]@DYFL ]FY@Z M_ PDOY Y_W@MFZ@I KD NFYJH@I ZFNWL@ KB :? LF]C@ JKNWL@X@Z (=76! PDOYZ KDL_/


W=8 W=?


16/45

W= W:6

KBBOJ@Y]@DIZ

@x@JPYOR@ KR@]RO@S

Nfra`t fjtovoty od =767 wfs slkw tk stfcdfdt od th` kbboj` s`jtkr$ @bb`jts kb th` dftokdfl

r`j`ssokd jkdtoduì tk onpfjt Mftkd ]kuc`, fdi slkwodc od th` kol+cfs odiustry r`sultodc brkn

th` MW kol iosfst`r prkvoiì burth`r d`cftov` onpfjt kd th` nfra`t$ Hkw`v`r, y`fr di fjtovoty

odiojftì th` pkssomoloty kb f slkw r`mkudi od =766$ @frly odiojftokds bkr =766 fr pkodtodc

tkwfris f slkwly onprkvodc nfra`t fs lkjfl fc`dts fll r`pkrt odjr`fsì fjtovoty od th` 6st

qufrt`r$

Mrka`rs fdi lfdilkris

fr` kptonostoj bkr th` d`fr

butur`, mut jfutokd thft

nkst fjtovoty s``d kv`r

thft pfst y`fr hfs m``d

c`frì tkwfri shkppodc

fdi dkt muyodc$ Muy`rs

fdi t`dfdts s``n tk m`

jfr`bully wòchodc thòr

kptokds fdi s`àodc kut

th` m`st i`fls m`bkr`

nfaodc fdy i`josokds$

Soth udj`rtfodty od th` nfra`t skn` fr` jhkksodc dk i`josokd fs th` m`st jkurs` kb fjtokd$

Brkn f l`fsodc p`rsp`jtov`, w`fa nfra`ts od th` nfekroty kb lfrc` n`trkpklotfd fr`fs hfv` cov`d

t`dfdts fdi thòr r`pr`s`dtftov`s th` onpr`ssokd thft th`y jfd onpks` thòr woll kd lfdilkris

tk c`t f lfudiry lost kb jkdj`ssokds fdi r`dtfl rft` rìujtokds$ Znfll`r t`dfdts fr` s`àodc th`

sfn` l`v`l kb jkdj`ssokds dkrnflly s``d od lfrc` trfdsfjtokds s`dsodc i`sp`rftokd kd m`hflb

kb lfdilkris$ Lfrc`r dftokdfl t`dfdts fr` tfaodc nujh lkdc`r tk nfa` i`josokds fdi wollodc tk

KBBOJ@ Y]@DJKNNOYY@@

Mrfdkd S$ W`sdM`fu Mkx Jknn`(Zp`fa`r/

Ekdfdd ZtutznfdEYZ Nfdfc`n`dt

Cfry MlfjaSfnpkli Jknpfdo`

Ir`w W`frskd,DFO Lftt`r " Mlu


17/45

W:= W:

KBBOJ@Y]@DIZ

pfy pr`nouns bkr bl`xomoloty od skn` sotuftokds my i`nfdiodc shkrt`r t`rns (6.: y`fr/, boxì

`xpfdsokd kptokds, rochts kb borst r`busfl, rochts kb borst kbb`r, t`rnodftokd kptokds, fdi lfrc`

t`dfdt onprkv`n dt fllkwfdj`s$ Lfdilkris fr` wollodc tk ik nkr` jr`ftov` i`fls, mut ft th`

`di kb th` ify jkdknojs fr` dkt cr`ftly rìujì l`fvodc th` nfekroty kb t`dfdts tk jhkks` f

r`d`wfl kv`r f r`lkjftokd$

Shol` lfdilkris fr` crfdtodc

skn` jkdj`ssokds tk fttrfjt

t`dfdts, th` jknnkd

i`dknodftkr bkr v`rykd` s``ns

tk m` f rìujtokd od fsaodc r`dtfl

rft`s$ Od thos y`frs surv`y,

fv`rfc` r`dtfl rft`s i`jlodì od

fll sumnfra`ts bkr th` borst ton`

sodj` th` jurr`dt surv`y n`thki

wfs usì od =77:$

Yh` nfekroty kb l`fsodc fjtovoty

s``ns tk m` jknodc brkn

prksp`jtov` t`dfdts moiiodc kd

prkpksfls tk provftoz` stft`ckv`rdn`dt prkcrfns$ Yh`r` fr` s`v`rfl jknpfdo`s jhfsodc th` sfn` prkpksfl ft fdy cov`d

ton`, mut od nkst jfs`s kdly kd` woll wod th` moi$ Yh`r`bkr`, nfra`t fjtovoty nfy m` crkssly

kv`rstftì$

Ikwdsozodc fdi lfykbbs jkdtoduì tk fbb`jt th` kbboj` nfra`t s`jtkr thrkuchkut =767$

Zuml`fs` spfj` odjr`fsì brkn 639,777 squfr` b``t od Nfrjh =767 tk =9=,777 squfr` b``t


18/45

W:9 W:0

od Nfrjh =766$ Z`v`rfl kb th` spfj`s hfv` m``d kd th` nfra`t bkr kv r kd` y`fr$ Kjjupfdjy

rft`s od Mftkd ]kuc` b`ll tk 8=$8:% tk r`fjh ots lkw`st pkodt od 67 y`frs$

Zfl`s jkdtoduì tk m` b`w fdi bfr m`tw``d bkr =767$ Yh` nfekroty kb muy`rs jkdtoduì tk

wothhkli i`josokd nfaodc thrkuchkut =767 nkstly iu` tk nfra`t udj`rtfodty fdi iobbojulto`s

od bodfdjodc$ Yh` iosjkdd`jt m`tw``d muy`rs fdi s`ll`rs kv`r vflu`s, s``ns tk m` onprkvodc$

Nkst s`ll`rs fr` jknodc tk th` r`flozftokd thft prkp`rty vflu`s hfv` i`jlodì kv`r th` pfst twk

y`frs fdi fr` c`ttodc nkr` fccr`ssov od thòr projodc$ Shol` th`r` wfs dkt fd kv`rwh`lnodc

fnkudt kb iostr`ssì sfl`s fjtovoty od =767, th`r` w`r` f b`w jut rft` i`fls nfi` ft th` urcodc

kb l`di`r i`nfdis kr w`fry s`ll`rs$ Ot os fdtojopftì thft sfl`s fjtovoty woll r`nfod w`fa bkr

th` d`fr t`rn$ Yh`r` fr` v`ry b`w fbbkrifml` kr stfml` odv`stn`dt prkp`rto`s kd th` nfra`t

fdi odv`stkrs fr` h`sotfdt tk poja up sp`julftov` kr vflu` fii i`fls iu` tk th` jkdknoj

udj`rtfodty$ Fiiotokdflly, l`di`rs hfv` m`jkn` v`ry pojay bkr bodfdjodc odv`stn`dt r`fl stft`

i`fls$ Kwd`r.kjjupfdt i`nfdi jkdtodu`s tk m` lkw fs w`ll iu` tk bodfdjodc jkdj`rds$ Nfra`t

udj`rtfodty hfs nfi` nkst jknpfdo`s l``ry kb muoliodc kwd`rshop$ Yh` nfekroty kb jknpfdo`s

pr`b`r tk l`fs` iu` tk th` bl`xomoloty ot kbb`rs$

Shol` lkjfl fc`dts w`r` hkp`bul bkr =767, fjtovoty wfs slkw thrkuchkut th` y`fr$ Odotofl socds bkr

=766 fr` pkodtodc tkwfris slkw crkwth, mut th`r` os f lkt kb jftjhodc up tk ik$

Soth kjjupfdjy l`v`ls ikwd, suml`fs` spfj` up, fdi f woi` vfro`ty kb kptokds tk jhkks` brkn,

lfdilkris fdi s`ll`rs woll hfv` tk m` fccr`ssov` od kri`r tk lfdi prksp`jtov` t`dfdts fdi muy`rs$

Fs nkr` pksotov` jkdknoj d`ws jkn`s tk locht shkpp`rs nfy m`jkn` muy`rs, mut th`y stoll

nfy d`ì skn` jkdvodjodc$

Ikwdtkwd Nfra`t Kv`rvo`w

Yh` jknpl`tokd kb th`

d`w jkurthkus` fdi th`

kdckodc wkra kd th`

Dkrth Mkul`vfri Ykwd

Zqufr` hfv` prkvoiì

fjtovoty fdi fr` f nfekr

upcrfi` bkr ikwdtkwd$

Fiiotokdflly, th`

sydjhrkdozftokd kb th`

trfbboj socdfls hfs cr`ftly

onprkvì trfbboj blkw$

Yh` lfrc` mlkja kb

p`diodc vfjfdjy jr`ftì my th` A`fd Noll`r r`lkjftokd brkn Kd` Fn`rojfd Wlfj` tk OO Joty

Wlfzf fdi th` bkrbòtur` kb twk blkkrs kb spfj` my Jhfs` od th` Zkuth Ykw`r hfv` jr`ftì

jkdsoi`rfml` fvfolfmoloty od th` Jlfss F nfra`t$ Yh` Jknn`rj Muoliodc r`nfods vfjfdt woth

627,777 squfr` b``t kb jlfss M spfj` fvfolfml`$

Dktfml` kbboj` trfdsfjtokds odjlui` th` sfl` kb th` bkrn`r ]`cokds Muoliodc ft ::? Blkroiftk th` N`dtkrshop Fjfi`ny, whk woll kjjupy th` dtor` muoliodc$ Fiiotokdflly, s`v`rfl snfll`r

muoliodcs hfv` m``d skli bkr r`dkvftokd kr rì`v`lkpn`dt odjluiodc :=9 Lfbfy`tt` Ztr``t fdi

972 Dkrth 9th Ztr``t$

Ztft` ckv`rdn`dt, lfw borns, bodfdjofl odstotutokds, fdi kth`r musod`ss ikodc ckv`rdn`dt

r`lftì wkra jkdtodu` tk m` th` nfekr plfy`rs od th` JMI$ Wfraodc os fdi flwfys woll m`

KBBOJ@Y]@DIZ Y]@DIZ =766


19/45

Adkwlìc`

Yrust

]`sultsol Cuoiry, E`rry Bkls`, ]fdiy H`rrodc, JJON, Noa` Bflckust, ZOK], Eustod Lfdclkos, JJON,kt Cuoiry, JJON, ]`df Lfdclkos, Cr`y Hfnn`tt, Nfdfcodc Mrka`r

Odiustrofl Kbboj` ]`tfol Lfdi

$ 5 5

th` lfrc`st i`t`rr`dt bkr ikwdtkwd, fs pfraodc jkst jfd fii m`tw``d )6$77 fdi )=$77 p`r

squfr` bkkt tk kjjupfdjy jksts$ Hkw`v`r, sodj` th` JMI hfs m`jkn` th` j`dtrflozì hkn`

bkr stft` ckv`rdn dt, i`nfdi woll flwfys xost$ Fs muoliodcs jkdtodu` tk m` r`nki`lì fdi

mrkucht mfja odtk jknn`rj`, fdi nkr` r`stfurfdts, dt`rtfodn`dt, s`rvoj` kro`dtì r`tfol, fdi

hkusodc fr` fiiì, th` JMI woll jkdtodu` tk str`dcth`d$

Blkroif+Forlod` Nfra`t Kv`rvo`w

L`fsodc ft Mkd Jfrr` hfs m``d

th` nfod skurj` kb fjtovoty bkr thos

sumnfra`t fs r`nfododc muoliodcs od

th` Blkroif+Forlod` jkrroikr jkdtodu`

tk struccl` woth hoch vfjfdjy fdi

lottl` odt`r`st$ Hkw`v`r, 6336 Lkmi`ll

wfs sujj`ssbully skli tk f lkjfl

jhurjh bkr dkd.prkbot us`, whojh nfy

`v`dtuflly r`nkv` thos lfrc` mlkja

vfjfdjy brkn th` nfra`t$

Fiiotokdflly, 8=8= Ckkiwkki wfs

skli tk fd kwd`r kjjupfdt whk woll

fmskrm th` `dtor` spfj`$ Lfrc`

vfjfdjo`s stoll lkkn od 6?77 Lkmi`ll

fdi 67=00 Blkroif Mkul`vfri nfaodc

th`s` muoliodcs th` mocc`st hkl`s od

thos sumnfra`t$

Yh` lfrc` mlkja vfjfdjo`s, hoch pfraodc rftoks, fdi fbbkrifml` r`dts kbb`r kppkrtudoty bkr hoch

i`dsoty t`dfdts$ Hkw`v`r, th` fc` kb th` muoliodcs fdi p`rj`ptokd thft th` fr`f os iobbojult tk

r`fjh, jkdtodu` tk m` kmstfjl`s bkr t`dfdts fdi odv`stkrs od thos sumnfra`t$


W:2 W:3


20/45

W:8 W:?

Fjfiofd+Jkll`c`+Jkrpkrft` Nfra`t Kv`rvo`w

Yh` Fjfiofd+Jkll`c`+Jkrpkrft` kbboj` sum.nfra`t jkdtodu`s tk m` `xtr`n`ly i`sorfml` iu`

tk fjj`ss tk ikwdtkwd, th` odt`rstft` fdi E`bb`rskd Hwy$ Nkr` vfjfdjy xosts od =766 fs

jknpfrì tk =7671 hkw`v`r, th` fr`f nfra`t r`nfods strkdc iu` tk f strkdc t`dfdt mfs`$

Lfnfr Jkrpkrftokd r`j`dtly jknpl`tì jkdstrujtokd kb ots t`dfdt onprkv`n`dts od th` bkrn`r

Jhfs` Kp`rftokds J`dt`r fdi os dkw kjjupyodc th` muoliodc$ Flthkuch th` t`dfdt mfs` hfs

m`jkn` snfll`r kv`r th` lfst y`fr jkdsostodc kb nkr` jkdskloiftì kbboj` us`rs thfd od th` pfst,

th`r` hfs m``d fd odjr`fs` od fjtovoty r`lftì tk tkurodc th` lfrc`r, nkr upsjfl` spfj`s od th`

fr`f$ Yh` =766 t`dfdt os lkkaodc bkr vflu` fdi f i`sorfml` fiir`ss od thos fr`f bkr th` nkr`

budjtokdfl kbboj` spfj` fvfolfml` od th` fr`f$

@ss`d+Mlu`mkdd`t Nfra`t Kv`rvo`w

Kjjupfdjy ioppì eust slochtly kv`r th` lfst y`fr od thos jkrroikr$ Hkw`v`r, th`r` hfs m``d

kdly f slocht i`jlod` od rft`s od th` nfra`t, pronfroly iu` tk th` prkxonoty tk th` odt`rstft`

fdi qufloty kb kbboj` muoliodcs od th` fr`f$ Nkst lfdilkris hfv` jkdtoduì tk try fdi hkli born

kd th` r`dtfl rft`s, mut ot os udloa`ly thos tr`di woll jkdtodu` ob vfjfdjo`s jkdtodu` tk odjr`fs`$

Yhks` woth prklkdcì vfjfdjo`s fr` flr`fiy c`ttodc nkr` fccr`ssov` kd rft`s fdi jkdj`ssokds$

Zuml`fs` spfj` jkdtodu`s tk m` f bfjtkr od th` @ss`d+Mlu`mkdd`t sumnfra`t$ Jurr`dtly th`r`

os 6=8,777 squfr` b``t kb suml`fs` spfj` fvfolfml`$ I`nfdi od thos sumnfra`t woll jkdtodu` tk

r`nfod strkdc iu` tk ots j`dtrflozì lkjftokd, odt`rstft` fjj`ss, fdi th` qufloty kb muoliodcs od

th` jkrroikr$

Zh`rwkki Bkr`st Nfra`t Kv`rvo`w

Yh` Zh`rwkki Bkr`st sumnfra`t jkdtodu` s tk hfv` f lfrc` fnkudt kb fvfolfml` spfj`$

Hkw`v`r, th` fr`f s``ns tk hfv` stfmolozì brkn lfst y`frs i`jlod`$ ]`dtfl rft`s od thos

fr`f fr` nkr` fbbkrifml` thfd od kth`r sumnfra`ts od th` Mftkd ]kuc` fr`f fdi iu` tk

r`j`dt bfj`lobts kjjurrodc od th` lfst 2.? nkdths ft s`v`rfl prkp`rto`s, nfdy prksp`jtov`

t`dfdts hfv` m``d `djkurfc i tk tkur th` fr`f fdi jkdsoi`r pkssoml` r`lkjftokd$ Yrfbboj

jkdtodu`s tk onprkv` od th` fr`f iu` tk th` r`j`dt onprkv`n`dts jkdstrujtì ft O.6= fdi

Zh`rwkki+Jkurs`y fdi thos pksotov` bb`jt hfs r`sultì od r`d`wì odt`r`st od th` fr`f$

07=0 Mlu mkdd t Mlvi$ Mftkd ]kuc , LF 3787?==0.?=0.=:77 Bfx5 ==0.?=0.666?

www$cullyph`lpsnja`y$jkn

Ifvoi Yrusty Ior`jtkr kb Jknn`rjofl ]`fl @stft`

867.??=2iftrustyGjkx$d`t

Ifd Zhul`r

867.0?60ishul`rGdfv``dvork$jkn

Ifvoi Wfln`r

:63.:=:7popfln`rGhktnfol$jkn

Lfrs Jfrls`d

(079/ =06.::79lfrsijfrls`dGcnfol$jkn

]`putftokd ]`skurj`s ]`sults bkr Kv`r Hflb f J`dtury&

S`di`ll Brìoù

?29.=:67w`di`llGjrìot6r`pfor$jkn

Ir$ Cfry Zh`tl`r

?:8.2609cfryGircfrysh`tl`r$jkn

Jhros Mlfjawkki

::3.99:0jhros$russk$mlfjawkkiGcnfol$jkn

M`tty Wh`lps Mrka`r+Kwd`r

=96.=09?mpr`fltkrGfkl$jkn

Nojhf`l Nfhfbb`y

87=.?2=3`nn70=3Gcnfol$jkn

.... $ 6 66



21/45

W97 W96

Bkr`jfst

Yh` Mftkd ]kuc` Jknn`rjofl ]`fl @stft` Nfra`t jkdtoduì tk w`fth`r th` bb`jts kb th`

dftokdfl r`j`ssokd od =767 v`d woth th` r`j`ssokd kbbojoflly i`jlfrì kv`r my skn` `xp`rts od

noi =77?$ Mftkd ]kuc woll jkdtodu` tk `xp`ro`dj` nkr` kb th` sfn` od =766$ Fs f s`jkdifry

nfra`t, th` Jfpotfl Joty fdi kth`r noi.sozì joto`s loa` us lfc m`hodi th` p`rbkrnfdj` kr

udi`rp`rbkrnfdj` kb pronfry nfra`ts od lfrc` joto`s$ S` t`di tk m` r`lftov`ly odsulftì brkn

th` irfnftoj swodcs kb th` dftokdfl Jknn`rjofl ]`fl @stft` Nfra`t$ Kur odiustry shkuli

`xp`jt rkjay slkw crkwth od =766 fs th` jkdtoduì tocht`dodc kb jrìot woll lonot xpfdsokd v`d

wh`d ot os d`ìì fdi nfa`s s`ds`$ Mfdas fr` stoll odt`dt kd hkliodc kd tk jfsh$ S` shkuli

fll a``p f jlks` y` kd th` prkpksì fjjkudtodc jhfdc s my th` BFZM fdi OFZM r`lftì tk hkw

l`fs`s fdi kptokds fr` fjjkudtì bkr fdi whft fdy jhfdc`s tk th` jurr`dt stfdifri wkuli n`fd

bkr mflfdj` sh``ts fdi odjkn` stft`n`dts$

Y`dfdts fr` xp`jtì tk m`d`bot brkn fiiotokdfl jkdj`ssokds fdi odj`dtov`s fs lfdilkris wkra

hfri tk fttrfjt musod`ss tk thòr muoliodcs$ Vuktì r`dtfl rft`s woll i`jlod` slochtly fs w`ll$

Wrui`dt muy`rs woth ckki jrìot fdi jfsh woll m` fml` tk bodi jkdsoi`rfmly ckki i`fls,

`sp`joflly bkr kwd`r kjjupfdts$ Hkw`v`r, qufloty kbboj` r`lftì odv`stn`dt i`fls woll m` hfri`r

tk jkn` my iu` tk tkuch`r l`diodc r`quor`n`dts fdi hoch`r jfp rft`s$

Fv`rfc r`dtfl rft`s fdi kjjupfdjy rft`s bkr th` odiovoiufl muoliodcs fdi sumnfra`ts surv`yì

fr` shkwd kd th` bkllkwodc spr`fish``ts$

MPOLIODC JLFZZZVPF]@

B@@Y KJJPWO@IKJJPWFDJ_

] FY @ ] FY @ ZPML@FZ@2NKDYHZW@DIODC

6 Fjfiofd J`dtr` F 30,777 26,777 86$::% )68$77 7 7= Jo to Wl fj ` J dt r O ( Hf dj kj aM fda Muo li odc G Jot oW lf j / F 8 0, 777 8 0, 777 677 $7 7% )=:$ 77 7 7: JotoWlfj` J`dtr` OO F : :,322 =2,=80 33$89% )=7$77 7 79 J ot oW lf j J d tr ` OO O ( Yh ` Mf dj kr p Mf da J d t r G J ot oW lf j / F 9 :, =8 = 9 :, =8 = 6 77 $7 7% ) =: $7 7 7 70 Fjfiof Yrfj` F 6=6,777 66?,300 ?8$?3% )=:$77 7 72 Jkrpkrft` Ftroun F 32,977 26,977 87$:3% )63$77 7 73 Jkrpkrft` J`dt`r F 98,777 98,777 677$77% )==$77 7 78 ] pumloj Bodfdj` F =3,777 68,777 22$23% )=8$77 7 7

07?,998 92=,3== ?7$8:% )=6$30 7 7


B@@YKJJPWO@I

KJJPWFDJ_]FY@

]FY@ ZPML@FZ@2NKDYHZW@DIODC

6 Kd` Fn`rojfd Wlfj` F :::,:72 :=0,72? ? 3$0:% )=7$77 ?0,=78= Mfda Kd` J dtr` . Dkrth Ykw`r F =7=,823 6?7,323 ?9$79% )=6$07 7 0,=20: Mfda Kd` Zkuth Ykw`r F : :=,777 :69,077 ?9$3:% )=7$77 :7,777 79 Joty Wlfzf F 622,=== 6:=,7:3 3?$9:% )=6$07 7 7

3 3 $ $ 63

. .

ZPNNF]_ KB KBBOJ@ NF]A@Y M_ F]@FBkr Jlfss F Muoliodcs

Sìd`sify, Efdufry 70, =766

FJFIOFD+JKLL@C@

IKSDYKSD

0 J oty Wlfzf OO F =03,777 ==7,377 80$88% ) =8$77 63,077 72 Lf Jfp Muoliodc F 3 0,777 28,777 ?7$23% )=9$07 7 7

6 ,: 22 ,: ?0 6 , =0 6, 73 : ? 6$ 02 % ) == $0 8 6 9= ,3 78 0 ,= 20


B@@Y KJJPWO@IKJJPWFDJ_

]FY@ ]FY@ ZPML@FZ@2NKDYHZW@DIODC

6 @ss`d J`dt`r F 66:,777 30,777 22$:3% )=7$77 7 7= Pdotì Wlfzf OR F 3 6,093 20,::= ?6$:6% )=7$77 3 ,362 7: E`bb`rskd Mr`dtwkki F 2 :,2=0 0:,3?2 89$00% )68$07 7 79 Kd` Pdotì Wlfzf F ?9,=79 ?6,20? ?3$:7% )=7$77 7 70 Ywk Pdotì Wlfzf F 6?3,767 6?7,303 ?2$8:% )=7$77 22,=63 72 Pdotì Wlfzf OOO F 27,:8? 97,:8? 22$88% )6?$07 7 73 Pdotì Wlfzf OX F ?3,777 ?3,777 677$77% )6?$07 7 78 Pdotì Wlfzf XOO F 609,777 6=6,263 38$?3% )=7$77 7 7? Pdotì Wlfzf R F 08,:20 08,:20 677$77% )==$77 7 7

67 Pdotì Wlfzf ROOO F 03,?:= 0=,89? ?6$=:% )=7$77 7 766 Pdotì Wlfzf ROO F 08,777 08,777 677$77% D+F 7 76= Mlu`mkdd`t J`dtr` F 36,202 28,??? ?2$=?% )=6$77 7 76: Lkuosofdf Zjhkkl @nplky`` ] t or n`dt F 66=,=0: 66=,=0: 6 77$77% D+F 7 769 Efjkms Wlfzf F 6?=,277 6?=,277 677$77% D+F 7 760 Zhfw F =97,777 =97,777 677$77% D+F 7 762 W`raods ]kw` F 698,777 663,777 3?$70% )=2$77 :7,777 7

6 ,3 8? ,0 86 6 , 2: 0, 26 2 ? 6$ 97 % ) =7 $0 9 6 7: ,? :: 7


B@@YKJJPWO@I

KJJPWFDJ_]FY@


6 9777 Z$ Zh`rwkki Kbboj` Muoliodc F 30,98= 36,?80 ?0$:3% )6?$07 :,?66 7= Jkurt Wlfzf F 22,777 0:,672 87$92% )63$?0 7 7

: JIO J`dt`r F 670,3=7 03,::= 09$=:% )68$07 7 7

=93,=7= 68=,9=: 3:$87% )68$20 :,?66 7

* kb Muoliodcs F]@F JLFZZZVPF]@

B@@YKJJPWO@I

KJJPWFDJ_]FY@


8 FJFIOFD+JKLL@C@ F 07?,998 92=,3== ?7$8:% )=6$30 7 72 IKSDYKSD F 6,:22,:?0 6,=06,73: ?6$02% )==$08 69=,378 0,=20

62 @ZZ@D+MLP@MKDD@Y F 6 ,38?,086 6,2:0,262 ? 6$97% ) =7$09 67:,?:: 7: ZH@]SKKI BK]@ZY F = 93,=7= 68=,9=: 3 :$87% )68$20 :,?66 7

:: :,?6=,2=2 :,0:6,8:9 ?7$=3% )=7$88 =07,00= 0,=20

YKYFL

@ZZ@D+MLP@MKDD@Y

ZH@]SKKI BK]@ZY



22/45

W9= W9:


B @@ Y K JJ PW O@ IKJJPWFDJ_

]FY@ ]FY@ZPML@FZ@

2 NKDYHZW@DIODC

6 Jkrpkrft` OO M 02,977 98,?79 82$36% )69$77 7 7= 09=7 Jkrpkrft` M :7,22: =:,623 30$00% )69$77 7 7

83,72: 3=,736 8=$38% )69$77 7 7



]FY@ ]FY@ZPML@FZ@

2 NKDYHZW@DIODC

6 ] dfossfdj` @fst M 63=,777 63=,777 677$77% D+F 7 7= ]`dfossfdj` S`st M 07,777 7 7$77% )6=$77 7 7: Crfs Ykwd Wlfzf M :=,777 ==,?27 36$30% )69$07 7 79 ]kunfod Muoliodc M ::,869 ::,869 677$77% )62$77 7 70 Ztft` Dftokdfl M 37,777 93,:7? 23$08% )60$77 7 72 Yfylkr Muoliodc M :7,777 =8,377 ?0$23% )60$77 7 73 ::? Blkroif M 99,0=9 6=,=?3 =3$2=% )63$77 7 78 0=0 Blkroif Zt$ (Aodak#s Muoliodc/ M :7,777 :7,777 677$77% )63$77 7 7? Jkrikvf Zqufr` M =7,777 68,077 ?=$07% )=7$77 7 767 Jknn`rj` Muoliodc M 627,777 7 7$77% )6:$77 7 766 Hom`rdof Mfda M 679,=72 679,=72 677$77% D+F 7 76= 077 Lfur`l Ztr``t M =8,777 =8,777 677$77% )60$77 7 7

339,099 9?3,382 29$=3% )60$90 7 7

IKSDYKSD


FJFIOFD+JKLL@C@

. .

ZPNNF]_ KB KBBOJ@ NF]A@Y M_ F]@FBkr Jlfss M Muoliodcs



]FY@ ]FY@ZPML@FZ@

2 NKDYHZW@DIODC

6 Flphf Muoliodc (8=86 Ckkiwkki/ M :7,=7? =:,2:7 38$==% )69$07 7 7= I fd Ykw`r (0377 Blkroif/ M 82,:6= 29,3:9 30$77% )69$77 7 7: Noi Joty Wlfzf (9?2= Blkroif/ M :6,?30 :6,?30 677$77% D+F 7 79 Ior`jt C`d`rfl . 67=00 Blkroif M ?7,8?8 7 7$77% )67$77 7 70 6?77 Lkmi`ll M 0:,777 63,=69 :=$98% )67$07 7 72 6336 Dkrth Lkmi`ll M 667,777 :3,777 ::$29% )?$77 7 73 Mkd Jfrr` M 36:,03: 26:,37= 82$77% )62$07 :,297 7

6,660,?23 388,=00 37$2:% )6=$9= :,297 7



]FY@ ]FY@ZPML@FZ@

2 NKDYHZW@DIODC

6 OMN M 06,838 =?,=2: 02$96% )68$07 7 7= FDNJ M :2,777 :9,=77 677$77% )62$77 7 7: Zh`rwkki OO M =0,887 =9,:32 ?9$6?% )60$77 7 79 Zh`rwkki Kfas Kbboj` Wfra M 67:,777 88,777 80$99% )60$77 7 70 Zh`rwkki Wlfzf Musod`ss Wfra M 26,777 07,930 8=$30% )60$77 7 72 6736? Forlod` M :3,077 :7,=7: 87$09% )63$07 7 73 M`llskuth Muoliodc M 6==,89? 67=,89? 8:$3=% )60$77 7 78 Z`juroty Dftokdfl M 90,:38 90,:38 677$77% )69$07 7 7? Zh`rwkki Ykw`r M 33,37= 30,0?3 ?3$=?% )60$77 7 7

026,683 987,:96 80$0?% )60$3= 7 7

MPOLIODC JLFZZ ZVPF]@B @@ Y K JJ PW O@ I KJJPWFDJ_]FY@ ]FY@ ZPML@FZ@ 2 NKDYHZW@DIODC6 3969 W`raods ]kfi M 3=,690 26,?27 80$88% )69$77 7 7= @ss`d Jrkssodc M 0=,22? 93,9:: ?7$72% )60$77 7 7

6=9,869 67?,:?: 83$29% )69$07 7

* kb Muoliodcs

F]@FJLFZZ

ZVPF]@B @@ Y K JJ PW O@ I

KJJPWFDJ_]FY@ ]FY@

ZPML@FZ@ 2 NKDYHZW@DIODC

= FJFIOFD+JKLL@C@ M 83,72: 3=,736 8=$38% )69$77 7 76= IKSDYKSD M 339,099 9?3,382 29$=3% )60$90 7 73 BLK]OIF+FO]LOD@ M 6,660,?23 388,=00 37$2:% )6=$9= :,297 7? ZH@]SKKI BK]@ZY M 026,683 987,:96 80$0?% )60$3= 7 7= @ZZ@D+MLP@MKDD@Y M 6=9,869 67?,:?: 83$29% )69$07 7 7

:= =,22:,030 6,?93,892 3:$6:% )69$9= :,297 7

BLK]OIF+FO]LOD@

ZH@]SKKI BK]@ZY

@ZZ@D+MLP@MKDD@Y

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F]@FJLFZZ

ZVPF]@B@@Y KJJPWO@I

KJJPWFDJ_]FY@ ] FY @ Z P ML @F Z@ W @ DI OD C

6 FJFIOFD+JKLL@C@ F " M 0 ?2,066 0 :9,3?: 8?$20% )63$88 7 7= IKSDYKSD F " M =,697,?:? 6,398,80? 8 6$2?% )68$98 69=,378 0,=20: BLK]OIF+FO]LOD@ F " M 6,660,?23 388,=00 37$2:% )6=$9= :,297 79 ZH@]SKKI BK]@ZY F " M 878,:8? 22=,329 86$??% )63$6? :,?66 70 @ZZ@D+MLP@MKDD@Y F " M 6 ,?69,:?0 6,390,77? ?6$60% )63$0= 67:,?:: 7

, 3 , 6 , 3 , $ % )6 $ ,6 ,

5

Bkr Jlfss F " M Muoliodcs


2 ,0 32 ,= 76 0 ,9 3? ,2 87 8 :$ :: % ) 62 $2 ? = 09 ,6 ?= 0 ,= 20

..

6 6

66

66

, 3 $ 6 , 6 $ 6 , $ ,3 $6, 6, 3 $ 3 6,33 , 3$ 3 6,36 , $3 6,3 , 6$

, $ ,6 $ ,66 3 $3 3 , 3 $, 6$ 3, $ 6, $ ,3 6$

6, 6 , 3 $36 6, , $ 6, 6, 6 $ 6,3 , 6$6

, , $ , , 3 $ 3 , , $ 3 , 3 , $

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6 , 66 9,3 $ % 63$Y ,69 , 6,39 , 6$ % 6 $9 69 ,3 ,

6,66 , 3 3 , 3 $ % 6 $9 , 99 Y , ,3 9 6$ % 63$6 , 66

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F]@F JLFZZW]@.AFY]ODFKJJPWFDJ_

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KJJPWFDJ_%

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FBY@]AFY]ODF

KJJPWFDJ_SODY@] =766

KJJPWFDJ_%SODY@] =766

F JF IO FD +J KL L@ C@ F " M 0 27 ,= 83 ? 7$ :? % 2 6? ,8 =? 6 77 $7 7% 2 60 ,0 7: ? ?$ :7 % 0 :9 ,3 ?: 8 ?$ 20 %I KS DY KS D F " M 6 ,9 06 ,= 98 3 ?$ 73 % 6 ,3 32 ,: =? ? 3$ 93 % 6 ,3 68 ,= 9? ? 0$ 3? % 6 ,3 98 ,8 0? 8 6$ 2? %

BL K] OI F+ FO ]L OD @ F " M =: 2, 7? = 27$ 0: % :=: ,6 80 87$ :2 % ?2 =, 66 7 3 ?$ 39% 38 8, =0 0 37 $2 :%Z H@ ]S KK I BK ]@Z Y F " M 00 :, :: 8 86$ :2 % 273 ,0 2= ?7$ 97 % 2: 6, 28 : ? :$ ??% 22 =, 32 9 86 $? ?%@ ZZ @D +M LP @M KD D @Y F " M 6 ,0 6? ,9 3? ? 0$ 36 % 6 ,2 9= ,? := ? ?$ 8: % 6 ,2 =6 ,= ?6 ? 8$ 0= % 6 ,3 90 ,7 7? ? 6$ 60 %

9 ,: =7 ,9 99 8 9$ 99 % 9 ,? 2? ,8 :3 ? 2$ =3 % 0 ,0 98 ,8 :2 ? 9$ ?3 % 0 ,9 3? ,2 87 8 :$ :: %

EKOD YKIF_&


23/45

]@ZOI@DYOFLY]@DIZ

@x@JPYOR@ ZPNNF]_

]`soi`dtofl nfra`t jkdiotokds r`nfod stynoì$ Yh` Cr`ft`r Mftkd ]kuc` Nfra`t hfs

bforì m`tt`r thfd nkst kb th` r`st kb th` dftokd mut jkdiotokds r`nfod skbt$ Yhos os iu` tk f

lfjalust`r r`jkv ry my th` Dftokdfl jkdkny fdi iobbojulty od kmtfododc bodfdjodc$ Yh` bfll od

sfl`s vklun` thft m`cfd od =773 jkdtodu`s woth fd fiiotokdfl irkp od th` tktfl dunm`r kb sfl`s

r`pkrtì tk NLZ brkn =767 tk =766 kb 3$86%$ Jurr`dt odv`dtkry rks` my 66$2:% kv`r lfst

y`fr, fdi nkdths odv`dtkry rks` my =6$=6%$ Nkdths odv`dtkry os strkdcly onpfjtì my th` rft`

kb sfl`s, mut thos os stoll f socdobojfdt odjr`fs`$ Yktfl dunm`r kb sfl`s irkppì od Lovodcstkd,

Fsj`dsokd fdi @fst Mftkd ]kuc` Wfrosh`s fdi odv`dtkry odjr`fsì od fll thr``$ Yh` strkdc`st

fr`f kb th` r`soi`dtofl nfra`t os th` sfl` kb d`w hkn`s od th` )677,777 tk )==0,777 rfdc`,

`v`d woth th` `xporftokd kb borst ton` hkn` muy`r jr iots$ Ywk kb th` pkkr`st p`rbkrnodc

nfra`ts fr` th` fttfjhì r`soi`dj` (jkdiknodoun fdi tkwd hkn`/ nfra`t, wh`r` sfl`s vklun`

irkppì d`frly =:% lfst y`fr fdi th` nkr` xp`dsov` d`w hkn` jft`ckry wh`r` hkn`s fmkv`

)977,777 irkppì od tktfl dunm`r kb sfl`s my 97% lfst y`fr, fbt`r irkppodc 2=% th` y`fr

m`bkr`$

NF]A@Y KR@]RO@S

Yh` iftf stuioì odjlui`s fll sfl`s r`pkrtì tk th` Cr`ft`r Mftkd ]kuc` Nultopl` Lostodc

Z`rvoj` whojh odjlui`s @fst Mftkd ]kuc , S`st Mftkd ]kuc`, Lovodcstkd, Fsj`dsokd, Om`rvoll`,

Wkodt` Jkup``, @fst B`lojofdf fdi S`st B lojofd f Wfrosh`s$ Lfst y`fr th`r` w`r` kv`r 6$= mollokd

ikllfrs od sfl`s r`pkrtì tk th` Cr`ft`r Mftkd ]kuc` Nultopl` Lostodc Z`rvoj` my f n`nm`rshop

kb kv`r =277 fc`dts$ Yhos stuiy fpplo`s tk nfra`t iftf fdflyzì brkn Nfrjh 62th, =779 tk

B`mrufry 62th, =766$ Fll iftf wfs fdflyzì kd f 6=.nkdth mfsos brkn Nfrjh 62th tk B`mrufry

62th$

Yh`r`bkr`, wh`d th` y`fr =77? os r`b`r`djì m`lkw, ot n`fds Nfrjh 62th =77? tk B`mrufry 62th

=767, fdi wh`d th` y`fr =767 os r`b`r`djì ot r`b`rs tk Nfrjh 62th =767 tk B`mrufry 62th

=766$

W99 W90

]@ZOI@DYY]@DIZJKNNOYYN@NM@]Z

Ykn Jkka (ZIfvoi Sfi`Nfro` Sfi`

Jkka, Nkkr`" Fsskjoft`s


24/45

Fd fdflysos kb iftf tfa`d brkn th` Cr`ft`r Mftkd ]kuc Nultopl` Lostodc Z`rvoj` brkn =779

tk =766 odiojftì thft brkn Nfrjh kb =767 tk B`mrufry kb =766, th`r` w`r` f tktfl kb 2,:96

sfl`s$ Yhos wfs ikwd brkn 2,838 sfl`s od th` pr`vokus y`fr fdi ikwd brkn th` hoch kb 66,8=2

sfl`s od =770$ Yktfl sfl`s vklun` b`ll tk fmkut )6$=:0 mollokd, ikwd brkn fmkut )6$:6: mollokd

th` pr`vokus y`fr$ Yhos r`pr`s`dts f irkp kb 3$86% od tktfl sfl`s fdi f irkp kb 0$?7% od th`

tktfl sfl`s vklun $ Hkw`v`r, fv`rfc` lost proj`s rks` brkn )6?2,832 od =77? tk )=76,:29 od

=767$

Yhos r`pr s`dts fd odjr`fs` od lost proj`s kb =$=8% brkn =77? tk =767$ Fv`rfc sfl` proj`s

rks` brkn )6?7,?:6 od =77? tk )6?9,836 iurodc th` sfn` ton p`roki$ Yh` odjr`fs` od sfl`

proj` r`pr s`dts =$72%$ Yh` fv`rfc ifys kd nfra`t (IKN/ b`ll tk ?7 od =767 brkn ?9 od

=77? kr 9$=2%$ Yh` nkdths kb odv`dtkry odjr`fsì tk ?$7: od =767 vs 3$90 od =77? r`pr .

s`dtodc f =6$=6% odjr`fs`$ Od sunnfry, th` dtor` nfra`t xp`ro`djì f i`jr`fs` od vklun`

mkth od dunm`r kb sfl`s fdi tktfl ikllfr vklun` mut th`r` w`r` skn` slocht odjr`fs`s od sfl`

proj` fdi i`jr`fs`s od th` ton` ot tkka tk s`ll f hkn`, v`d woth tktfl odv`dtkry odjr`fsodc$

Yh` croi thft bkllkws i`nkdstrft`s jhfdc`s brkn =779 tk =766$

W92 W:

]@ZOI@DYOFLY]@DIZ


25/45

]@ZOI@DYOFLY]@DIZ Y]@DIZ =766

NFEK] NF]A@Y Z@CN@DYZ5

Yh` Cr`ft`r Mftkd ]kuc` nfra`t os iknodftì my thr`` pfrosh`s5 @fst Mftkd ]kuc`, Lovodcstkd,

fdi Fsj`dsokd$ Kv`r ?7% kb th` sfl`s r`pkrtì tk NLZ tfa` plfj` od th`s` thr`` pfrosh`s$ @fjh

nfra`t s`cn`dt wfs fdflyzì s`pfrft`ly$

@fst Mftkd ]kuc`

@fst Mftkd ]kuc` xp`ro`djì sonolfr tr`dis fs jknpfrì tk th` tktfl Cr`ft`r Mftkd

]kuc` Nfra`t$ Yh` tktfl dunm`r kb sfl`s b`ll my 67$09% kv`r lfst y`fr$ Yh` bfll brkn =77? tk

=77? wfs kv`r 8$2:%$ Od =77?, :,?=8 sfl`s tkka plfj`, fdi od =767 th`r w`r` :,069$ Lost

proj`s rks` my :$29% brkn )=79,97? od =77? tk )=66,800 od =767$ Zfl` proj`s flsk rks`

brkn )6?3,:39 tk )=79,==7 iurodc th` sfn` p`roki r pr`s`dtodc f kd` y`fr odjr fs` kb

:$93%$ Sh`d th` ton` ot tkka tk s`ll f hkn` od @fst Mftkd ]kuc Wfrosh wfs fdflyzì, th`

nfra`t r`bl`jtì fd i`jr`fs` brkn ?: ifys od =77? tk 80 ifys od =767 r`pr`s`dtodc f i`jr`fs`

kb 8$27% od nfra`todc ton`$ Jurr`dt odv dtkry odjr`fsì brkn =,:80 od =77? tk =,0?9 od =767,

r`pr`s`dtodc fd odjr`fs` kb d`frly 8$32%$ Yh` jurr`dt nkdthly odv`dtkry odjr`fsì my kv`r

=7% iu` tk slkwodc sfl`s$

Yh` croi m`lkw r`bl`jts nfra`t iftf bkr @fst Mftkd ]kuc` Wfrosh brkn Nfrjh 62th =779 tk

B`mrufry 62th =766$

Fsj`dsokd

Yh` pfrosh kb Fsj`dsokd flsk xp`ro`djì f bfll od tktfl dunm`r kb sfl`s fdi od ikllfr vklun`$

Mkth jft`ckro`s i`jr`fsì my kv`r 0% fbt`r odjr`fsodc my 2$83% fdi 6$0:%, r`sp`jtov`ly th`

y`fr m`bkr $ Lost proj`s fdi sfl` proj`s r`nfodì flnkst blft od Fsj`dsokd woth l`ss thfd 6%

odjr`fs`s$ Ifys kd nfra`t i`jr fsì my 2$:=% od =767 tk 8? brkn ?0 th` y`fr m`bkr $ Jur.

r`dt odv`dtkry rks` my 8$23% brkn 3:8 hkn`s fvfolfml` bkr sfl` od =77? tk 87= od

=767$

Ot os flsk odt`r`stodc tk dkt` thft od =772 fbt`r Hurrojfd` Aftrodf th`r` w`r` =,763 sfl`s, sk th`

irkp od sfl`s vklun` brkn =772 tk =767 wfs 29$3?%$ Wrokr tk th` stkrn od =779 th`r` w`r`

6,938 hkn`s skli od Fsj`dsokd Wfrosh, fdi od =767 th`r` w`r` kdly 6,==0 hkn`s skli sk

th` sfl`s vklun` hfs stoll dkt r`fjhì pr`.Aftrodf l`v`ls$

Yh` croi m`lkw r`bl`jts nfra`t iftf bkr Fsj`dsokd Wfrosh brkn Nfrjh 62th =779 tk

B`mrufry 62th =766$

W98 W9?


26/45

W= W06

Y]@DIZ =766

S` adkw thft wh`d ykur` muoliodc f bfnolys hkn , hfvodc th` rocht tkkls bkr th` ekm nfa`sth` ekm ck nujh snkkth`r$ _ku jfd fpply kdlod` ft`dt`rcylkuosofdf$jkntk turd kd s`rvoj`bkr d`w r`soi`dtofl jkdstrujtokd fdi tk fjj`ss stfdifris odbkrnftokd$

S` fr` wkraodc hfri tk nfa` ot `fso`r bkr yku tk ik musod`ss$

Yhfts Yh` Wkw`r kb W`kpl`$ @dt`rcy$

F n`ssfc` brkn @dt`rcy Culb Ztft`s Lkuosofdf, L$L$J$ fdi @dt`rcy Lkuosofdf, LLJ =766 @dt`rcy Z`rvoj`s, Odj$ Fll ]ochts ]`s`rvì$

Muoliodc jknnudoto`skd` bfnoly ft f ton`$

Ikddf Zhfh``d

Fjjkudt Z`rvoj` ]`pr`s`dtftov`Ckdzfl`s, LF(==0/ :8=.9860ishfh``G`dt`rcy$jkn

I`ddos Znoth

Fjjkudt Z`rvoj` ]`pr`s`dtftov`Mftkd ]kuc`, LF(==0/ 32:.0=03isnot60G`dt`rcy$jkn

Lovodcstkd

Lovodcstkd Wfrosh typojflly hfs m``d th` pfrosh wh`r` nkr` fbbkrifml` hkusodc xost$ Yh` fv`r.

fc` sfl` proj` od Lovodcstkd Wfrosh od =77? wfs )60?,2=8, fs jknpfrì tk th` fv`rfc sfl`

proj` od @fst Mftkd ]kuc` Wfrosh kb )=79,==7, fdi Fsj`dsokd Wfrosh kb )=7=,??:$

Lovodcstkd Wfrosh xhomotì skn kb th` slkw`st nfra`t jkdiotokds wothod th` Cr`ft`r Mftkd]kuc` fr`f brkn =773 tk =778 mut s``nì tk hfv` r`mkudiì skn`whft brkn =778 tk =77?$

Od =778, th`r` w`r` 6,=78 sfl`s thft tkka plfj`$ My =77? thft dunm`r hfi odjr`fsì tk 6,=?6,

fd odjr`fs` kb 2$83% fbt`r bfllodc my =:$29 % th` y`fr m`bkr`, mut nfra`t jkdiotokds slkwì

fcfod od =767$ Yktfl sfl`s irkppì brkn 6,=96 od =77? tk 6,7?= od =767 kr fmkut 6=%$ Ikllfr

vklun` irkppì iurodc th` sfn` p`roki my 6=$?0%, whol` lost proj`s fdi sfl` proj`s mkth b`ll od

=767$ Yh` fv`rfc ifys kd nfra`t w`dt brkn 8? od =77? tk 677 od =767, fd odjr`fs` kb kv`r

6=%$ Odv`dtkry sjflftì my 69% brkn 337 hkn`s fvfolfml` bkr sfl` od =77? tk 83? hkn`s

fvfolfml` od =767$ Yh` tktfl nkdth odv dtkry `sjflftì my =?$3% kv r th` sfn` p`roki$ Yh`

r`jkv`ry thft fpp`frì tk m` tfaodc plfj` od Lovodcstkd hfs slkwì, fdi v`d thkuch ot fpp`frs

tk m` r`jkv`rodc brkn th` kv`rmuoliodc ot xp`ro`djì fbt`r Hurrojfd` Aftrodf, th` pfrosh hfs

stoll dkt r`fjhì th` sfl`s vklun` ot prkiujì prokr tk th` stkrn$ Od =779 th`r` w`r` 6,:92

hkn`s skli od Lovodcstkd Wfrosh, fdi od =767 th` sfl`s vklun` wfs 6,7?=$ Yh` tktfl dunm`r kb

sfl`s hfi ros`d tk f hoch kb 6,8=2 fbt`r Hurrojfd` Aftrodf$

Yh` croi kd th` bkllkwodc pfc` r`bl`jts nfra`t iftf bkr Lovodcstkd Wfrosh brkn Nfrjh 62th =779

tk B`mrufry 62th =766$


27/45


28/45

W09 W00

D`w Hkn` Zfl`s )==0,777 tk ):77,777 . Cr`ft`r Mftkd ]kuc`

D`w hkn`s, od th` noi proj` rfdc`, od th` cr`ft`r Mftkd ]kuc` NLZ fr`f b`ll rfth`r irfnfto.

jflly kv`r lfst y`fr$ Od =77? th`r` w`r` :98 sfl`s od thos proj` rfdc` fdi thft dunm`r irkppì

od =767 tk =60, r`pr`s`dtodc f bfll kb :8$==%$ Ikllfr vklun irkppì d`frly :8% flsk$

Wroj`s od thos jft`ckry w`r` stfml`, odjr`fsodc l`ss thfd =%$ Yh` mrocht spkt os thft odv`dtkryhfs irkppì my d`frly :2% sk th` nfra`t fpp`frs tk m` fmskrmodc th` hkn`s od thos jft`ckry$

Yh` jurr`dt odv dtkry od =77? wfs ==2 hkn`s fdi od =767 thft dunm`r hfi bfll`d tk 690$ Yh`

fv`rfc` ifys kd nfra`t b`ll my fmkut 6=% fdi th` nkdths odv`dtkry odjr`fsì my kdly :$80%$

Ot fpp`frs thft v`d woth slkw sfl`s, proj`s fr` hkliodc fdi th` odv`dtkry os mòdc fmskrmì od

thos jft`ckry kb d`w hkn`s$

F croi r`pr`s`dtodc jhfdc s brkn Nfrjh kb =779 tk B`mrufry kb =767 od th` )==0,777 tk

):77,777 proj` rfdc bkllkws5

D`w Hkn` Zfl`s ):77,777 tk )977,777 . Cr`ft`r Mftkd ]kuc`

Od th` ):77,777 tk )977,777 proj` rfdc`, sfl`s vklun irkppì my 9:$79% od =77? fbt`r irkp.

podc my :3$:7% od =778$ Yh` tktfl dunm r kb sfl`s od thos proj` rfdc` b`ll od =767 my =8$8?%$

Iurodc th` ton` p`roki stuioì, brkn =779 tk =767, th` hoch`st vklun` kb sfl`s tkka plfj` od

=772, th` y`fr bkllkwodc Hurrojfd` Aftrodf woth :62 sfl`s od thos jft`ckry$ Yhft dunm`r hfs

bfll`d tk 29 od =767$ Yhos r`pr s`dts f :?:% bfll od tktfl dunm`r kb sfl`s brkn th` =772 Wkst.

Aftrodf p`fa$ Wrokr tk th` stkrn, thos s`cn`dt kb th` nfra`t c`d`rftì ?9 sfl`s fdi sk thos

s`cn`dt kb th` nfra`t os stoll kv`r 90% m`lkw th` nkr` stfmolozì nfra t kb =779$ Wroj`s fr`

stfml` woth l`ss thfd f 6% jhfdc` od thos jft`ckry$ Odv`dtkry hfs i`jr`fsì my :0$=0% v`d woth

th` slkw rft` kb sfl`s$ Nkdths odv`dtkry flsk i`jlodì my d`frly ?%$

F croi r`pr`s`dtodc jhfdc`s brkn Nfrjh kb =779 tk B`mrufry kb =767 od th` ):77,777 tk

)977,777 proj` rfdc` bkllkws5

]@ZOI@DYOFLY]@DIZ Y]@DIZ =766


29/45

Y]@DIZ =766

W= W03

]`soi`dtofl Zfl`s fdi L`fsodc

Fsj`dsokd ==0.23:.9333

Lovodcstkd ==0.3?6.6?6?

W`raods ==0.32?.6077

Zh`rwkki ==0.=?=.6777

JKNN@]JOFL W]KW@]Y_NFDFC@N@DY

]@ZOI@DYOFL

oWhkd Loda .http5mlyd$jj+ophkd`fpps+dfolftt rmlun$htnl

www$lftt`rmlun$jkn

==0.=?0.7877

www$lftt`rmlunpn$jkn

==0.=?3.3888www$jemrkwd$jkn

_kur

bkrKD@ ZKP]J@

]@FL @ZYFY@

Lkjfl + Clkmfl Nfra`t Jkv`rfc`

Odjkn` Wrkp`rty Fdflysos

Zot` Z`l`jtokd

Lov` Kdlod` Fujtokds

@d`rcy Fuiots fdi Cr``d

Muoliodc Wrkj`ss`s

Jkst Z`cr`cftokd ]`vo`ws

L@@I Fjjrìotì

K bj`

Nulto. Bfnoly

Odiustrofl

]`tfol

F krifml`+Wumloj Hkusodc

]`soi`dtofl

D`w Hkn` Zfl`s )977,777 fdi Fmkv` . Cr`ft`r Mftkd ]kuc`

Yh` luxury hkn` nfra`t jkdsostodc kb thks` hkn`s )977,777 fdi Fmkv` jkdtodu`s tk subb`r

nkr` thfd kth`r jft`ckro`s$ Yh` tktfl dunm`r kb sfl`s i`jr`fsì od =77? my 2=$99%, fdi tktfl

sfl`s vklun` i`jr`fsì my 2=$93% od =77?$ Od =767, th` tktfl dunm`r kb sfl`s b`ll my 97%

fdi ikllfr vklun` b`ll my d`frly :0% od =767$ Yh` fv`rfc` sfl` proj` kb hkn`s od thos jft`ckry

rks` my 8$0?% od =767$ Yh` fv`rfc` ifys kd nfra`t odiojftkr i`jr`fsì my =$=0%$ Yh` lfrc`st

jhfdc` od thos jft`ckry kv`r lfst y`fr wfs th` dunm`r kb hkn`s od odv`dtkry$ Jurr`dt odv`dtkry

irkppì my kv`r 07$09% fdi nkdths kb odv`dtkry irkppì my 63$03% od thos jft`ckry$

F croi r`pr`s`dtodc jhfdc s brkn Nfrjh kb =779 tk B`mrufry kb =767 od th` )977,777

fdi fmkv` proj` rfdc` bkllkws5


30/45

W08 W:

]@ZOI@DYOFLY]@DIZ

Jkdiknodoun + Ykwdhkus` Nfra`t

Flsk stuioì wfs th` jkdiknodoun fdi tkwdhkus` nfra`t$ Yh`s` fr` i`bodì my th` Cr`ft`r

Mftkd ]kuc` Nultopl` Lostodc Z`rvoj` fs fdy r`soi`dtofl strujtur` woth fd fttfjhì wfll$ Yh`s`

typ` hkusodc udots w`r` stuioì brkn th` sfn` ton` p`roki Nfrjh kb =779 tk B`mrufry =766$

Yh` stuiy odjluiì kdly thks` sfl`s r`pkrtì tk th` Cr`ft`r Mftkd ]kuc` Nultopl` Lostodc

Z`rvoj` fdi odjlui` th` dtor` nfra`t fr`f$ Od =767, th`r` w`r` 07: sfl`s r`pkrtì tk NLZ fdi

ot r`pr`s`dts f socdobojfdt sfnpl`$ Hkw`v`r, thos typ` hkusodc os kbt`d skli my th` i`v`lkp`r

ior`jtly fdi thks` sfl`s fr` dkt r`pkrtì tk NLZ$

Z`v`rfl thodcs kb odt`r`st fr` wkrthy kb pkodtodc kut$ Od =779, th` fv`rfc` sfl` proj` bkr fd

fttfjhì r`soi`dj` wfs )679,606, my =778 thft bocur hfi ros`d tk )6?2,9=6$ Ot b`ll od =767

tk )69?,=69$ Yh` fv`rfc proj` kb fd fttfjhì r`soi`dj` b`ll my =0$63% brkn =778 tk =77?$

Yh` fv`rfc` proj` r`nfodì stfml` brkn =77? tk =767 rosodc kdly 6$06% $ Yktfl sfl`s irkppì

my ==$2=% kv`r lfst y`fr brkn 207 tk 07:, fbt`r bfllodc my =0$92% brkn =778 tk =77? (83=

tk 207/$ Yh` fv`rfc` ifys kd nfra`t i`jr`fsì tk 672 brkn 69? od =77?, kr f i`jr`fs` od

nfra`todc ton` kb fmkut =8$82%$ Jurr`dt odv`dtkry wfs rìujì my 66$?0% kv`r =77?, mut

m`jfus` kb slkwodc sfl`s rft`s th` fv`rfc` tktfl nkdths od odv`dtkry rks` my 6:$3?% brkn

69$=6 nkdths tk 62$63 nkdths$

F croi r`pr`s`dtodc jhfdc s brkn Nfrjh kb =779 tk B`mrufry kb =766 od th` Fttfjhì

]`soi`dtofl hkusodc nfra t bkllkws5


31/45

W27 W26

]@ZOI@DYOFLY]@DIZ

v

v

@xp`rt Zfl`s, L`fsodc " Wrkp`rty Nfdfc`n`dt

Yh` pholkskphy kb KD@ prkp os tk nfdfc` fdi l`fs` ykur prkp`rtyprkb`ssokdflly, jkdknojflly fdi bbojo`dtly$

KD@ prkp wfs bkudiì od 6?83 fdi os f bfnoly kwdì jknpfdypr`s`dtly nfdfcodc prkp`rto`s od Lkuosofdf, Y`xfs, Kalfhknf,Frozkdf fdi Dkrth Jfrklodf$

Sh`th`r yku fr s`llodc tk odv`stkrs, lkkaodc tk c`t kut kb prkp`rtynfdfc`n`dt kr fr` odv`stkrs lkkaodc bkr l`fsodc fdi prkp`rtynfdfc`n`dt s`rvoj`s, KD@ prkp os ykur sklutokd$

JKDY FJY PZ Y KIF_&

(==0/ ??:.960?ncnts`rvoj`sGKD@prkp$jkn

www$KD@prkp$jkn

Jkdjlusokds

Yh` r`soi`dtofl nfra`t fpp`frs tk hfv` r`nfodì bforly lfjalust`r od =767$ @v`ry jft`ckry

stuioì xp`ro`djì f irkp od tktfl sfl`s woth th` xj`ptokd kb th` lkw`r proj` rfdc` d`w hkn`s

thft hfi f slocht odjr`fs` kb :$20%$ Wroj`s fr` dkt irkppodc socdobojfdtly od fdy kd` jft`ckry

mut fr` dkt odjr`fsodc irfnftojflly oth`r$ Odv`dtkro`s fr` i`jr`fsodc slochtly od skn` jft`ck.

ro`s fdi odjr`fsodc od kth`rs mut dk kd` jft`ckry fpp`frs tk m` r`mkudiodc m`tt`r thfd fdkth`r$

Nfra`t jkdiotokds r`nfod skbt fdi udl`ss nujh strkdc`r ekm crkwth fdi bodfdjodc m`jkn`

fvfolfml`, ot woll r`nfod f lfjalust`r y`fr bkr =766 flsk$


32/45

W2= W2:

Kv`rvo`w+]`jfp kb =767

S`ll eust wh`d w` thkucht th` odiustrofl r`fl stft` nfra`t wkuli c`t m`tt`r flkdc jfn`

=767$ Ot wfs `xp`jtì Qmy nfdy^ tk m` m`tt`r thfd =77?$ Mut nfdy p`kpl`s `xp`jtftokds

w`r` dkt n`t$

Od r`vo`w kb th` lfst b`w y`frs Nfdy odiustrofl r`fl stft` fc`dts hfi flr`fiy stfrtì tk

dktoj` th` jkdknoj i`jlod` tkwfris th` di kb =778$ Hkw`v`r od =778 nfdy lkjfl i`v`lkp.

`rs w`r` stoll usodc thòr nìojflly pr`sjromì Ck.Ukd` st`rkois, whojh kb jkurs` mkkstì thòr

p`rbkrnfdj fdi nfi` kutput+stftostojs bkr kur lkjfl r`fl stft` nfra`t sydth`tojflly odblftì$

S` ad`w thos tk m` tru` fdi O thoda w` fll `xp`jtì =77? tk m` f ikwd y`fr$ Fdi =77? wfs

i`bodot`ly f ikwd y`fr$ Mut =767 wkuli j`rtfodly c`t m`tt`r rocht;;; Srkdc&

Lodc`rodc stfcdftokd brkn th` di kb th` Ck.Ukd` odj`dtov`s jkdtoduì$ B`fr brkn th` MW kol.

w`ll iosfst`r hfltì irollodc od th` Culb$ Fdi th` strkdc dftokdfl r`j`ssokd wfs od bull swodc bkr

f woi` vfro`ty kb odiustrofl musod`ss`s$ Brkn fd odv`dtkry " stftostojs pkodt.kb.vo`w, =767

wfs th` wkrst y`fr bkr odiustrofl r`fl stft` od kv`r f i`jfi`$ Fdi sk lkkaodc mfja (fdi fssun.

odc w` hfv` survovì th` wkrst kb ot/, th` r`j`ssokd wfs nujh lkdc`r thfd fdtojopftì mòdc

b`lt bkr =.: y`frs od Lkuosofdfs Cr`ft`r Mftkd ]kuc` fr`f$

Kd f pksotov` fdi skn`whft kptonostoj dkt`, ot os th` m`lo`b kb th` Odiustrofl Yr`dis Jknnott``

thft th`r` os locht ft th` di kb th` r`fl stft` tudd`l bkr Cr`ft`r Mftkd ]kuc (CM]/$

Dkt`wkrthy Odiustrofl Yr`dis

Kd` socdobojfdt fdi bfvkrfml` tr`di thft hfs n`rcì bkr kur fr`f os th` fmudifdj` kb Dftu.

rfl Cfs . iu` od lfrc` pfrt tk th` Hfyd`svoll` Zhfl` $ Yhos Hfyd`svoll` Zhfl` plfy hfs h`lpì

rìujì th` proj` kb Dfturfl Cfs p`r nollokd Mrotosh th`rnfl udot (NNMtu/, whojh os v`ry

Y]OFL Y]@DIZOYY@@ N@NM@]Z

`v`y, NWFWrkp`rto`srnfdr/

fra`r, JJON, ZOK]ftt`r " Mlunornfd

Cfrr`tt, JJON, ZOK]Mkx Jknn`rjofl

tft`

uoiry, JJONflckust " Fsskjoft`sofl ]`fl @stft`

fd ZtfrdsEfrr`fu ]`fl @stft`

jhodcsftt`r " Mlun

bfvkrfml` bkr kur lkjfl p`trkjh`nojfl odiustry$ Yh` proj` kb Dfturfl Cfs os xp`jtì tk r`nfod

lkw fdi stfml` bkr onnìoft` butur $ Nfdy kb kur lkjfl p`trkjh`nojfl plfdts us` Dfturfl Cfs

(fs kppks` tk Jrui` Kol/ fs b`ì.stkja$ Yhos lkw`rì fdi stfml` proj` kb Dfturfl Cfs fllkws

kur lkjfl p`trkjh`nojfl plfdts tk nfa` thòr prkiujts nujh jh`fp`r, whojh jfd cov` th`n fdi

fivfdtfc` wh`d jknp`todc fcfodst p`trkjh`nojfl plfdts od @urkp` whk us` jrui` kol fs thòr

b`ì.stkja$ Jrui` kol proj`s jkdtodu` tk tr di od th` )87.)?7 p`r mfrr`l rfdc $ Ft y`fr `di, th`

jurr`dt proj` kb Dfturfl Cfs os hkv`rodc eust m`lkw th` )9 p`r NNMtu rfdc`$ Yypojflly, wh`d

th` proj` kb jrui` kol (p`r Mfrr`l/ os 8x. ?xs cr`ft`r thfd th` proj` kb Dfturfl cfs (p`r NNMtu/

ot m`cods tk `bb`jt odt`rdftokdfl sfl`s kb p`trkjh`nojfl prkiujts od kur bfvkr$ Ft th` `di kb th`

y`fr th` proj` kb Jrui` Kol wfs flnkst =7xs cr`ft`r thfd th` proj` kb Dfturfl Cfs$

Yh` tr`di kb lfrc`.sjfl` odiustrofl i`v`lkpn`dt hfs flsk jkdtoduì bkr th` CM] fr`f$ Lfst

y`fr w` r`pkrtì th` jknpl`tokd kb Nfrfthkds r`bod`ry od Cfryvoll`$ Od =767, ot wfs kbbojoflly

fddkudjì thft Dujkr Jkrpkrftokd odt`diì tk muoli f Zt``l Noll lkjftì od Zt Efn`s Wfrosh$

Od bfjt, Dujkr Jkrpkrftokd, f bkrtud` :77 jknpfdy, woll m`cod Whfs` 6 (jkst kb fmkut )307

nollokd/ kb fd fpprkxonft`ly )9 mollokd poc orkd plfdt iurodc th` 6st hflb kb =766$ Yhos i`jfi`

lkdc prke`jt, whojh os plfddì od 0 phfs`s, os xp`jtì tk jr`ft` thkusfdis kb ekms bkr th` lkjfl

`jkdkny " mkkst th` CM] odiustrofl r`fl `stft` nfra`t bkr y`frs tk jkn`$

Fdkth`r dktoj`fml` fdi jkdtoduodc tr di os th` r`kp`dodc kb oil` p`trkjh`nojfl plfdts fdi th`

`xpfdsokd kb `xostodc plfdts$ Kv`r th` pfst b`w y`frs w` hfv` r pkrtì th` `xpfdsokd kb fi.

iotokdfl udots ft Zhodt`jhs WRJ plfdts od S`st M] fdi Om`rvoll` Wfrosh`s fs w`ll fs th` xpfd.

sokd kb @xxkds M] r`bod`ry$ Od =767 Krn`t, whojh prkiuj`s flunodf, fddkudjì ot os wkraodc

tkwfris r`kp`dodc th` Murdsoi` bfjoloty od th` 9th kb =766$ Yhos wkuli jr`ft` fpprkxonft`ly

=07 ekms ft th` Fsj`dsokd pfrosh bfjoloty$ Yhos r`kp`dodc os mòdc irov`d my th` hoch sfl`s proj`

kb flunodf jkuplì woth th` lkw proj` kb dfturfl cfs, whojh os usì tk pkw`r+kp`rft` th` plfdt$

Fiiotokdflly, S`stlfa` Jh`nojfl fddkudjì od Euly thft ot woll sp`di )=07. ):77 nollokd kd f

jhlkr.flaflo plfdt mut dkt udtol th` =di hflb kb =76:$

ODIPZY]OFL Y]@DIZ Y]@DIZ =766


33/45

W29 W:

ODIPZY]OFL Y]@DIZ

Yh` tr`dis n`dtokdì fmkv` fr` lfrc`.sjfl` odiustrofl tr`dis thft ior`jtly fbb`jt kur CM]

Odiustrofl r`fl stft` nfra`t th`y bb`jt kur nfra`t m`jfus` th` t`dfdts thft s`rvoj` th`s`

plfdts+r`bod`ro`s nfa up th` nfekroty kb kur odiustrofl ]@ nfra`t$ Zk th` odjr`fsì.horodc

" odjr`fsì.prkiujtokd kb th` p`trkjh`nojfl plfdts " r`bod`ro`s typojflly r`sult od fd odjr`fsì

pksotov` bb`jt hkw nujh odiustrofl spfj` os l`fsì+skli+kjjupoì od kur nfra`t$

%% Yh` Hfyd`svoll` Zhfl` os f rkja bkrnftokd nfodly jknpksì kb jkdskloiftì jlfy.sozì pfrtojl`s i`.

pksotì fdi muroì od dkrthw`st Lkuosofdf fdi @ fst Y`xfs nkr` thfd 637 nollokd y`frs fck iurodc th`

Ppp`r Eurfssoj fc`$ Yh` Hfyd`svoll` Zhfl` hfs r`j`dtly m``d stonftì tk m` th` lfrc`st dfturfl cfs

bo`li od th` jkdtocukus 98 stft`s woth fd stonftì =07 trollokd jumoj b``t (3$6676= n:/ kb r`jkv`r.

fml` cfs$ Wrkiujtokd hfs mkknì sodj` lft` Nfrjh =778, jr`ftodc f dunm`r kb d`w nollokdfor`s od th`

Zhr`v`pkrt, Lkuosofdf r`cokd$Q6^ . Soaopìof

ODIPZY]OFL ODR@DYK]_ HOZYK]_

N@NK % ODR@DYK]_RFJFDY

D@Y FMZK]WYOKD(D@Y JHFDC@ OD

ODR@DYK]_/=779 66$79% 9?2,::0 Z$B$

=770AFY]ODF ONWFJY

2$98% =,62=,?9? Z$B$

=772AFY]ODF ONWFJY

9$39% 6,:86,760 Z$B$

=773 8$22% :82,98: Z$B$

=778@JKD ]@J@ZZOKD

6:$38% (677,262/ Z$B$

=77?@JKD ]@J@ZZOKD

69$6:% 67=,:0? Z$B$

=767@JKD ]@J@ZZOKD

60$7:% (2=,398/ Z$B$


34/45

W20 W23

ODIPZY]OFL RFJFDJ_ FDI FMZK]WYOKD

077,777

7

077,777

6,777,777

6,077,777

=,777,777

=,077,777

:,777,777

:,077,777

9,777,777

=77: =779 =770 =772 =773 =778 =77? =767

Zqufr` B``t

_`fr

Fmskrptokd

Rfjfdjy Odiustrofl Odv`dtkry Ztftostojs Bkr =767 Jkdtodu` Yk I`jlod`

Yh` vfjfdjy rft` kb 60$7:% os th` hoch`st od kv`r f i`jfi`$ Yhos vfjfdjy rft` hfs r`nfodì

hoch bkr th` pfst : y`frs$ Yhos os iu` od lfrc` pfrt tk s`v`rfl mula wfr`hkus` spfj`s thft hfv`

r`nfodì fvfolfml` bkr y`frs$

Flsk dkt`wkrthy, th` d`wly p`rnottì odiustrofl r`fl stft` mòdc jkdstrujtì r`nfodì x.

tr`n`ly lkw m`jfus`5 6/ b`fr kb th` jkdknoj ikwdturd a`pt nfdy lfrc`.sjfl` purjhfs`s fdi

jkdstrujtokd prke jts kd th` sh`lb fdi =/ nkst musod`ss`s thft d`ìì jkdstrujtokd tkka

fivfdtfc` kb th` Ck.Ukd` odj`dtov`s od =772.=778, fdi :/ nfdy musod`ss`s fdi kwd`rs jkuli

dkt kmtfod bodfdjodc$

ODIPZY]OFL ODR@DYK]_ ZYFYOZYOJZ

N@NK =77? =767 % IOBB$

YKYFL ODR@DYK]_ =9,?32,0?3 Z$B$ =0,628,=39 Z$B$ 7$33%

RFJFDY Z$B$ :,0=8,307 Z$B$ :,38:,630 Z$B$ 3$=6%

KJJPWO@I Z$B$ =6,993,893 Z$B$ =6,:80,7?? Z$B$ (7$=?/%

RFJFDY % 69$6:% 60$7:% 2$:3%

D@Y FMZK]WYOKD 67=,:0? Z$B$ (2=,398/ Z$B$ (626$:7/%

PDI@] JKDZY]PJYOKD 9?,37= Z$B$ :=,333 Z$B$ (:9$70/%



35/45

W28 W2?

Y]@DIZ =766

Yh` Fmskrptokd ]ft` r`nfodì lkw, fjtuflly ioppodc tk f d`cftov` 2=,398 Z$B$ Fmskrptokd mfso.

jflly n`fsur`s th` jhfdc` kb odv`dtkry bkr f nfra`t fdi shkws wh`th`r th` odv`dtkry j`dsus

os crkwodc kr shrodaodc$ Kur d`cftov` fmskrptokd rft` n`fds thft th` fnkudt kb fvfolfml`

odiustro fl spfj` od CM] cr`w my 2=,398 Z$B$ Yh` Odiustrofl Yr`dis jknnott`` `xp`jts kur lkjfl

Fmskrptokd tk jkdtoduflly onprkv` kv`r th` d`xt b`w y`frs iu` tk th` onprkvodc `jkdkny fdi

th` lfja kb d`w odv`dtkry mòdc muolt$

DKYOJ@FML@ Y]@DIZ B]KN =767

6$ Ikwdsozodc nfdy jknpfdo`s whks` l`fs`s xpor` od =767 ikwdsoz` tk snfll`r spfj`s

woth shkrt.t`rn L`fs`s$ Y`dfdts r`turd pkrtokds kb spfj`s tk Lfdilkris wh`r` pkssoml`

kr r`lkjft` fltkc`th`r ob d`j`ssfry$

=$ Jkdskloiftokds " N`rc`rs jkdtromutodc tk th` odjr`fsodc vfjfdjy rft`s$

:$ Zuml`fs` s kjjurrodc r`culfrly$

9$ Dkt f lkt kb jknpfdo`s ]`lkjftodcmut nkst thft nkv` fr` ikwdsozodc " ftt`nptodc tk

i`jr`fs` thòr nkdthly r`dt socdobojfdtly$

0$ Nfdy Y`dfdts thr ft`dodc+jlfonodc tk bol` mfdaruptjyod xjhfdc` bkr jh`fp xot

strft`cy " i`lfyì lotocftokd$

2$ Nkvo` Odiustry Y`dfdts kjjupyodc skn` wfr`hkus` spfj` kd shkrt t`rn mfsos od =767

`xp`jtì tk jkdtodu`$

3$ Ztoll f clut kb Moc Mkx spfj`ckodc kd : y`frs&&&


36/45

W37 W36

@FZY MFYKD ]KPC@ WF]OZH MPOLIODC W@]NOYZ

_@F] =778 =77? =767

@M] W@]NOYZ (DPNM@]/ =9,8:8 =6,29? ==,020(Z``5 Dkt` 6/

@M] W@]NOY ()/ )222,39:,??: ):30,0?3,9=0 )367,0:2,79:(Z``5 Dkt` =/

@M] W@]NOY B@@Z ()/ )3,262,?80 )9,606,8?3 )9,838,922

Dkt` 65

@fst Mftkd ]kuc` Muoliodc W`rnots odjlui`s fll jknn`rjofl p`rnots odjluiodc sjhkkls,

jhurjh`s, hkspotfls, kbboj` muoliodcs, fdi odiustrofl muoliodcs$ R`ry b`w =767 p`rnots

bkr d`w odiustrofl muoliodcs$

Dkt` =5

D`w Sknfds Hkspotfl m`cfd jkdstrujtokd fdi fjjkudts bkr fpprkxonft`ly

)=07,777,777 od d`w =767 p`rnot vflu`$

=767 ODIPZY]OFL L@FZ@ ]FY@Z

L`fs` Iftf Yfml`

Wrkiujt Yyp` Zoz`+Zq$ Bt$ L`fs` ]ft`+)Zq$ Bt$

L`fs`Yyp`

Bl`x Zpfj` 6,777 60,777 )67 . )6= D`t

Kbboj`Sfr`hkus` Kli`r

0,777 67,777 )9 . )2 D`t

Kbboj`Sfr`hkus`

D`w

0,777 67,777 )2 . )8 D`t

Sfr`hkus` .Kli`r

0,777 67,777 )= . )9 NkioboìCrkss

Sfr`hkus` Kli`r

67,777 Wlus )= . ): NkioboìCrkss

Sfr`hkus` D`w

67,777 Wlus )9 D`t

$$

$

Od =767, Odiustrofl L`fs` rft`s od th` Cr`ft`r Mftkd ]kuc` fr`f xp`ro`dj` ikwdwfri pr`ssur`

bkr th` 6st ton` sodj` th` frly =777s fs nujh fs 67%.=7% od skn` jfs`s i`p`diodc kd

prkp`rty typ`$ Br `.r`dt odj`dtov`s fdi kth`r l`fs` jkdj`ssokds fr` m`jknodc nkr` jknnkd$

Jrìotwkrthy t`dfdts " lkdc.t`rn l`fs`s irfw th` m`st i`fls$

LKKAODC FH@FI

Yh` di kb =767 mrkucht hòcht`dì fjtovoty$ Yhos sw`ll kb fjtovoty hfs jkdtoduì thrkuchkut

th` 6st Vufrt`r kb =766$ Yh` r`j`dt fjtovoty os w`ll.fmkv` l`v`ls s``d iurodc th` pr vokus =.y`fr

lull$ Nfdy l`fs`s fdi skn` sfl`s hfv` m``d bodflozì iurodc thos 9 nkdth p`roki$ S` nfy m`

ft th` m`coddodc stfc`s kb f tr`di od whojh skn` lkjfl plfdts fr` xp`ro`djodc odjr`fsì horodc$

@frly odiojftokds bkr =766 hfv` shkwd thft CM] Odiustrofl Fllofdj` n`nm`rs odjr`fs` horodc$ Od

skn` jfs`s ot hfs m`jkn` jh`fp`r bkr bkròcd jknpfdo s tk hfv` kur lkjfl prkiujts shoppì

kv`rs`fs m`jfus` nfdy kv`rs`fs plfdts od @urkp` us` jrui` kol fs f b`ì.stkja$ Yh`s` fr`

fll pksotov` socds thft kur odiustrofl r`fl stft` nfra`t jkuli m` turdodc th` jkrd`r fdi thft f

mrocht`r =766 os jknodc



37/45

W3= W3:

Wut ykur jknpfdy od th` h`frt kb kd` kb th` nkstr`jkcdozì musod`ss fr`fs m`tw``d

Mftkd ]kuc` fdi D`w Krl`fds

FZHLFDI IOZY]OMPYOKD J@DY@] FZHLFDI ODIPZY]OFL WF]A

Sh`r` musod`ss jkn`s tkc`th`r

E`ddob`r F$ L `,JJON, ZOK]

e`ddob`rLGs flyd`t$jkn

F Z H LF D I ] K F I

H S _ :

7

OD Y @] Z Y F Y@ 6 7

Y F D C @ ] K P Y L @ Y J F M @ L F Z

]kuc` D`w Krl`fds

Ifdo`l W$ Wkulod,JJON, ZOK]

ifdWGs`flyd`t$jkn

Z@FL_ " JKNWFD_607 Efn`s Irov` @fst, Zuot` 697

D`w Krl`fds, LF 37783(079/ 92:.0277 + (==0/ 323.9332

=6,777 sb FRFOLFML@ DKS BK] L@FZ@(odjlui`s 6,:73 sb kb kbboj` spfj`/

fdi Iostromutokd J`dt`r ft ?:87 Fshlfdi ]kfi os f jlfss F muoliodc od f pron` lkjftokd$bb kb O.67 fdi Hwy :7 od Ckdzfl`s, Lkuosofdf, thos muoliodc kbb`rs ikja. hoch lkfiodc, =9`fr hòcht, @ZB] sprodal`r syst`n, fiiotokdfl truja pfraodc, fdi `fsy fjj`ss tk nfod

Lkuosofdf jkrroikrs kb O.67, O.6=,fdi O.00$

]@YFOLY]@DIZ

F Zurv`y kb Zhkppodc J`dt`rs Od Mftkd ]kuc`5 Zprodc =766

Yhos r`pkrt wfs pr`pfrì brkn iftf jkll`jtì brkn .nfol fdi t`l`phkd` surv`ys kb shkp.

podc j`dt`r nfdfc`rs, l`fsodc fc`dts fdi kwd`rs jkdiujtì my n`nm`rs kb th` Mftkd ]kuc`

Y]@DIZ od ]`fl @stft` ]`tfol Jknnott` $ Zurv`ys w`r` jkdiujtì od B`mrufry fdi Nfrjh$ @x.

t`dsov` odi`p`di`dt v`robojftokd wfs dkt prkvoiì, hkw`v`r quktì r`dts fdi+kr vfjfdjo`s thft

fpp`frì fdknflkus w`r` jh`jaì$

I`sjroptokd kb th` Fdflysos

S` jhfdcì kur surv`y thos y`fr od fd ftt`npt tk mr`fa kut fdjhkr spfj` brkn th` r`dt surv`y$

Wr`vokus surv`ys hfv` hfi r`dtfl rft`s jkll`jtì kd f hoch.lkw mfsos, woth fd fv`rfc` r`dtfl rft`

bkr fjh prkp`rty jfljulftì mfsì kd th` hoch.lkw odiojftkrs$ Yhos jfusì fdjhkrì j`dt`rs

(woth typojflly lkw`r r`dtfls bkr th` lfrc` spfj`s/ tk socdobojfdtly sa`w th` r`dtfl bocur`s$ Fs thos

os th` borst y`fr kb mr`faodc kut th` fdjhkr spfj`s od th` r`dtfl surv`y, th` r`pkrtì r`dtfl rft`s

shkuli dkt m` jknpfrì tk pfst y`fr surv`ys$

Yh` shkppodc j`dt`r surv`y fdflysos os strujturì fs bkllkws5

Zuot`s kv`r 60,777 squfr` b``t fr` jkdsoi`rì tk m` fdjhkr spfj`s$

]`dtfl rft`s bkr dkd.fdjhkr spfj`s fr` jkll`jtì kd f hoch.lkw mfsos, woth fd fv rfc` r`dtfl

rft` bkr fjh prkp`rty jfljulftì mfsì kd th` hoch.lkw odiojftkrs$

Yh` r`dtfls odiojft i fr r`bl jtov kb vfryodc l`fs` t`rns, woth skn` shkppodc j`dt rs

r`quorodc xp`ds` rònmurs`n`dts brkn t`dfdts od fiiotokd tk mfs` r`dtfls fdi skn`

shkppodc j`dt`rs r`quorodc dk fiiotokdfl rònmurs`n`dts$ Yk frrov` ft jkdsost`dt r`dtfls,

fdy fiiotokdfl rònmurs`n`dts pfoi my t`dfdts (c`d`rflly bkr JFN, tfx`s fdi+kr odsurfdj`/

fr` fiiì tk fjh shkppodc j`dt`rs jfljulftì fv`rfc` r`dtfl tk frrov` ft f tktfl fv`rfc`

r`dtfl$

Ftt`npts tk surv`y `fjh shkppodc j`dt`r fr` nfi` `fjh y`fr, hkw`v`r, iu` tk turdkv`r od

nfdfc`n`dt fdi+kr kwd`rshop, r`sults bkr `fjh shkppodc j`dt`r fr` dkt fvfolfml` v`ry

y`fr$ Jknpfroskd kb th` tktfl surv`yì l`fsfml` spfj` fdi dunm`r kb shkppodc j`dt`rs

]@YFOL Y]JKNNOYY@

Ekdfthfd SflaNf`stro. Nurr(Zp`fa`r/

Iktto` Yfrl`tkZtorlodc Wrk

Jhfrlo` JklvoM`fu Mkx Jk]`fl @stft`

Mrfi SfyLftt`r " Mlun

Z`fd NjIkdfliJkka, Nkkr` "

Jhfs` Null`rIkddo` Efrr`f]`fl @stft`, O

Eustod LfdclNoa` Bflckus" Fsskjkft`s

Jklod ZnothAurz " H`rm`


38/45

W39 W30

odiojftì od fjh ton` p`roki shkuli dkt m` tfa`d fs fd odiojftokd kb d`w jkdstrujtokd

fdi+kr i`nklotokd, mut fs fd odiojftokd kb prkp`rto`s bkr whojh iftf wfs prkvoiì$

Yh` Rfjfdjy ]ft` bocur`s pr`s`dtì shkuli dkt m` vo`wì fs f nftjhì sfnpl`, fs th`

bocur`s bkr `fjh ton` p`roki r`bl`jt th` r`sults bkr `fjh odiovoiufl surv`y$ Yh`y fr`, hkw`v`r,

jkdsoi`rì tk m` odiojftov` kb c`d`rfl nfra`t jkdiotokds$

Kdly shkppodc j`dt`rs kb kv`r 60,777 squfr` b``t kb l`fsfml` spfj` fr` odjluiì od th`

surv`y$ Dun`rkus snfll strop j`dt`rs thrkuchkut th` Mftkd ]kuc` fr`f fr` `xjluiì brkn

th` fdflysos iu` tk th` nodonfl soz` r`quor`n`dt bkr th` surv`y$

OD ]@FL @ZYFY@ , I@FLODC _KP] JLO@DY F SODD@] N@FDZ L@FRODC DKYHODC YK JHFDJ@$

Ft EN] Jknn`rjofl ]`fl @stft`, w` l`fv` dkthodc tk jhfdj` wh`d ot jkn`s tk bdiodc prkp`rto`s thft fr` th` p`r `jt bt kr kur jlo`dtsmuic`ts fdi thòr musod`ss strft`cy$ Hkw; My udi`rstfdiodc thòr udoqu` d`ìs whol` puttodc kur w`flth k mrka`rfc` adkwlìcjfpfmoloto`s tk wkra kr th`n od kri`r tk dkt kdly n``t, mut `xj`ì thòr `xp`jtftokds$ Brkn s`frjh fdi quflo yodc tk jlksodc th` i

EN] hfs th` r`skurj`s fdi ftt`dtokd tk i`tfol ot tfa`s tk c`t th` ekm ikd`$ Lkkaodc kr r`tfol spfj`, k bj` kr odiustrofl prkp`rty, kr ltk muoli kr l`fs`;

2011 trends in baton rouge real estate

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