|                               |           |  Initial costs  |  Subsequent costs                        |  Costs at end of the year  |           |                                     |        |                     |                               |
|------------------------------------|--------------------------|---------------------------|----------------------------------------------------|--------------------------------------|--------------------------|----------------------------------------------------|-----------------------|------------------------------------|------------------------------------|
| Name                               |  Encumbrances  |  Plot of land   |  Buildings, facilities and improvements  |  Improvements / Additions  |  Plot of land  |  Buildings, facilities and improvements  |  Total      |  Capitalized costs, net  |  Fair value adjustments  |  Fair Value at the end of the year  |  Date of construction  | Date of acquisition |
| Rental properties                  |           |            |                                     |                       |           |                                     |        |                     |                     |     |     |   |
| Operations Center in Argentina (1) |           |            |                                     |                       |           |                                     |        |                     |                     |     |     |   |
| AbastoShopping                     |   -       |   10       |   431                               |   22                  |   10      |   453                               |   463  |   1                 |   6,661             |   7,125  |  Nov-98  | Jul-94 |
| AltoPalermo Shopping               |   -       |   9        |   595                               |   25                  |   9       |   620                               |   629  |   1                 |   6,540             |   7,170  |  Oct-90  | Nov-97 |
| AltoAvellaneda                     |   -       |   18       |   299                               |   39                  |   18      |   338                               |   356  |   -                 |   4,187             |   4,543  |  Oct-95  | Dec-97 |
| AlcortaShopping                    |   -       |   11       |   190                               |   53                  |   11      |   243                               |   254  |   1                 |   3,287             |   3,542  |  Jun-92  | Jun-97 |
| AltoNoa                            |   -       |   -        |   68                                |   21                  |   -       |   89                                |   89   |   -                 |   995               |   1,084  |  Sep-94  | Mar-95 |
| BuenosAires Design                 |   -       |   -        |   64                                |   8                   |   -       |   72                                |   72   |   -                 |   (61)              |   11  |  Nov-93  | Nov-97 |
| PatioBullrich                      |   -       |   10       |   221                               |   23                  |   10      |   244                               |   254  |   -                 |   1,637             |   1,891  |  Sep-88  | Oct-98 |
| AltoRosario                        |   -       |   26       |   138                               |   34                  |   26      |   172                               |   198  |   3                 |   3,177             |   3,378  |  Nov-04  | Nov-04 |
| MendozaPlaza                       |   -       |   11       |   173                               |   32                  |   11      |   205                               |   216  |   5                 |   1,519             |   1,740  |  Jun-94  | Dec-94 |
| DotBaires Shopping                 |   -       |   100      |   322                               |   22                  |   100     |   344                               |   444  |   2                 |   4,169             |   4,615  |  May-09  | Nov-06 |
| CórdobaShopping               |  Antichresis   |   1        |   113                               |   12                  |   1       |   125                               |   126  |   -                 |   986               |   1,112  |  Mar-90  | Dec-06 |
| DistritoArcos                      |   -       |   -        |   -                                 |   295                 |   -       |   295                               |   295  |   -                 |   765               |   1,060  |   - | Nov-09 |
| AltoComahue                        |   -       |   1        |   10                                |   297                 |   1       |   307                               |   308  |   -                 |   564               |   872  |   - | May-06 |
| PatioOlmos                         |   -       |   12       |   21                                |   -                   |   12      |   21                                |   33   |   1                 |   224               |   258  |  May-95  | Sep-07 |
| SoleilPremium Outlet               |   -       |   23       |   56                                |   82                  |   23      |   138                               |   161  |   1                 |   1,315             |   1,477  |   - | Jul-10 |
| Dotbuilding                        |   -       |   13       |   46                                |   10                  |   13      |   56                                |   69   |   1                 |   1,234             |   1,304  |  Sep-10  | Nov-06 |
| Bouchard710                        |   -       |   40       |   20                                |   4                   |   40      |   24                                |   64   |   2                 |   1,815             |   1,881  |   - | Jun-05 |
| Bouchard551                        |   -       |   5        |   3                                 |   -                   |   5       |   3                                 |   8    |   -                 |   89                |   97  |   - | Mar-07 |
| IntercontinentalPlaza              |   -       |   2        |   28                                |   1                   |   2       |   29                                |   31   |   -                 |   111               |   142  |  Jun-96  | Nov-97 |
| BankBostonTower                    |   -       |   78       |   61                                |   -                   |   78      |   61                                |   139  |   1                 |   1,868             |   2,008  |   - | Aug-07 |
| RepúblicaBuilding             |   -       |   111      |   86                                |   1                   |   111     |   87                                |   198  |   1                 |   2,473             |   2,672  |   - | Apr-08 |
| LaAdela                            |   -       |   215      |   -                                 |   -                   |   215     |   -                                 |   215  |   -                 |   218               |   433  |   - | Jul-14 |
| PhillipsBuilding                   |   -       |   -        |   469                               |   -                   |   -       |   469                               |   469  |   -                 |   334               |   803  |   - | Jun-17 |
| Others                             |   -       |   21       |   24                                |   109                 |   21      |   133                               |   154  |   -                 |   1,228             |   1,382  |   N/A  | N/A |

|                            |           |  Initial costs  |  Subsequent costs                        |  Costs at end of the year  |           |                                     |           |                     |                     |
|--------------------------------------|--------------------------|---------------------------|----------------------------------------------------|--------------------------------------|--------------------------|----------------------------------------------------|--------------------------|------------------------------------|------------------------------------|
| Name                                 |  Encumbrances  |  Plot of land   |  Buildings, facilities and improvements  |  Improvements / Additions  |  Plot of land  |  Buildings, facilities and improvements  |  Total         |  Capitalized costs, net  |  Fair value adjustments  |  Fair Value at the end of the year  |  Date of construction  |  Date of acquisition  |
| Operations Center in Israel          |           |            |                                     |                       |           |                                     |           |                     |                     |     |     |     |
| Tivoli(2)                            |   -       |   150      |   1,881                             |   4,864               |   481     |   6,414                             |   6,895   |   -                 |   (1,080)           |   5,815  |  Apr-11  |  Oct-15  |
| KiryatOno Mall (3)                   |   -       |   392      |   731                               |   2,770               |   1,262   |   2,631                             |   3,893   |   -                 |   21                |   3,914  |  Nov-07  |  Oct-15  |
| ShoppingCenter Modi’in A (3)  |  Mortgage      |   223      |   289                               |   1,221               |   718     |   1,015                             |   1,733   |   -                 |   34                |   1,767  |  Aug-05  |  Oct-15  |
| HSBC(2)                              |  Mortgage      |   5,753    |   2,136                             |   16,174              |   18,511  |   5,552                             |   24,063  |   -                 |   1,131             |   25,194  |   1927-1984 |  Oct-15  |
| Matampark - Haifa (3)                |  Mortgage      |   576      |   2,920                             |   8,909               |   1,854   |   10,551                            |   12,405  |   -                 |   417               |   12,822  |   1979-2015 |  Oct-15  |
| Holon(3)                             |   -       |   201      |   152                               |   1,568               |   647     |   1,274                             |   1,921   |   -                 |   4                 |   1,925  |   1960-1985   |  Jan-16  |
| HerzeliyaNorth (3)                   |   -       |   944      |   1,515                             |   6,246               |   3,038   |   5,667                             |   8,705   |   -                 |   298               |   9,003  |   1996-2015 |  Oct-15  |
| Gav-YamCenter - Herzeliya (3)        |  Mortgage      |   748      |   817                               |   3,573               |   2,407   |   2,731                             |   5,138   |   -                 |   38                |   5,176  |   1997-2006 |  Oct-15  |
| NeyarHadera Modi’in (3)       |   -       |   186      |   272                               |   1,216               |   600     |   1,074                             |   1,674   |   -                 |   (9)               |   1,665  |  -  |  Oct-15  |
| Gavyam park - Beer Sheva (3)         |  Mortgage      |   34       |   407                               |   1,838               |   110     |   2,169                             |   2,279   |   -                 |   128               |   2,407  |  -  |  Oct-15  |
| Isproplanet -BeerSheva -Phase 2 (3)  |   -       |   154      |   294                               |   1,834               |   497     |   1,785                             |   2,282   |   -                 |   (191)             |   2,091  |  -  |  Oct-15  |
| Others(3)                            |   -       |   1,557    |   3,717                             |   12,632              |   5,010   |   12,896                            |   17,906  |   -                 |   956               |   18,862  |   N/A |   N/A |
| Total Rental properties              |      |   11,635   |   18,569                            |   63,935              |   35,852  |   58,287                            |   94,139  |   20                |   47,082            |   141,241  |      |      |
| Undeveloped parcels of land          |      |       |                                |                  |      |                                |      |                |                |      |      |      |
| Operations Center in Argentina (1)   |      |       |                                |                  |      |                                |      |                |                |      |      |      |
| Buildingannexed to Dot               |   -       |   25       |   -                                 |   -                   |   25      |   -                                 |   25      |   -                 |   1,074             |   1,099  |   - |  Nov-06  |
| Lujánplot of land               |   -       |   42       |   -                                 |   -                   |   42      |   -                                 |   42      |   -                 |   264               |   306  |   - |  May-12  |
| Caballito– Ferro plot of land |   -       |   46       |   -                                 |   73                  |   46      |   73                                |   119     |   -                 |   256               |   375  |   - |  Nov-97  |
| SantaMaría del Plata            |   -       |   159      |   -                                 |   -                   |   159     |   -                                 |   159     |   -                 |   5,854             |   6,013  |   - |  Jul-97  |
| LaPlata plot of land                 |   -       |   154      |   -                                 |   -                   |   154     |   -                                 |   154     |   -                 |   64                |   218  |   -   |  Mar-18  |
| Others                               |   -       |   12       |   -                                 |   26                  |   12      |   26                                |   38      |   -                 |   515               |   553  |   N/A  |   N/A  |
| Operations Center in Israel          |      |       |                                |                  |      |                                |      |                |                |      |      |      |
| Tivoli(2)                            |   -       |   336      |   -                                 |   337                 |   673     |   -                                 |   673     |   -                 |   (302)             |   371  |  Apr-11  |  Oct-15  |
| Others(3)                            |   -       |   858      |   5                                 |   2,419               |   2,762   |   520                               |   3,282   |   -                 |   391               |   3,673  |   N/A  |  Oct-15  |
| Total undeveloped parcels of land    |      |   1,632    |   5                                 |   2,855               |   3,873   |   619                               |   4,492   |   -                 |   8,116             |   12,608  |      |      |

|                                 |           |  Initial costs  |  Subsequent costs                        |  Costs at end of the year  |           |                                     |            |                               |                     |
|--------------------------------------|--------------------------|---------------------------|----------------------------------------------------|--------------------------------------|--------------------------|----------------------------------------------------|---------------------------|------------------------------------|------------------------------------|
| Name                                 |  Encumbrances  |  Plot of land   |  Buildings, facilities and improvements  |  Improvements / Additions  |  Plot of land  |  Buildings, facilities and improvements  |  Total          |  Capitalized costs, net  |  Fair value adjustments  |  Fair Value at the end of the year  | Date of construction |  Date of acquisition  |
| Properties under development         |           |            |                                     |                       |           |                                     |            |                     |                     |     |   |     |
| Operations Center in Argentina (1)   |           |            |                                     |                       |           |                                     |            |                     |                     |     |   |     |
| PHOffice Park                        |   -       |   31       |   -                                 |   816                 |   31      |   816                               |   847      |   38                |   698               |   1,583  | inprogress |   Nov-06  |
| AltoPalermo Shopping Annex           |   -       |   38       |   -                                 |   32                  |   38      |   32                                |   70       |   -                 |   114               |   184  | inprogress |   Jun-06  |
| AltoComahue                          |   -       |   -        |   -                                 |   120                 |   -       |   120                               |   120      |   -                 |   -                 |   120  | inprogress |   -  |
| CatalinasNorte                       |   -       |   132      |   -                                 |   196                 |   132     |   196                               |   328      |   14                |   1,149             |   1,491  | inprogress |  May-10  |
| Others                               |      |   -        |   -                                 |   112                 |   -       |   112                               |   112      |   -                 |   -                 |   112  |  N/A |    N/A   |
| Operations Center in Israel          |      |       |                                |                  |      |                                |       |                |                |      |   |      |
| Tivoli(2)                            |   -       |   32       |   456                               |   702                 |   103     |   1,087                             |   1,190    |   -                 |   (638)             |   552  | inprogress |  Oct-15  |
| IsproPlanet -Beer Sheva -Phase 2 (3) |   -       |   42       |   44                                |   217                 |   134     |   169                               |   303      |   -                 |   (51)              |   252  | inprogress |  Oct-15  |
| Amottozeret H'aaretz (3)             |   -       |   230      |   118                               |   2,072               |   742     |   1,678                             |   2,420    |   -                 |   357               |   2,777  |  inprogress |   Oct-15   |
| Others(3)                            |   -       |   71       |   49                                |   1,677               |   229     |   1,568                             |   1,797    |   -                 |   9                 |   1,806  | inprogress |  Oct-15  |
| Total properties under development   |      |   576      |   667                               |   5,944               |   1,409   |   5,778                             |   7,187    |   52                |   1,638             |   8,877  |   |      |
| Total                                |      |   13,843   |   19,241                            |   72,734              |   41,134  |   64,684                            |   105,818  |   72                |   56,836            |   162,726  |   |      |