Environment variable in vs2012 for Qt5

I started to port my existing vs2010/Qt4 projects to vs2012/Qt5 (Qt AddOn is not installed in vs2012)

I am having a strange problem with vs2012 in CustomBuld\General\CommandLine option - it does not recognize command $(QTDIR)\bin\moc.exe. I am getting "The system cannot find the path specified." error
When I replace $(QTDIR) with actual path it works. QTDIR is defined as c:\Libraries\Qt\qt-5\qtbase
So, c:\Libraries\Qt\qt-5\qtbase\bin\moc.exe works, but $(QTDIR)\bin\moc.exe does not.

Then I started to examine the source code and found out that IDE no longer finds Qt includes, like #include <QObject>. "Additional include directories" have $(QTDIR)\include in there. Something is with QTDIR, but I can' figure out what it could be?

What might be the problem?

Well, the problem is solved, sort of. There is no problem with environment variables, rather it is a problem with a file that is apparently created by Qt add-on to visual studio, Qt4VSPropertySheet.props. It contained my variable with the "old" path.