Vukile Property Fund Limited is a high-quality, low-risk, specialist retail real estate investment trust (REIT) with a geographically diversified portfolio of property assets valued at R37 billion, of which 58% is based in Spain. Of the R37bn of total property assets 42% consist of urban, commuter, township and rural malls across South Africa and 58% are held in Spain through the Madrid-listed subsidiary Castellana Properties Socimi. Vukile was listed on the JSE Limited on 24 June 2004 (JSE code: VKE) and on the Namibian stock exchange on 11 July 2007 (NSX code: VKN). On 1 April 2013, we became the first property company to be awarded Real Estate Investment Trust (REIT) status by the JSE Limited. Our 99.6%-held subsidiary, Castellana Property Socimi, is listed on the BME Growth. Despite the challenging macro economic environment, as well as unique local challenges, both the South African portfolio and Castellana continue to deliver stellar results and solid performance metrics. Our strong performance is largely due to our strategically constructed portfolio of handpicked properties, most of which are dominant assets in catchment areas, our specialist asset management skills and strong focus on customer centricity.