Good morning, everybody, and welcome to Equites Property Fund's interim pre-close presentation. Management obviously very excited to share a few insights as to the first six months of this year with you, leading up to our interim results in October. I trust that you find the presentation interesting and obviously look forward to some of the questions post the presentation. Let's maybe start with the period that's just gone by, and some of the highlights that we'd like to share with you. In terms of our development spend, we've currently spent about ZAR 600 million during the course of the first half of the year on the Tiger Brands development. TFS has just been signed, so bulk earthwork's underway there. DHL in Boksburg, the platforms are being produced as we speak. In Benoni, we bought a meat plant, which Shoprite operates out of and are doing some extensions to that. The final part of the jigsaw for the first half of the year is the Premier FMCG extension at Lords View. The expectation here, obviously, is there's a few more deals coming through the system in there, and also the spends on those particular developments should ramp up during the course of the second half of the year and then into FY 2028. Speculative developments. We obviously have had a measured approach to this and have been releasing some product into the market, and this is also as a consequence of the fact that we've been running almost 0% vacancy in the portfolio for a while and hence were able to deploy some capital into this. On the positive front, the two speculative developments that were completed earlier in this year, have now been let. Technically, not let in the period, as leases are both commencing actually on 1 September. But obviously very pleased that those have been let and let at good rentals and to high-quality tenants as well. Level of activity in the rest of the spec, we'll talk a little bit later on. U.K., obviously the highlight of the period was the sale of the, what we called in South Africa, the Aviva portfolio, and what was branded in the U.K. as the Springboks portfolio. That obviously went in May. The proceeds of those sales we will talk about later. The other positive process that come through the U.K. is the rent review with DHL has finally been agreed and, obviously, that's given quite a bit of uplift to the value of that particular property. We wouldn't be able to leave out our treasury department that obviously, ably led by Laila, and she'll talk about this in a bit more detail later. The activity in the debt capital markets has been fantastic and we seem to have gone and beat our previous record in terms of where we were able to raise, and obviously extremely pleased with that. Laila will also talk about the fact that everything is now migrating to ZARONIA from JIBAR. Operating environment. SA, there's no question that the sector is buoyant. The open market returns for the sector seem to be outperforming everybody again. 10.5% total return for the period. Obviously, performing better than bonds and equities for the period. The return for the next 12 months is probably slightly better than that, at somewhere between 12% and 14%. Vacancy levels, obviously, are very low in the sector. The consequence of which, obviously, is assisting landlords in driving rentals. We are seeing the demand levels, obviously, from supply chain optimization onshoring and e-commerce penetration improving the sector month on month almost. The modern what we would define A grade logistic facilities certainly commanding rentals in the 90s, probably 90 + even. What we're seeing in the Western Cape and in the greater eThekwini area, those rents probably need to be north of ZAR 100, and that's a consequence of a real shortage of land in those two locations. There seems to be a little bit of resistance to breaking that ZAR 100. Developers are obviously very reticent to put anything onto the market unless they're getting those returns. So, it's going to be interesting to see how that plays out in the next year, 18 months, as the demand drivers don't seem to be abating. The level of vacancy, even in maybe some of the lesser product, is at an all-time low and a lot of people are almost going to be stuck between a rock and a hard place. So, that will be very interesting. Johannesburg, greater Johannesburg obviously has got a little bit more supply on the land side, and I think building costs generally, due to just the scale of the operations up there, tend to be slightly cheaper. What we're seeing is that 90 level is certainly sustainable and has been achieved by ourselves and most of our competitors. What is this demand being underpinned by? Obviously, the FMCG guys are looking to improve their operations and consolidate operations into lesser and more efficient and more technologically advanced holdings processes. E-commerce obviously is taking everything to another level and the penetration obviously is growing. These things together with, I suppose a consolidation into ever-evolving technology in the sector, which is enhancing the deliverability of product to an ever more fickle customer base that has expectations of receiving the product that they want to buy in an ever-quicker process, if you like. Oh, sorry, gone on too far there. SA update in terms of what we're doing. Just a bit more detail as to be unpacked from what we showed in the update earlier. Obviously, the 89,000 sq m Tiger Brands facility up in Johannesburg on the R21 at Riverfields, very exciting for us. Progressing extremely well and looking forward to seeing that finished middle of next year and obviously that in the joint venture with the Tridevco team which is a partnership that has worked extremely well for Equites Property Fund and we're very pleased with it. We have recently concluded a lease with TFS on a new 10-year lease. Again, that is on an adjacent piece of land to the Tiger Brands development, also in the Tridevco joint venture. The first of our deals with the broader Takealot team and obviously very excited to be part of that and hope to be able to do a lot more deals with that team in the future. We also finally managed to do our very first deal with DHL in South Africa. We have done several deals with them in the U.K. First deal in South Africa, and this is unpacking a piece of land in Boksburg adjacent to the Colgate manufacturing facility, in which DHL have undertaken a third-party logistics contract with Colgate. We are developing the facility to go there and which DHL, sorry, are letting from us. Really pleased with how we used some pretty good innovation in terms of how to structure a deal with DHL. They were extremely pleased, as we are, and obviously I think in this case, this really is a win-win scenario. We acquired the Benoni meat plant within RLF. This meat plant was owned by Massmart. As part of the Cambridge Food acquisition that Shoprite made a few years ago, they inherited it. The plant has performed exceptionally well for Shoprite. The consequence of which is that they decided to buy it, or they wanted to buy it on the basis that they needed to expand it and improve the technology and manufacturing capability of the facility. We agreed to put that into the RLF joint venture with Shoprite and obviously very pleased with that deal and that expansion is currently underway. We continue to obviously engage with landowners across the three main, I suppose, markets which are Gauteng, eThekwini, and the greater Cape Town area. In Gauteng, obviously, we do have some supply of land, which is fostering the ability for us to continue to deploy capital meaningfully. eThekwini and Cape Town, a little bit more challenging, but notwithstanding that, we continue to engage and we hope to be able to secure a couple of pre-let funding deals on some portions of parcels of land in which we are showing great interest with the landlords. In terms of the pipeline, the Equites process has really always been one to drive pre-lets. We continue to do that, but we have also introduced a measured amount of speculative development into the process. The reason for that, obviously, is we have had the great benefit of running very low vacancy and what we are seeing with very low vacancy across the sector, the level of demand through the building process is significant and we have been quite successful in terms of letting these facilities either during the build or very soon after PC, which obviously has encouraged the investment committee to continue on this path. As we continue to renew leases and have very few vacancies in the historic buildings, and Riaan will talk to that in more detail in his part of the presentation, we are pretty confident with that process for now. Obviously, Tiger Brands and TFS are two new tenants into our portfolio and obviously that is great for us because obviously strong tenants, but also what it does is also diversifies our portfolio away for a little bit from Shoprite. Whilst obviously we are very pleased with the Shoprite deal, obviously the level of concentration in that portfolio as a total of the entire portfolio would want to be managed and mitigated. Riverfields remains, in our opinion, probably the premier logistics node in the country. The level of interest that has been shown in that area, not just for Equites developments, but there are two other counterparts that are developing in that area, and we know and can see from the market intel that we have, that the level of interest that they have got in their product is also very high. I am sure they are also going to do extremely well, as we have done. Pre-lets remain premier speculative is there, as I said, and that really is there to capture sometimes some poor planning in the marketplace. We recently captured a 3PL at one of our speculative developments at Riverfields that was successful in capturing a very substantial third-party logistics contract for a major online retailer, and the consequence of which is that the facility was ready to go and really had no competition in the marketplace, and we were able to achieve a very good market, a rental as well there. Premier FMCG, I reckon, probably talks best to our world around, we have often spoken about repeat business, obviously often being the cheapest and the best business, and I think there is no better example than Premier FMCG. This is the second extension that we have done to their original facility. Obviously to work with a very strong management team, like the Premier FMCG team are, and their success obviously is rubbing off also on us. So really pleased with that. I will not go through all the deal flows there, but obviously a bit of detail for you all. The pleasing thing is that in all of that I would like to share with you as well, is that the construction inflation concern that we had at the beginning of the year, especially after the incursion into Iran by the U.S. and the Israeli forces and the consequential impact on oil prices. The inflationary pressure on construction has been muted. I am not saying there has not been any, but it has been muted. It has been a lot less than we anticipated. So that has been very pleasing from our point of view. U.K. So, as I said earlier, really pleased with the sale of the Aviva portfolio. We realized a net position of about GBP 95 million, and as we announced to the market, I think at year-end in May, we decided to invest a portion of those proceeds into some U.K. REITs, consequence of sort of rather than repatriating the funds and unfortunately not having enough capacity in our debt program to park those funds. We felt that this was the best place to park that money, and I suppose, I would love to claim that we knew that Prologis was prowling for SEGRO. We have been the beneficiaries of being on the right side of that transaction, which obviously is very pleasing. Sometimes, yeah, I suppose you need to be brave to be lucky, I suppose. Anyway, that has been fantastic news. The rent review at DHL has gone well. We were hopefully hoping to do a little bit better than that, but I think at that level, at GBP 9.17, coming off a base of GBP 6, I think has added significant value to that property. We have already started the process of looking to dispose it. There is about 9.5 years left on the lease. I am sure it will garner significant interest. Obviously August in the U.K., not necessarily a good month to be talking to the market as most people are on holiday. We are expecting things to ramp up there from next week and as people start, as kids start going back to school and people start coming back to work. As for the three remaining sites within the historic Newlands partnership, Coton Park, I am really pleased to say is literally on track and September close out of all of that position is basically on track and will happen. So, by the time we come to interims, we will be able to unpack the detail of our position in there and our exit. Thrapston proving a little bit more challenging in terms of the drawdown combination of the Newlands funder taking a maybe a little bit more cautious approach, but also more importantly, I think it is the vendor needing to sort out some internal processes which are occasioning certain costs that they do not want to incur. So, we wait with bated breath to be able to announce a certain date of drawdown on that. The positive thing, obviously, is that the planning has been consented, and the location obviously is an exceptional location, so will, at the appropriate time, garner the interest that it needs. Then the final part of the jigsaw, Basingstoke, I think we spoke that we were negotiating with a user to take up about half of the site. We have signed that agreement with that particular user, and in terms of them committing to the site on the basis of planning, we have resubmitted, or we have not actually finalized the resubmission of that plan should go in. We are expecting it towards the back end of September. Then that process will need to follow its internal process. We are hoping optimistically, we are hoping for something potentially this side of Christmas, but realistically, I think more likely to be a January, February hearing with the committee. What we can attest to, though, is management is fully focused on maximizing shareholder value, and that really is guiding our primary principle of negotiation in terms of the strategy of the unwind in the U.K. So nothing will happen here in terms of us just wanting to leave. We will do it in a sensed and measured way. I am going to hand over to Riaan now, who is going to take you through the operational update and some of the stuff that keeps the existing portfolio ticking over nicely. Thank you, Andrea. On the first slide, I am going to take you through some leasing activity over the past period. On the second slide, we will look at the vacancies as at the end of the period and also over the next 24 months. During the period under review, we signed two renewals. Both of them were in respect of properties located in our Meadowview precinct. They were concluded at a weighted average positive reversion of 3%. As for new tenants, we signed three leases with new tenants. One was TFS, the new development that Andrea talked about in the Riverfields precinct. We had two tenants depart, and we replaced them with high-quality new tenants in the Meadowview precinct. We also had one disposal during the period under review. We disposed of the Digistics Waterfall facility for ZAR 117 million. This slide talks about our vacancies. Firstly, at the end of this period, which is 31 August, we will have four buildings vacant with a total GLA of 93,000 sq m. Sorry, excuse me. The four vacancies with a total GLA of 29,000 sq m. Now, bear in mind, our total portfolio is ZAR 1.5 million, and we have 60 buildings in them, so the vacancy at the end of the period is still well below 2%. Also important to note is that during this period, we signed two further leases in respect of the f our buildings, and as of 1 September, which is next Tuesday, we will only have two vacancies totaling 14,200 sq m. For the rest of FY 2027, we have no leases expiring. Looking forward for FY 2028, we have eight leases expiring with a total GLA of 93,000 sq m. Looking at these eight leases, we have commenced negotiations on several of them, and we expect an average negative reversion of around 9% for these leases. On the right-hand side, we have plotted those reversions, and you can see on the third line, I mean, Gauteng and under, those are buildings that are older buildings, not in secured parks, and they tend to have more negative reversions than those who are located in our park environments. I think in conclusion, it is fair to say that our portfolio continued to perform very well, and I think our strategy of focusing exclusively on building and developing top-end facilities in sought-after locations and secure park is certainly paying off. Over to you, Laila. Thank you, Riaan. Okay, so from a balance sheet management perspective, I think we have done incredibly well over the last six months. At the reporting date, we expect to have ZAR 2.8 billion in cash and undrawn facilities and an ICR of 3.1x, well in excess of our lowest covenant. I think that investors would recall that a while ago, when our development pipeline was significant, this ICR tended to be fairly close to two or mid-2s, and so we really have worked quite hard in terms of reducing our cost of debt and reducing that interest expense, and so we see that benefit coming through in our interest cover ratio improving significantly. Our weighted average debt maturity is 2.9 years, and what we are especially proud of is the continued reduction in the cost of debt, which I will speak through in the next slide. From an interest rate hedging perspective, 87% of our debt is hedged, and we have an interest sensitivity of 27 basis points to every 100 basis points change in the rates. We are relatively shielded in a rising interest rate environment, and I think where we are right now, it seems to be a bit of a rising interest rate environment, or at least the sentiment expresses or seems to express that. Our LTV is forecast to be around 30% at 31 August, following the U.K. disposal in May 2026. We will chat through just a little bridge in the next slide. As Andrea said, the most significant event in the last six months has been the conclusion of the Project Springboks or Aviva portfolio disposal, which was concluded in May. If you just look at the LTV bridge, the impact of that disposal was a reduction in LTV of 10.6%, which is significant. How were those proceeds deployed? There was developments during the period. Tiger Brands, some of the speculative developments, and an acquisition during the period, which was the DHL Boksburg one. Combined, that increased our LTV by 1.3%. When we disposed of the Aviva portfolio, we had the capital allocation decision as to whether we were going to bring it all back to South Africa to repay debt. Unfortunately, we did not have sufficient capacity to do that, and we did leave some of the equity in the U.K. That deployment of equity into the U.K. increased the LTV by 4.3%. We have split out those two lines just so that you can see what the impact was of those two actions discretely. Valuations, there is a small movement in terms of valuation uplift. We have just started getting in those valuations now, and once again, we can see that has a positive impact, and so that we expect to reduce the LTV by about 0.4%. FX, because we have disposed of the Aviva portfolio, the impact on FX is a lot smaller than we have historically experienced it. Also, between 28 February and 31 August, there has not been any dramatic movement in the ZAR. Actually, it has remained reasonably constant. We do not expect there to be a large impact on the LTV as a result of FX. Where we expect our LTV to be is around 29.6% at 31 August. If we look at our cost of debt, our cost of debt is 8.2%, which provides us with an exceptional base in which to compete in very competitive RFPs. This really underpins a lot of our success and how we are able to put forward our best foot in terms of bringing product to market at rates which are still competitive. We have an 87% hedge ratio, as I said earlier, and that means that there is a seven basis point change for every 25 book movement in the base rate or in interest rate movements. Something which we are especially proud of, we had a listed debt auction in June of 2026. We listed a three-year note at ZARONIA + 90 basis points and five-year note at ZARONIA + 103 basis points. ZARONIA is 16 basis points higher than JIBAR, so this replaced the three-year ZAR 300 million note at JIBAR + 129. That is actually a 45 basis point tightening on the new debt, which we think is phenomenal. Our treasury team does an exceptional job at remaining active in the market, as well as placing debt when there are opportune moments. A significant portion of our debt and derivatives, about a third of our book, has already transitioned to ZARONIA. As I said earlier, an ICR of 3.1 x provides us with sufficient headroom to be able to execute quite a significant development pipeline. Just the graph again, we like showing this graph. We have not showed the U.K. cost of debt because it is not relevant anymore, but now we have the SA cost of debt. Again, just to show that despite JIBAR increasing over the last six months, our cost of debt has not increased proportionately due to us renegotiating or refinancing facilities which are rolling off at lower margins. We will give a lot more detail on hedging ratios, on our cost of hedges as well as our cost of debt at interims, but this is just what we can disclose at this point. Handing over to Andrea. Awesome. Thanks, Laila. Just in concluding, I suppose, from an operational point of view, the ESG update. Solar, I think only contributed a very small amount to our numbers during FY 2026. We are expecting that to ramp up in FY 2027, and I think to really start contributing nicely in FY 2028. So we are in the process of installing significant solar and obviously these pretty large developments that we are undertaking at the moment will all come with solar platforms on them, which will obviously benefit the bottom line for Equites. We started, I think we have spoken about this for the last few presentations. The Water Security Stewardship Initiative obviously has been quite important to us. We do not see it as a significant money-making machine. However, what we do see it as is something that affords our clients, our tenants, the ability to carry on operating at times when water sometimes can be switched off, not for hours, but for days. The intention is to continue to try and recycle as much of that water as possible, and ensure that all the non-potable operations at our sites can use recycled water rather than fully fresh and potable water, thereby allowing the potable water to go much further in those facilities. Also, quite nicely, we are starting to see more and more the social impact of our developments in the various communities in which we are delivering these projects. A recent engagement has resulted in a significant level of employment of staff that have got no need for any specific educational or practical skill, and just, I think, needed a metric was the demand. And then over and above that, there was also a demand for bringing in a third party to feed the staff in this particular facility. We were able to introduce a local food kitchen, if you like, from the local community who has won that contract and obviously really pleased for the lady concerned, who will now be feeding 600 mouths every day at this particular facility. So great outcome for all involved. Our community liaison officer obviously doing their work spectacularly and our ability to continue to show the local communities the value that we bring is really a win-win for us all. Then obviously the final part of the jigsaw obviously is as these facilities conclude and need post-construction labor, which is obviously more permanent for the area, these opportunities abound within the local communities around our parks. I think that is about it in terms of what we wanted to share with you today. Obviously, it has been a hell of an exciting six months, the sale of Aviva, the signature of a couple of very strong pre-lets, the signature of some lettings in the speculative builds, and also the renewal of some important leases in our portfolio. As Riaan alluded to, we do not have anything coming up in the second half of the year, but we have got a few coming up during the course of next year. I think already at the October interims, we will be able to speak maybe a bit more detail to that with some of the negotiations that are undergoing there. We are massively optimistic in the shape of our portfolio and what it continues to deliver going forward. That obviously then leads us into our guidance. Obviously, we are really pleased to reaffirm our position. Everything obviously is going as planned. Very few surprises, both in the negative and the positive, and the business keeps on building. Obviously, the coming out of the U.K. and the sale of the portfolio and now the DHL that will probably happen within the next six months or so will result in the amount of property stock that we actually own being reduced and this massive pipeline that we talk to hopefully will bridge that gap within the next sort of 12 to 18 months, and we can then continue to grow from there. In a nutshell, we are confident of landing within our guidance, as stated above and look forward to the rest of the year and actually financial year FY 2028 with great optimism. That is the presentation. I think Laila has got the iPad there with some questions. I see there are a few for us. I think fire away, Laila. Okay, cool. There's been a couple of questions just on can we give some clarity on which U.K. REITs we invested in. Andrea, do you maybe just want to talk? Yeah, I think we invested in the three REITs that were in our sector. That would have been LondonMetric, Tritax Big Box, and SEGRO. There are some questions about what's our position now and I think we'll wait for interims to just give some further disclosure on what those actual positions are. We want to close up reporting, and then we'll be able to report on those. There's a different question just on our geographic split. Moesha was asking, "Which eThekwini nodes are you looking at specifically? Are you going to be buying more land in the area? Is Equites aiming to benefit from the rail network improvements between KZN and Gauteng? Would this be a catalyst? I think we are being introduced to various pockets of land for pre-let developments. I think it would be amiss of me to sort of say which pockets, but what I can say, we are looking at various pockets. Some are obviously more attractive to us than others, but everything will be guided by a process of trying to secure the tenant first. What we've seen is we've seen this joint venture model that we've executed on R21 work extremely successfully for us, where it doesn't burden us with a massive land holding, which obviously occasions various consequential impacts such as the capitalized interest issue and also just having non-income producing sort of property on our balance sheet. We are looking to try and maximize our ability to use those processes where we have the security of knowing we can do a deal on certain land without potentially having to commit inordinate amounts of capital to it. There is a measured approach to it. But it's literally from the new airport all the way up through Paarl, Tyger, New Germany, up past Mariannhill, and all the way up to Cato. That whole node has obviously got several land developers that are bringing significant pieces of land to market. The Western Cape, a bit more challenging. Land parcels are few and far between and they tend to be pretty far from the existing and the desired nodes that have historically always fed the Cape market. We are seeing more and more people sort of being willing to go that bit further with a view to executing those pre-lets. Interesting to see how that will play out in the Cape and obviously in Greater Joburg, the R21 remains a key node for us and we are exploring opportunities in other nodes as we speak. Where we've been very successful is Meadowview. Potential to do a bit more in that node. And potentially also looking further north, sort of around the sort of what they define as the sort of [audio distortion] Centurion area, potentially could provide some opportunity for us as well. But we are very close to a lot of significant tenants that may have certain requirements, and we continue to be driven to locations by the demand metrics of the market. Andrea, Moesha was also asking, are you positioning your balance sheet for a hiking interest rate environment or cutting cycle? What is our expectation? Moesha, we are guided by our treasury policy, which says that we have to hedge at least 80% of our debt that matures in or that's longer than a year. What the FRAs are currently pricing in is probably one rate hike in the calendar year or to the end of the calendar year 2026. And so we see that, but we do look longer term, and so we are looking to just put on the best possible hedges. It has become more expensive. We were chatting yesterday, and historically we could take our protection around 6%. That's now become 7%. But we do look for opportune moments in which we can hedge the rates and not just looking at what's going to happen in the next six months, but looking through the cycle. There are two questions, Riaan, maybe just on the rentals that we've achieved on our spec builds, and if we were pleased with the levels at which we were able to conclude those leases. Yeah, I think we have been very successful with our spec program and the rentals we are looking at in Johannesburg on a property with less than 5% office space is between ZAR 90 and ZAR 95 per sq m. We have seen at that level with the quality of product that we are developing, we have been successful. We have also not flooded the market, so we always make sure that the demand does not suffer from an oversupply. Andrea, there is a question from Anton De Huda who is asking, the Shoprite development seems to be a very high development cost compared to the rest of the Anton, you are very good that you picked that up. Obviously, that is a manufacturing meat plant. It is a meat processing plant and hence comes with an inordinate amount of refrigeration, and other technological aspects to it. The build on it is significant. Yes, whilst we have only got a 10-year lease with Shoprite, it is an integral and important part of their business. They have also acquired significant new machinery and equipment, which they will be installing into the extension that we are currently building. So whilst it is a 10-year lease, it would be highly unlikely for them to be curtailing that business anytime soon. We were comfortable with the reduced period. Obviously Shoprite retain the various options to come on the back of the existing lease, which will secure their tenureship in that building for many, many years to come. The final part of that, obviously we have not done that deal outside of RLF. It was done inside RLF where Shoprite are also material shareholders. That gave us the extra comfort to be able to do that particular deal. So whilst not strictly logistics, it fostered the relationship with Shoprite in a way that obviously will be able to give us distribution growth, meaningful distribution growth over the period of time. Okay, two more questions. Bolero was asking, we previously reported setbacks with the approval of the wastewater treatment plant. When did the final approvals come through? Are there any other infrastructure or municipal approval concerns in our portfolio? Yeah, again, I think municipal approvals are very different from different municipalities. Some municipalities are much better than others. The reality is different developers have different experiences in the same municipality. We have generally been quite fortunate with the City of Ekurhuleni Metropolitan Municipality in Johannesburg, and I think that's also a function of the fact that we are a massive ratepayer of theirs and hence are afforded a certain amount of engagement by the senior management team. What we are bringing to the party has certainly helped. In terms of the wastewater treatment plant, we did get the final approval. Stand to be correct, it was either April or May this year. The plant itself has now been finished. It's actually been completely built, and should start going live with the Shoprite and the TFS building during the course of September. As I said, what it does do is it just affords us the opportunity to not have to use clean potable water in the flushing systems, in the, help me, in the irrigation systems and also in the truck wash systems. Which are a massive portion of the water actually being used in those facilities. The potable water from municipality is still coming through the taps and the showers for the staff, obviously. We have made certain provisions at those facilities to ensure that there is certain storage of that water on site as well to mitigate the risks that are currently being experienced, especially in Gauteng. The focus is to do more of it. We are implementing the second plant in the Tiger Brands and TFS precinct. I think we've already taken some learnings from the first one, which we'll be taking to the second one, which will certainly improve the offering that we'll be giving the client there, too. Questions, because they're the same theme, really. Keelan and Moesha are asking, any potential participation in data centers as the demand has picked up significantly? Yeah, we are not averse to doing deals with data centers. What we've found within the context of the South African market, though, is that the data center operators tend to want to be their own landlords, too. So, where we've approached certain data center owners or landlords which happen to be the operators, too, we have basically been rebuffed. So, we have certainly not been afforded the opportunity to participate in the acquisition of one. And we have not sort of actively engaged to want to develop any of these data centers on our land. There was one instance where we were actively pursued, but on the basis that the data center actually wanted to buy our land. And, as difficult as land is to bring through the system, the one thing we won't be doing is just selling off our land to data centers. We'd rather use it for logistics facilities that will provide us distribution growth over the years to come. However, would we build a data center? Yes, we would, but we would want it on a tenancy basis and not on an ownership basis. Okay. I think that's it. We're out of time, so. Okay. Awesome. Well, everybody, thank you so much for joining us. It is, as ever, a pleasure to be able to give you feedback, and it is always great when there is no drama. It has been a really, really good six months and super optimistic for the next six months. It will be interesting to see, obviously, what happens with the municipal elections in November. Especially the Gauteng area in particular, could see some big shakeup there and hopefully some improved service delivery thereafter. We obviously remain very optimistic for the area. We see the level of demand in especially the Gauteng area on substantial properties. We are actively involved in obviously pursuing as many as we possibly can. On that note, it will be good to see you, I think, the second week of October. We will be presenting our interim results. We look forward to sharing those with you, and with a bit more detail and, I think, a continued manifestation of our optimism.