Redefine Properties Limited is a Real Estate Investment Trust (REIT) with a sectoral and geographically diversified property asset platform valued at R99.4 billion (FY24: R99.6 billion). Redefines portfolio is predominately anchored in South Africa through directly held and managed retail, office and industrial properties, which is complemented by a strong presence in retail and logistics property assets in Poland. Redefines purpose to create and manage spaces in a way that transforms lives requires more than a business-as-usual approach: it requires an integrated approach to making strategic choices that will sustain value creation for all stakeholders by putting people and purpose at the heart of what we do and focusing on what matters most by executing on our strategic priorities. Redefine is listed on the Johannesburg Stock Exchange (JSE) with a market capitalisation of R31.7 billion (FY24: R33.6 billion). By volume, Redefines shares are among the most actively traded in the SA REIT sector, making it a highly liquid, single-entry point for investors to gain exposure to the South African and Polish real estate markets. Redefines local property asset platform is valued at R65.4 billion (FY24: R64.7 billion). The offshore real estate investments are valued at R34.0 billion (FY24: R34.9 billion), representing 34.2% (FY24: 35.0%) of the group total property asset platform, which provides geographic diversification through retail, logistics and self-storage property assets in Poland. The marginal decrease in the value of the property asset platform during the period is primarily due to the appreciation of the rand and the disposal of non-core assets offset by the fair value gain of the investment properties of R0.5 billion and the expansion of an additional 10 673m2 of gross lettable area (GLA) at Pan Africa Mall (PAN) for R0.3 billion.