2015 was an important year for Kardan Land China. In August, the shopping mall of our, award winning new, large Europark project, Galleria Dalian, opened its doors offering its visitors a meeting place for entertainment, leisure and shopping and connected to a brand new subway. For the full year 2015 therefore, a significant EUR 20.9 mn fair value adjustment could be recognized with respect to the mall. In addition, Building B of the Europark project was sold. Although the façade, core and shell of the building was completed, the entire interior needs to be constructed according to the buyer’s specifications to make it a high quality apartment hotel, and therefore we expect the handover to take place in the fourth quarter 2017. Kardan Land China did, however, receive 50% of the transaction value which it is using to further develop the Europark project. During 2015 we saw an increase in sale contracts for the residential apartments of our joint venture projects. Moreover, significantly more apartments were handed over during 2015 than in the previous year.