Over the past half year, we have again succeeded in attracting distinctive new and existing retailers, such as Love Stories, Repeat Cashmere, Birkenstock and Starbucks. This confirms the attractiveness of our premium city high street shops, which continue to show stable results with an occupancy rate of 99.2%, a value increase of 1.0% and like-for-like gross rent growth of 1.9%. Our focus is and will remain on further expanding this portfolio, whereby we will continue to be critical: acquisitions must show clear upside potential. A good example is the acquisition of the two adjacent high street shops in Le Marais, Paris, which we did last September. Adidas Original and Suite.341 were the tenants at the time. We have recently signed a new contract with Adidas Original for both units and we have realised a rent increase of 55% within a year. After the combination of the two high street shops Adidas Original will open its flagship store in Le Marais. A perfect example of seeing and seizing opportunities, and adding value. In addition, divesting non-strategic property, specially in the Netherlands, will remain a key part of our strategy.

We maintain our forecast for the 2016 direct result of between € 2.30 and € 2.40 per share.

Furthermore, we expect to propose to distribute the same dividend as for 2015, being € 2.05 per
share.