{"id":327,"date":"2024-01-10T07:26:57","date_gmt":"2024-01-10T07:26:57","guid":{"rendered":"https:\/\/lavastone.mu\/annual-report-2023\/?page_id=327"},"modified":"2024-02-05T10:45:39","modified_gmt":"2024-02-05T10:45:39","slug":"performance-report","status":"publish","type":"page","link":"https:\/\/lavastone.mu\/annual-report-2023\/performance-report\/","title":{"rendered":"Performance Report"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"327\" class=\"elementor elementor-327\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-294d474 e-con-full e-flex e-con e-parent\" data-id=\"294d474\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-3e6e0ba e-con-full e-flex e-con e-child\" data-id=\"3e6e0ba\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5b64f89 elementor-widget elementor-widget-heading\" data-id=\"5b64f89\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h5 class=\"elementor-heading-title elementor-size-default\">PRECISION PLAY<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7c0b163 elementor-widget elementor-widget-heading\" data-id=\"7c0b163\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">PERFORMANCE<br>\nREPORT<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b479b72 elementor-widget elementor-widget-text-editor\" data-id=\"b479b72\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Paving the way,<br \/>one move at a time<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b30dca1 elementor-hidden-mobile e-flex e-con-boxed e-con e-parent\" data-id=\"b30dca1\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e0037d5 elementor-widget elementor-widget-html\" data-id=\"e0037d5\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<a class=\"hero-mouse anchor\" href=\"#md-interview\">\r\n  <div class=\"mouse-icon\"><span><\/span><\/div>\r\n<\/a>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e5e34fd e-flex e-con-boxed e-con e-parent\" data-id=\"e5e34fd\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dd7bbc2 elementor-widget elementor-widget-menu-anchor\" data-id=\"dd7bbc2\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\nbody.elementor-page .elementor-widget-menu-anchor{margin-bottom:0}<\/style>\t\t<div class=\"elementor-menu-anchor\" id=\"md-interview\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d296ecc elementor-widget elementor-widget-heading\" data-id=\"d296ecc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">MANAGING DIRECTOR\u2019S<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6ad752b elementor-widget elementor-widget-heading\" data-id=\"6ad752b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">INTERVIEW<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2d53392 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"2d53392\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\n.elementor-widget-divider{--divider-border-style:none;--divider-border-width:1px;--divider-color:#0c0d0e;--divider-icon-size:20px;--divider-element-spacing:10px;--divider-pattern-height:24px;--divider-pattern-size:20px;--divider-pattern-url:none;--divider-pattern-repeat:repeat-x}.elementor-widget-divider .elementor-divider{display:flex}.elementor-widget-divider .elementor-divider__text{font-size:15px;line-height:1;max-width:95%}.elementor-widget-divider .elementor-divider__element{margin:0 var(--divider-element-spacing);flex-shrink:0}.elementor-widget-divider .elementor-icon{font-size:var(--divider-icon-size)}.elementor-widget-divider .elementor-divider-separator{display:flex;margin:0;direction:ltr}.elementor-widget-divider--view-line_icon .elementor-divider-separator,.elementor-widget-divider--view-line_text 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.elementor-divider__element{margin-inline-end:0}.elementor-widget-divider:not(.elementor-widget-divider--view-line_text):not(.elementor-widget-divider--view-line_icon) .elementor-divider-separator{border-block-start:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--separator-type-pattern{--divider-border-style:none}.elementor-widget-divider--separator-type-pattern.elementor-widget-divider--view-line .elementor-divider-separator,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:after,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:before,.elementor-widget-divider--separator-type-pattern:not([class*=elementor-widget-divider--view]) .elementor-divider-separator{width:100%;min-height:var(--divider-pattern-height);-webkit-mask-size:var(--divider-pattern-size) 100%;mask-size:var(--divider-pattern-size) 100%;-webkit-mask-repeat:var(--divider-pattern-repeat);mask-repeat:var(--divider-pattern-repeat);background-color:var(--divider-color);-webkit-mask-image:var(--divider-pattern-url);mask-image:var(--divider-pattern-url)}.elementor-widget-divider--no-spacing{--divider-pattern-size:auto}.elementor-widget-divider--bg-round{--divider-pattern-repeat:round}.rtl .elementor-widget-divider .elementor-divider__text{direction:rtl}.e-con-inner>.elementor-widget-divider,.e-con>.elementor-widget-divider{width:var(--container-widget-width,100%);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-848feba e-flex e-con-boxed e-con e-parent\" data-id=\"848feba\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-d94868d e-con-full e-flex e-con e-child\" data-id=\"d94868d\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;],&quot;sticky_offset&quot;:200,&quot;sticky_parent&quot;:&quot;yes&quot;,&quot;sticky_effects_offset&quot;:0}\">\n\t\t<div class=\"elementor-element elementor-element-e6a3c5e e-flex e-con-boxed e-con e-child\" data-id=\"e6a3c5e\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3dd82cc elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"3dd82cc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\tWe acquired quality tenants, improved our occupancy rate to 97%, <span style=\"color: #718567;\">and maintained a low gearing level, indicating Lavastone Properties\u2019 resilient\nfinancial and operational standing.<\/span>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0dbd750 elementor-widget elementor-widget-image\" data-id=\"0dbd750\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"378\" height=\"639\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/managing_dir_interview.webp\" class=\"attachment-large size-large wp-image-336\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/managing_dir_interview.webp 378w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/managing_dir_interview-177x300.webp 177w\" sizes=\"(max-width: 378px) 100vw, 378px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-aff3f7e e-con-full e-flex e-con e-child\" data-id=\"aff3f7e\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a8a7c34 elementor-widget elementor-widget-text-editor\" data-id=\"a8a7c34\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Dear Stakeholders,<br \/><br \/>Considering the challenging market conditions that prevailed throughout the year, FY 2023 was a satisfactory year for Lavastone Properties. Turnover for ongoing operations increased by a commendable 6.4% and operating profit by 4.3%, driven mainly by the rental income derived from Absa House and the onboarding of quality tenants at EDITH. In spite of escalating finance costs and increases in administrative costs, we acquired quality tenants, improved our occupancy rate to 97%, and maintained a low gearing level, indicating Lavastone\u2019s resilient financial and operational standing. <\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-85742a3 elementor-widget elementor-widget-heading\" data-id=\"85742a3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Opening gambit: making the right move, at the right time<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-66b4bc9 elementor-widget elementor-widget-text-editor\" data-id=\"66b4bc9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In last year\u2019s report, I forewarned of high interest rates and their potential impact on Lavastone Properties\u2019 finance costs. True to these expectations, 2023 unfolded as a challenging year, with interest rates undergoing successive hikes during the first quarter of FY 2023, in a quest to stabilise inflation. The nature of our business requires the use of a mix of equity and borrowings to finance our development projects and future acquisitions, which invariably exposes us to volatility in interest rates. This translated into an additional Rs 26.9m in finance costs in FY 2023 compared to the previous year.<\/p><p>Anticipating a prolonged period of high interest rates, we renegotiated an extension to our bond terms with the Mauritius Commercial Bank (MCB) and made the decision to draw down the final Rs 550m available to us at a fixed interest rate, despite not having an immediate avenue for the funds. While part of the funds were promptly allocated to finance the Mourouk hotel, the surplus was temporarily placed in shortterm deposits to cover our interest costs, before being deployed towards acquisitive opportunities that are expected to generate additional profit during FY 2024.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ef90105 elementor-widget elementor-widget-heading\" data-id=\"ef90105\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Streamlining our moves: operational\nhighlights<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e9bf8c0 elementor-widget elementor-widget-text-editor\" data-id=\"e9bf8c0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The cyclical nature of the industry requires a property investment company to continuously adjust its strategy and remain nimble in the face of changing circumstances. In pursuit of a high-yielding portfolio, adaptability is key: we carefully reevaluate our projects and acquisitions, retract decisions that no longer hold our strategic interest, and shift our focus to more advantageous positions. During the year, our efforts were centred on diversifying our portfolio, optimising the yielding potential of our properties and achieving operational excellence:<\/p><p>\u2022 Recognising our exposure to the office segment following the sale of our warehouses in Riche Terre, we recently completed the negotiations for the acquisition of fully tenanted industrial properties. We have sufficient capital, through the bond drawdown, to deploy towards these yielding investments and we expect this to result result in a more balanced portfolio in terms of asset class.<\/p><p>\u2022 As expected, the acquisition of Absa House has solidified our presence both in a new geography, \u00c9b\u00e8ne, and in the office segment. Following the refurbishment of two vacant floors in the building to attract high-calibre tenants, we were pleased to see that both floors found new occupants, which is extremely encouraging for us given the acute competition in the office segment in \u00c9b\u00e8ne, and the high expectations of tenants when it comes to their office environment.<\/p><p>\u2022 We onboarded new tenants at EDITH, which is now home to local retail stores, well-known F&amp;B brands and House of Digital Art, a contemporary cultural venue dedicated to the digital arts. Our efforts to upgrade the retail, dining and entertainment experience at EDITH have delivered an increase in footfall and trading density. In my view, our historic city centre is every bit as vibrant as other business hubs on the island, particularly with the added accessibility and convenience brought by the Metro Express. Port Louis has much to offer in terms of cultural events, artworks, leisure leisure spaces, and an eclectic mix of dining options. Effective communiation on these strengths, coupled with close collaboration among all players in the capital, is paramount for repositioning our capital as the place to be.<\/p><p>\u2022 All our properties were tenanted during the year, achieving an average 97% occupancy rate. Equally, 28 contracts were renewed and our rental collections stood at 98%. These metrics attest to the quality of our assets, the strong relationships we have built with our tenants, and our continuous investments in operational excellence and customer retention strategies.<\/p><p>\u2022 The opening of the Mourouk hotel was delayed by a few months due to logistical and labour challenges, which are to be expected when operating in a remote location such as Rodrigues. (More information in our case study on page 50). However, at the time of writing this message, the resort successfully opened its doors on 01 November 2023. The hotel\u2019s ideal location in one of the world\u2019s premier kitesurfing spots, its strong value proposition rooted in authenticity and sustainability, and our collaboration with a trusted and experienced hotel operator position the hotel for a promising performance.<\/p><p>\u2022 Our land conversion plans are on track, with 100% of the plots at Case Noyale already transferred at the time of writing, enabling us to recognise Rs 36.5m for the sale of land in FY 2023. A masterplan was finalised for the sustainable development of the remaining land, echoing our commitment to environmental stewardship.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f7d92c9 elementor-widget elementor-widget-heading\" data-id=\"f7d92c9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Checkmate for impact:\nEnvironmental and social\nperformance<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9ef1738 elementor-widget elementor-widget-text-editor\" data-id=\"9ef1738\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Decarbonisation stands as one of Lavastone Properties\u2019 foremost priorities for achieving more financially and environmentally sustainable operations, two concepts we view as inseparable. This past year, we partnered with WillChange to go further in establishing a strategy to reduce our carbon footprint by tackling Scope 3 emissions. Due to the complexity and volume of data required for this endeavour, its success hinges on the full commitment and active involvement of our tenants. We are thrilled at their positive response and sincere enthusiasm to participate in our environmental-driven and community-driven actions.<\/p><p>Building on EDITH\u2019s LEED Gold certification in 2022, a groundbreaking recognition as the first mixed-use building of its kind in Africa, we are now engaging closely with other tenants in pursuit of the LEED certification for other key assets. A gap analysis was carried out within key buildings to take stock of their current energy and sustainability performance, and a clear roadmap has been outlined towards attaining the desired LEED certification with the collaboration of our tenants. <\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d765ddb elementor-widget elementor-widget-heading\" data-id=\"d765ddb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Game of talent: Valorising Lavastone Properties\u2019 employees <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ba134d4 elementor-widget elementor-widget-text-editor\" data-id=\"ba134d4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Our employees form the bedrock of our organisation. It is therefore important that we offer a work environment that values, rewards and empowers them. To achieve this, we facilitate opportunities for formal and informal discussions, providing constructive feedback through various channels to ensure we remain fully attuned to their needs.<\/p><p>We also invest a considerable amount in training our staff in technical and soft skills to equip them with the competencies they need to excel in their roles and contribute to our long-term objectives. In FY 2023, we expanded our training initiatives to also include sessions on the calculation of our carbon footprint. This not only enhances our employees\u2019 knowledge of the subject, obtaining their buy-in for our environmental goals, but also helps us build a dynamic and skilled team dedicated to sustainability and innovation.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bc3a3f4 elementor-widget elementor-widget-heading\" data-id=\"bc3a3f4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Endgame strategy: Closing remarks and appreciation<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a2af57a elementor-widget elementor-widget-text-editor\" data-id=\"a2af57a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>As Lavastone Properties embarks on a new financial year, we do so equipped with a strong tenant pipeline, good liquidity, a well-balanced portfolio and the right teams in place to drive our growth plans. Our immediate priority is to deliver on the following strategic imperatives:<\/p><p>\u2022 Close on the acquisitions in the warehousing\/industrial building space and seek out quality tenants to fill the vacant spaces across our portfolio.<\/p><p>\u2022 Continue to renovate and fit out our tenanted spaces in line with their business needs.<\/p><p>\u2022 Launch the construction of a new commercial development in Case Noyale, contingent upon securing the necessary approvals and permits.<\/p><p>\u2022 Pursue digitalisation and process improvements to generate more efficiencies, maintain high occupancy rates and customer satisfaction levels, and unlock the full yielding potential of our properties.<\/p><p>\u2022 Pursue the LEED certifications for other key assets with the collaboration of our tenants and make measurable progress in our carbon-reduction plans.<\/p><p>\u2022 Explore innovative ways to leverage our expertise in asset management, property management and facilities management, designed to diversify our revenue sources and lower our finance costs.<\/p><p>I would like to end my message by bidding farewell and extending a heartfelt thank you to our longstanding team member, Fran\u00e7ois Audibert, who is parting with the Group after 13 years of service. Fran\u00e7ois was responsible for the day-to-day operations of Lavastone Properties and led several development projects that have contributed enormously to our growth over the last five years. Fran\u00e7ois is now ripe to take on new challenges as the Head of Aqualia. On behalf of the entire Lavastone Properties family, I would like to thank him for his dedication and efforts, and convey our best wishes for a prosperous career ahead.<\/p><p>With Fran\u00e7ois\u2019 departure, a window of opportunity for organic growth and career advancement has opened up for colleagues who have been diligently prepared to step into more significant roles. We strongly advocate for internal mobility as a means to promote talent from within and build a more skilled team.<\/p><p>Thank you to all our stakeholders &#8211; our shareholders, tenants, partners, suppliers, contractors, consultants and customers &#8211; who continue to place their trust in Lavastone Properties.<\/p><p>I would also like to express my gratitude to our Board members for their valuable insights and counsel, and to our Chairman, Colin Taylor, for his unwavering guidance and support.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-39e8c2e elementor-widget elementor-widget-image\" data-id=\"39e8c2e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"78\" height=\"51\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/nicolas_sig.png\" class=\"attachment-large size-large wp-image-344\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b33d2b elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"2b33d2b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Nicolas Vaudin<br \/><span style=\"color: #718567;\">Managing Director<\/span><\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-34f15dc e-flex e-con-boxed e-con e-parent\" data-id=\"34f15dc\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-181076f elementor-widget elementor-widget-menu-anchor\" data-id=\"181076f\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"performance-review\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f0c409b elementor-widget elementor-widget-heading\" data-id=\"f0c409b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">PERFORMANCE<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ce8716 elementor-widget elementor-widget-heading\" data-id=\"5ce8716\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">REVIEW<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b0ac1a3 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"b0ac1a3\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-82fd287 e-flex e-con-boxed e-con e-parent\" data-id=\"82fd287\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a955782 elementor-widget elementor-widget-menu-anchor\" data-id=\"a955782\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"financial-capital\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2683b9a e-flex e-con-boxed e-con e-child\" data-id=\"2683b9a\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7dfa13b elementor-widget elementor-widget-heading\" data-id=\"7dfa13b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">FINANCIAL CAPITAL<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-016aceb e-con-full e-flex e-con e-child\" data-id=\"016aceb\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7ee5f00 elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"7ee5f00\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\n.elementor-widget-image-box .elementor-image-box-content{width:100%}@media (min-width:768px){.elementor-widget-image-box.elementor-position-left .elementor-image-box-wrapper,.elementor-widget-image-box.elementor-position-right .elementor-image-box-wrapper{display:flex}.elementor-widget-image-box.elementor-position-right .elementor-image-box-wrapper{text-align:end;flex-direction:row-reverse}.elementor-widget-image-box.elementor-position-left .elementor-image-box-wrapper{text-align:start;flex-direction:row}.elementor-widget-image-box.elementor-position-top .elementor-image-box-img{margin:auto}.elementor-widget-image-box.elementor-vertical-align-top .elementor-image-box-wrapper{align-items:flex-start}.elementor-widget-image-box.elementor-vertical-align-middle .elementor-image-box-wrapper{align-items:center}.elementor-widget-image-box.elementor-vertical-align-bottom .elementor-image-box-wrapper{align-items:flex-end}}@media (max-width:767px){.elementor-widget-image-box .elementor-image-box-img{margin-left:auto!important;margin-right:auto!important;margin-bottom:15px}}.elementor-widget-image-box .elementor-image-box-img{display:inline-block}.elementor-widget-image-box .elementor-image-box-title a{color:inherit}.elementor-widget-image-box .elementor-image-box-wrapper{text-align:center}.elementor-widget-image-box .elementor-image-box-description{margin:0}<\/style><div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img decoding=\"async\" width=\"600\" height=\"356\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/Finance_cap@2x.webp\" class=\"attachment-full size-full wp-image-353\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/Finance_cap@2x.webp 600w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/Finance_cap@2x-300x178.webp 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">We carefully consider our investment decisions and employ our financial resources with discipline to enhance our revenue generation opportunities, while maximising shareholder returns<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0788547 e-con-full e-flex e-con e-child\" data-id=\"0788547\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-d4a7b59 e-con-full e-flex e-con e-child\" data-id=\"d4a7b59\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-89a8e3e elementor-widget elementor-widget-heading\" data-id=\"89a8e3e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUR KEY INPUTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9bd0b17 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"9bd0b17\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/plugins\/elementor\/assets\/css\/widget-icon-list.min.css\">\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Rs 550m<\/lbg> Final drawdown of bond facility from Rs 900m, intended to finance development projects and future acquisitions<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Negotiations for three acquisitions in the pipeline<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-25ad3a5 e-con-full e-flex e-con e-child\" data-id=\"25ad3a5\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-29fc68d elementor-widget elementor-widget-heading\" data-id=\"29fc68d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">PERFORMANCE HIGHLIGHTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-483e92d elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"483e92d\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Concluded negotiations of acquisitive opportunities intended to rebalance our asset portfolio<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Leased out vacant floors at Absa House following extensive refurbishments, to reach <lbg>92% <\/lbg>occupancy at September 2023 and full occupancy by second quarter of FY 2024<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Secured three new contracts to provide Facility Management and Property Management services to third parties<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a8f2dc7 e-flex e-con-boxed e-con e-child\" data-id=\"a8f2dc7\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ab08ad8 elementor-widget elementor-widget-heading\" data-id=\"ab08ad8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2024 PRIORITIES<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d5a1516 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"d5a1516\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Continue improving rental collection to above <lbg>98%<\/lbg><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Monitor and mitigate finance costs in light of high interest rates<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Monitor and control administrative and operating costs to remain at <lbg>40%<\/lbg> of revenue<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Achieve revenue growth of more than <lbg>15%<\/lbg><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Close on the acquisitive opportunities by the end of <lbg>Q2 FY 2024<\/lbg><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0c3e898 e-con-full e-flex e-con e-child\" data-id=\"0c3e898\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c59186c elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"c59186c\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/pr_icon1@2x.png\" class=\"attachment-full size-full wp-image-388\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">OUTPUTS AND VALUE CREATED<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c8d7118 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"c8d7118\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Rs 1,089M<\/lbg> Market Capitalisation<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Rs 306M<\/lbg> Revenue (excluding sale of land)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Rs 152M <\/lbg>Profit before tax (excluding revaluation gains)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Rs 4.18<\/lbg> NAV per share<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>33%<\/lbg> Gearing ratio<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Rs 0.07<\/lbg> Dividends paid per share<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Rs 0.32<\/lbg> Profit per share<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>98%<\/lbg> Rental collection (includes collection of rental arrears)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>91%<\/lbg> Deeds of Sale completed for Morcellement Acacia in LaGaulette (100% by December 2023)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d66e0d elementor-widget elementor-widget-image\" data-id=\"9d66e0d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"46\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/excellence@2x.png\" class=\"attachment-large size-large wp-image-282\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-134c01a elementor-widget elementor-widget-image\" data-id=\"134c01a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"53\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/134@2x.png\" class=\"attachment-large size-large wp-image-284\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-043853c e-flex e-con-boxed e-con e-child\" data-id=\"043853c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-006fcff elementor-widget elementor-widget-heading\" data-id=\"006fcff\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Strategic objectives<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f37b72a e-flex e-con-boxed e-con e-child\" data-id=\"f37b72a\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8ba18c6 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"8ba18c6\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"46\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/excellence@2x.png\" class=\"attachment-full size-full wp-image-282\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Operational excellence<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-96cce8a elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"96cce8a\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"48\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/andren@2x.png\" class=\"attachment-full size-full wp-image-281\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Customer service and retention<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9f26470 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"9f26470\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/env_icon@2x.png\" class=\"attachment-full size-full wp-image-283\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Sustainability<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-154dce3 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"154dce3\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"53\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/134@2x.png\" class=\"attachment-full size-full wp-image-284\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Maximise shareholder value<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c8c3be8 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"c8c3be8\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"45\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/24@2x.png\" class=\"attachment-full size-full wp-image-285\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Employee engagement<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2d93bee e-flex e-con-boxed e-con e-parent\" data-id=\"2d93bee\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-1e81343 e-flex e-con-boxed e-con e-child\" data-id=\"1e81343\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5bd8096 elementor-widget elementor-widget-menu-anchor\" data-id=\"5bd8096\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"manufactured-capital\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5596ecc elementor-widget elementor-widget-heading\" data-id=\"5596ecc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">MANUFACTURED CAPITAL<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-afed4bc e-con-full e-flex e-con e-child\" data-id=\"afed4bc\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8f413ee elementor-position-right elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"8f413ee\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"608\" height=\"357\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/man_cap@2x.webp\" class=\"attachment-full size-full wp-image-397\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/man_cap@2x.webp 608w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/man_cap@2x-300x176.webp 300w\" sizes=\"(max-width: 608px) 100vw, 608px\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">We have a diversified portfolio of commercial properties across Mauritius and Rodrigues. Our goal is to continuously optimise our portfolio across asset classes and geographies to maximise our returns and balance our risks<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-84f4454 e-con-full e-flex e-con e-child\" data-id=\"84f4454\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-284d244 e-con-full e-flex e-con e-child\" data-id=\"284d244\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7d12bfa elementor-widget elementor-widget-heading\" data-id=\"7d12bfa\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUR KEY INPUTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f017214 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"f017214\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>21,532 m2<\/lbg> office space<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>7,969 m2<\/lbg> industrial space<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>4,655 m2<\/lbg> retail space<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>6,714 m2<\/lbg> hotel space<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>4,830 m2<\/lbg> project under development in Rodrigues for the Mourouk hotel<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-25dbb15 e-con-full e-flex e-con e-child\" data-id=\"25dbb15\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b21448c elementor-widget elementor-widget-heading\" data-id=\"b21448c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">PERFORMANCE HIGHLIGHTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-052fb52 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"052fb52\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Finalised masterplan for South West Safari Group<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Submitted Environmental Impact Assessment (EIA) for the next morcellement at Case Noyale<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Obtained clearance from the Ministry of Agriculture, along with the Outline Planning Permit, for the masterplan at La Gaulette\/Case Noyale<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Replaced the AC system on fifth floor of Absa House with a more efficient mini Variable Refrigerant Volume (VRV) system, designed to match a building\u2019s precise requirements<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Completed the revamping of EDITH terraces<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Renovated and leased the 6th floor of Absa House<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Completed 80% of the refurbishment of the 5th floor at Absa House, targeting completion at the end of December 2023<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Tenant fit-out coordination for 11 tenants at EDITH<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Resolved Montebello water issue by implementing a new water network<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Transformed La Galerie du G\u00e9nie at EDITH into an immersive art experience with House of Digital Art<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a6a7b82 e-flex e-con-boxed e-con e-child\" data-id=\"a6a7b82\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a951081 elementor-widget elementor-widget-heading\" data-id=\"a951081\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2024 PRIORITIES<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d845e5a elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"d845e5a\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Obtain necessary permits<\/lbg> to launch the next projects at Case Noyale (morcellement and commercial)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Open PLAY Mourouk Hotel by November 2023<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Renovate ground floor at Les Cascades Building to accommodate new tenants<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Refurbish 5th floor of Absa House by Q1 FY 2024<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-265ceea e-con-full e-flex e-con e-child\" data-id=\"265ceea\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7d8ec10 elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"7d8ec10\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/pr_icon1@2x.png\" class=\"attachment-full size-full wp-image-388\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">OUTPUTS AND VALUE CREATED<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ca1bc32 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"ca1bc32\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Rs 4.1Bn<\/lbg> Property Assets<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Rs 4.9Bn<\/lbg> Total Assets<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>97%<\/lbg> Average occupancy rate across all properties<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c6e4a2e elementor-widget elementor-widget-image\" data-id=\"c6e4a2e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"46\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/excellence@2x.png\" class=\"attachment-large size-large wp-image-282\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-09d52dd elementor-widget elementor-widget-image\" data-id=\"09d52dd\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"48\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/andren@2x.png\" class=\"attachment-large size-large wp-image-281\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b22ea4 elementor-widget elementor-widget-image\" data-id=\"2b22ea4\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"53\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/134@2x.png\" class=\"attachment-large size-large wp-image-284\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-85cec4d e-flex e-con-boxed e-con e-child\" data-id=\"85cec4d\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b107643 elementor-widget elementor-widget-heading\" data-id=\"b107643\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Strategic objectives<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7e27589 e-flex e-con-boxed e-con e-child\" data-id=\"7e27589\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8387869 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"8387869\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"46\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/excellence@2x.png\" class=\"attachment-full size-full wp-image-282\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Operational excellence<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a96ad0a elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"a96ad0a\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"48\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/andren@2x.png\" class=\"attachment-full size-full wp-image-281\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Customer service and retention<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e6c4af9 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"e6c4af9\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/env_icon@2x.png\" class=\"attachment-full size-full wp-image-283\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Sustainability<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-622ba65 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"622ba65\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"53\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/134@2x.png\" class=\"attachment-full size-full wp-image-284\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Maximise shareholder value<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8196060 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"8196060\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"45\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/24@2x.png\" class=\"attachment-full size-full wp-image-285\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Employee engagement<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3097222 e-flex e-con-boxed e-con e-parent\" data-id=\"3097222\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-b9c3b56 e-flex e-con-boxed e-con e-child\" data-id=\"b9c3b56\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-02e7400 elementor-widget elementor-widget-menu-anchor\" data-id=\"02e7400\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"intellectual-capital\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ff63e6e elementor-widget elementor-widget-heading\" data-id=\"ff63e6e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">INTELLECTUAL CAPITAL<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a052efc e-con-full e-flex e-con e-child\" data-id=\"a052efc\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cb8b352 elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"cb8b352\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"601\" height=\"357\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/int_cap@2x.webp\" class=\"attachment-full size-full wp-image-419\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/int_cap@2x.webp 601w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/int_cap@2x-300x178.webp 300w\" sizes=\"(max-width: 601px) 100vw, 601px\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">We invest in the latest technologies, new systems, and future-proof capabilities to meet our customers\u2019 needs and enhance the efficiency of our operations<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-bd808ba e-con-full e-flex e-con e-child\" data-id=\"bd808ba\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-60d6c82 e-con-full e-flex e-con e-child\" data-id=\"60d6c82\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-098311a elementor-widget elementor-widget-heading\" data-id=\"098311a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUR KEY INPUTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f9f5f52 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"f9f5f52\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Investment in automatic billing system<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Monthly data collection at EDITH<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Identification, negotiations, and due diligence for acquisitive opportunities<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Treasury management<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1483a5c e-con-full e-flex e-con e-child\" data-id=\"1483a5c\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ed6ea60 elementor-widget elementor-widget-heading\" data-id=\"ed6ea60\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">PERFORMANCE HIGHLIGHTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-155713d elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"155713d\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Implemented an automatic billing platform (Skybill)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Reduced utilities consumption<\/lbg> across all properties<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Used Artificial Intelligence (AI) for Business Process and Facility & Building Management<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Maintained Grade A credit rating<\/lbg> from CARE Ratings Africa<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Maintained LEED certification at EDITH<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Identified & completed negotiations<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7ebaf70 e-flex e-con-boxed e-con e-child\" data-id=\"7ebaf70\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2b6b928 elementor-widget elementor-widget-heading\" data-id=\"2b6b928\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2024 PRIORITIES<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bcea1bd elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"bcea1bd\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Improve profitability by at least 5<\/lbg>% through operational excellence<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Maintain Grade A rating from CARE Ratings Africa<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Automate Procure to Pay process<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Reduce vacancy rate across the portfolio<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Initiate LEED certification<\/lbg> at other key property assets<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Implement a Facility & Asset Management software<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Maintain client retention rate at <lbg>above 95%<\/lbg><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Manage the development of new warehouse for Rotoby Properties at Riche Terre for completion by Q3 FY 2024<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-60d439e e-con-full e-flex e-con e-child\" data-id=\"60d439e\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d1ffea1 elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"d1ffea1\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/pr_icon1@2x.png\" class=\"attachment-full size-full wp-image-388\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">OUTPUTS AND VALUE CREATED<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-91a43e4 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"91a43e4\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>6.71<\/lbg> years Weighted Average Lease Expiry (WALE)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Grade A<\/lbg> stable rating from CARE Ratings Africa reaffirmed for MCB Bond and <lbg>CARE rating A-<\/lbg> for Absa loan reaffirmed<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>87 clients retained<\/lbg> (out of 137)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>22 new tenants<\/lbg> onboarded over <lbg>2,513 m2<\/lbg> of space across the portfolio<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>3%<\/lbg> Vacancy rate<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-76cdf46 elementor-widget elementor-widget-image\" data-id=\"76cdf46\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"46\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/excellence@2x.png\" class=\"attachment-large size-large wp-image-282\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7660bce elementor-widget elementor-widget-image\" data-id=\"7660bce\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"48\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/andren@2x.png\" class=\"attachment-large size-large wp-image-281\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d58d37 elementor-widget elementor-widget-image\" data-id=\"5d58d37\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"53\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/134@2x.png\" class=\"attachment-large size-large wp-image-284\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-08e06e9 elementor-widget elementor-widget-image\" data-id=\"08e06e9\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"45\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/24@2x.png\" class=\"attachment-large size-large wp-image-285\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-892d334 e-flex e-con-boxed e-con e-child\" data-id=\"892d334\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7f1acd5 elementor-widget elementor-widget-heading\" data-id=\"7f1acd5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Strategic objectives<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-22805fa e-flex e-con-boxed e-con e-child\" data-id=\"22805fa\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-130e649 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"130e649\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"46\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/excellence@2x.png\" class=\"attachment-full size-full wp-image-282\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Operational excellence<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7dcb909 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"7dcb909\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"48\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/andren@2x.png\" class=\"attachment-full size-full wp-image-281\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Customer service and retention<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-395884a elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"395884a\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/env_icon@2x.png\" class=\"attachment-full size-full wp-image-283\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Sustainability<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-65cace4 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"65cace4\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"53\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/134@2x.png\" class=\"attachment-full size-full wp-image-284\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Maximise shareholder value<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ad8dede elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"ad8dede\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"45\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/24@2x.png\" class=\"attachment-full size-full wp-image-285\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Employee engagement<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-59be4be e-flex e-con-boxed e-con e-parent\" data-id=\"59be4be\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-9aa1741 e-flex e-con-boxed e-con e-child\" data-id=\"9aa1741\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0b4b424 elementor-widget elementor-widget-menu-anchor\" data-id=\"0b4b424\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"natural-capital\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e47073b elementor-widget elementor-widget-heading\" data-id=\"e47073b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">NATURAL CAPITAL<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6df4042 e-con-full e-flex e-con e-child\" data-id=\"6df4042\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ac1c8c4 elementor-position-right elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"ac1c8c4\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"604\" height=\"357\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/natg_cap@2x.webp\" class=\"attachment-full size-full wp-image-428\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/natg_cap@2x.webp 604w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/natg_cap@2x-300x177.webp 300w\" sizes=\"(max-width: 604px) 100vw, 604px\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">We are committed to reducing our carbon footprint through the judicious use of natural resources, energy-efficient systems and measures, and circular economy solutions, all aimed at mitigating the effects of climate change<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f696d66 e-con-full e-flex e-con e-child\" data-id=\"f696d66\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-d17c7b1 e-con-full e-flex e-con e-child\" data-id=\"d17c7b1\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-83bd2d4 elementor-widget elementor-widget-heading\" data-id=\"83bd2d4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUR KEY INPUTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36bd02c elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"36bd02c\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>1,374 Arpents of bare land<\/lbg> with approximately <lbg>50 arpents<\/lbg> at Case Noyale available for development opportunities<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Ongoing partnerships with NGOs for recycling and waste management<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Development of our assets in line with LEED principles<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b487b80 e-con-full e-flex e-con e-child\" data-id=\"b487b80\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e62282c elementor-widget elementor-widget-heading\" data-id=\"e62282c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">PERFORMANCE HIGHLIGHTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b7511fc elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"b7511fc\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Appointed WillChange for the <lbg>calculation of Lavastone Properties\u2019 carbon footprint<\/lbg> and for assistance with the development of a <lbg>carbon-reduction strategy<\/lbg> that aligns with the Group\u2019s overarching strategy<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Completed the <lbg>installation of PV-powered chargers<\/lbg> for electric vehicles at ASAS Parking<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Pursued <lbg>waste recycling processes,<\/lbg> leading to the production and distribution of pencils made from recycled annual reports<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Exploring PV potential for our assets<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Reused construction materials for refurbishment projects intelligently<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-30cc06c e-flex e-con-boxed e-con e-child\" data-id=\"30cc06c\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5032d7a elementor-widget elementor-widget-heading\" data-id=\"5032d7a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2024 PRIORITIES<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6ad3c41 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"6ad3c41\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Refine Scope 3 investigations<\/lbg> and reduction, namely employee commuting, waste management, and upstream and downstream emissions<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Audit in-house assessment of carbon footprint by an independent third party<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Increase <lbg>PV usage<\/lbg> across the portfolio<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Initiate LEED certification at other key property assets<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Maintain utilities performance and <lbg>reduce consumption<\/lbg> by at least 2% in KwH across portfolio<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Embark on an <lbg>endemic tree-planting<\/lbg> programme at Bertrand Estate in the South of Mauritius<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0eceea6 e-con-full e-flex e-con e-child\" data-id=\"0eceea6\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-08335cd elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"08335cd\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/pr_icon1@2x.png\" class=\"attachment-full size-full wp-image-388\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">OUTPUTS AND VALUE CREATED<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bfbb097 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"bfbb097\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>10% Reduction in water expenses<\/lbg> on ECPL and <lbg>15%<\/lbg> on LPL<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>217 kg glass<\/lbg> collected<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>3,195 kg<\/lbg> cardboard collected<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>29.4 kg plastic polystyrene<\/lbg> collected<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>11,094 kg food waste<\/lbg> recycled with BIO Bins, which were converted into four cubic metres of compost<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>174 Kg paper recycled<\/lbg> through annual reports, converted into 8,426 pencils, including some plantable pencils<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>4%<\/lbg> reduction in kVA demand at EDITH<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>16%<\/lbg> reduction in average KwH consumption at Les Cascades Building<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ca1c33 elementor-widget elementor-widget-image\" data-id=\"2ca1c33\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"44\" height=\"44\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/natural.png\" class=\"attachment-large size-large wp-image-263\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f353bac elementor-widget elementor-widget-image\" data-id=\"f353bac\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"48\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/andren@2x.png\" class=\"attachment-large size-large wp-image-281\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-35e36be e-flex e-con-boxed e-con e-child\" data-id=\"35e36be\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-41376a8 elementor-widget elementor-widget-heading\" data-id=\"41376a8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Strategic objectives<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0b3922f e-flex e-con-boxed e-con e-child\" data-id=\"0b3922f\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7e3f566 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"7e3f566\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"46\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/excellence@2x.png\" class=\"attachment-full size-full wp-image-282\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Operational excellence<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a5fc4f elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"0a5fc4f\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"48\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/andren@2x.png\" class=\"attachment-full size-full wp-image-281\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Customer service and retention<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1fefc8d elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"1fefc8d\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/env_icon@2x.png\" class=\"attachment-full size-full wp-image-283\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Sustainability<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6a1728f elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"6a1728f\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"53\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/134@2x.png\" class=\"attachment-full size-full wp-image-284\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Maximise shareholder value<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-775d820 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"775d820\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"45\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/24@2x.png\" class=\"attachment-full size-full wp-image-285\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Employee engagement<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ed9a503 e-flex e-con-boxed e-con e-parent\" data-id=\"ed9a503\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-aaf388b e-flex e-con-boxed e-con e-child\" data-id=\"aaf388b\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c7b7372 elementor-widget elementor-widget-menu-anchor\" data-id=\"c7b7372\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"social-capital\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-58603e3 elementor-widget elementor-widget-heading\" data-id=\"58603e3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">SOCIAL CAPITAL<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-96e9bcc e-con-full e-flex e-con e-child\" data-id=\"96e9bcc\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-221101d elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"221101d\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"604\" height=\"357\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/socail_cap@2x.webp\" class=\"attachment-full size-full wp-image-426\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/socail_cap@2x.webp 604w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/socail_cap@2x-300x177.webp 300w\" sizes=\"(max-width: 604px) 100vw, 604px\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">We aim to nurture transparent and long-term relationships with our stakeholders - whether our shareholders, partners, suppliers, customers, employees and communities. The quality and strength of these relationships determines our ability to execute our strategy and have a positive impact on our communities<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-15be894 e-con-full e-flex e-con e-child\" data-id=\"15be894\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-10f89a4 e-con-full e-flex e-con e-child\" data-id=\"10f89a4\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-86a4cf0 elementor-widget elementor-widget-heading\" data-id=\"86a4cf0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUR KEY INPUTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-494301b elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"494301b\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Rs 2.7m<\/lbg> paid in CSR contributions<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Collaboration with the Taylor Smith Foundation and other NGOs, and CSR initiatives in Mauritius and Rodrigues<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ddd75e2 e-con-full e-flex e-con e-child\" data-id=\"ddd75e2\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-232a2f6 elementor-widget elementor-widget-heading\" data-id=\"232a2f6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">PERFORMANCE HIGHLIGHTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4682497 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"4682497\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Contributed funds to the Taylor Smith Foundation, supporting its actions in the areas of education & youth development, empowerment of women and families, sports, and the protection of the environment<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Communicated a <lbg>monthly Marketing & Communication report<\/lbg> to EDITH tenants<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Implemented a structured and sustained communication strategy<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Successfully integrated House of Digital Art as a new tenant in La Galerie du G\u00e9nie in June 2023<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Provided <lbg>project management assistance<\/lbg> to 12 tenants for the successful fit-out of their space<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Recycled unused annual reports into pencils for distribution to NGOs<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3c5a16b e-flex e-con-boxed e-con e-child\" data-id=\"3c5a16b\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d4620d5 elementor-widget elementor-widget-heading\" data-id=\"d4620d5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2024 PRIORITIES<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e385321 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"e385321\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Continue contributing to sustainable development, with a focus on economic, social and environmental pillars<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Education<\/lbg> will remain the top priority in our CSR endeavours<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Continue lending our support to NGOs and community groups<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Conduct a <lbg>customer satisfaction survey<\/lbg><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Pursue the implementation of the <lbg>communication strategy<\/lbg> at EDITH<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Collaborate with House of Digital Art to <lbg>promote EDITH<\/lbg> as a dynamic art, entertainment and dining venue<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6f4550b e-con-full e-flex e-con e-child\" data-id=\"6f4550b\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a6f9d05 elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"a6f9d05\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/pr_icon1@2x.png\" class=\"attachment-full size-full wp-image-388\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">OUTPUTS AND VALUE CREATED<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7a2a8c6 elementor-widget elementor-widget-text-editor\" data-id=\"7a2a8c6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<lbg>Education<\/lbg> was prioritised as a CSR pillar, with <lbg>contributions to:<\/lbg>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c6325a1 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"c6325a1\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">The Mauritian Wildlife Foundation (projects at Ile aux Aigrettes in Mauritius, and Anse Quitor in Rodrigues)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Caritas Ile Maurice (Boutique Solidaire in Flacq, Mauritius)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Action for Integral Human Development (\u201cSkills for Life\u201d project in schools in Mauritius & Rodrigues)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Shreeji Education Programme (educational support to empower women and children)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Anfen (cookery School)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">We-Recycle (specialising in the collection of plastic bottles & cans for recycling, and raising awareness in schools)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6b703c1 elementor-widget elementor-widget-image\" data-id=\"6b703c1\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"46\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/excellence@2x.png\" class=\"attachment-large size-large wp-image-282\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-42f1a3d elementor-widget elementor-widget-image\" data-id=\"42f1a3d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"48\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/andren@2x.png\" class=\"attachment-large size-large wp-image-281\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-03137dc e-flex e-con-boxed e-con e-child\" data-id=\"03137dc\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dcc7de3 elementor-widget elementor-widget-heading\" data-id=\"dcc7de3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Strategic objectives<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7c5a1d4 e-flex e-con-boxed e-con e-child\" data-id=\"7c5a1d4\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e174868 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"e174868\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"46\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/excellence@2x.png\" class=\"attachment-full size-full wp-image-282\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Operational excellence<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5f939b8 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"5f939b8\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"48\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/andren@2x.png\" class=\"attachment-full size-full wp-image-281\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Customer service and retention<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cb8c72e elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"cb8c72e\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/env_icon@2x.png\" class=\"attachment-full size-full wp-image-283\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Sustainability<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-736807c elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"736807c\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"53\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/134@2x.png\" class=\"attachment-full size-full wp-image-284\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Maximise shareholder value<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-35a5af1 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"35a5af1\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"45\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/24@2x.png\" class=\"attachment-full size-full wp-image-285\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Employee engagement<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a63b4f9 e-flex e-con-boxed e-con e-parent\" data-id=\"a63b4f9\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-cfe4633 e-flex e-con-boxed e-con e-child\" data-id=\"cfe4633\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7d37692 elementor-widget elementor-widget-menu-anchor\" data-id=\"7d37692\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"human-capital\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d36fcf7 elementor-widget elementor-widget-heading\" data-id=\"d36fcf7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">HUMAN CAPITAL<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4df74aa e-con-full e-flex e-con e-child\" data-id=\"4df74aa\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-aeb9be6 elementor-position-right elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"aeb9be6\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"601\" height=\"357\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/human_cap@2x.webp\" class=\"attachment-full size-full wp-image-435\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/human_cap@2x.webp 601w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/human_cap@2x-300x178.webp 300w\" sizes=\"(max-width: 601px) 100vw, 601px\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">We are dedicated to developing the skills and capabilities of our people, and foster a diverse and inclusive work environment. Our aim is to build highperforming and engaged teams who deliver exceptional customer experiences<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-551fbd6 e-con-full e-flex e-con e-child\" data-id=\"551fbd6\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-7e39f70 e-con-full e-flex e-con e-child\" data-id=\"7e39f70\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-383fea2 elementor-widget elementor-widget-heading\" data-id=\"383fea2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUR KEY INPUTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f1ad776 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"f1ad776\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>46 employees<\/lbg><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>Rs 1m<\/lbg> invested in staff training<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Efforts to build a diverse workforce in terms of gender, background, culture and experience<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Training and development opportunities<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chess-pawn\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M105.1 224H80a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h16v5.49c0 44-4.14 86.6-24 122.51h176c-19.89-35.91-24-78.51-24-122.51V288h16a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16h-25.1c29.39-18.38 49.1-50.78 49.1-88a104 104 0 0 0-208 0c0 37.22 19.71 69.62 49.1 88zM304 448H16a16 16 0 0 0-16 16v32a16 16 0 0 0 16 16h288a16 16 0 0 0 16-16v-32a16 16 0 0 0-16-16z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Off-site teambuilding activities<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ae3304c e-con-full e-flex e-con e-child\" data-id=\"ae3304c\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b9fd19c elementor-widget elementor-widget-heading\" data-id=\"b9fd19c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">PERFORMANCE HIGHLIGHTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cdf0ffb elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"cdf0ffb\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Achieved an <lbg>81.4% satisfaction<\/lbg> score on employee engagement (conducted in October 2023)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Completed <lbg>236 hrs<\/lbg> of training<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Implemented interdepartmental Service Level Agreements (SLAs) to improve process efficiencies<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Carried out <lbg>Leadership Programme<\/lbg> for the Management Team in November 2022<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Developed an induction pack to facilitate the onboarding of new tenants<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Created a <lbg>business continuity plan<\/lbg><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-77887c0 e-flex e-con-boxed e-con e-child\" data-id=\"77887c0\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f65a7c9 elementor-widget elementor-widget-heading\" data-id=\"f65a7c9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2024 PRIORITIES<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-32f3df6 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"32f3df6\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Pursue training & development with a <lbg>focus on soft skills<\/lbg>: coordination, communication and problem solving<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Review and <lbg>reengineer business processes<\/lbg> to increase engagement levels and productivity<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Develop Competency Framework for all positions at Lavastone Properties<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Aim for a <lbg>staff turnover rate of below 10%<\/lbg><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Update <lbg>business continuity plan<\/lbg> according to changes in roles and structures<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b929aef e-con-full e-flex e-con e-child\" data-id=\"b929aef\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b167e67 elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"b167e67\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/pr_icon1@2x.png\" class=\"attachment-full size-full wp-image-388\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">OUTPUTS AND VALUE CREATED<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-361aec7 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"361aec7\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>32% women | 68%<\/lbg> men employed<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>33.3% Staff turnover<\/lbg> (15 departures over an average of 45 staff during the year, particularly in the operational team)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-dot-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 56c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m0-48C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 168c-44.183 0-80 35.817-80 80s35.817 80 80 80 80-35.817 80-80-35.817-80-80-80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\"><lbg>100%<\/lbg> of employees have participated in <lbg>at least 1 workshop<\/lbg><\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aabd085 elementor-widget elementor-widget-image\" data-id=\"aabd085\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"34\" height=\"66\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/pr_icon2@2x.png\" class=\"attachment-large size-large wp-image-436\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-702d7dd elementor-widget elementor-widget-image\" data-id=\"702d7dd\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"45\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/24@2x.png\" class=\"attachment-large size-large wp-image-285\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8d1054a e-flex e-con-boxed e-con e-child\" data-id=\"8d1054a\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d202b45 elementor-widget elementor-widget-heading\" data-id=\"d202b45\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Strategic objectives<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d9b8650 e-flex e-con-boxed e-con e-child\" data-id=\"d9b8650\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e8863fc elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"e8863fc\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"46\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/excellence@2x.png\" class=\"attachment-full size-full wp-image-282\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Operational excellence<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a0059f2 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"a0059f2\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"48\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/andren@2x.png\" class=\"attachment-full size-full wp-image-281\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Customer service and retention<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ceda22 elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"5ceda22\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/env_icon@2x.png\" class=\"attachment-full size-full wp-image-283\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Sustainability<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a83d16a elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"a83d16a\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"53\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/134@2x.png\" class=\"attachment-full size-full wp-image-284\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Maximise shareholder value<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e982fb elementor-position-top elementor-widget elementor-widget-image-box\" data-id=\"2e982fb\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"45\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/24@2x.png\" class=\"attachment-full size-full wp-image-285\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Employee engagement<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-dd3a297 e-flex e-con-boxed e-con e-parent\" data-id=\"dd3a297\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-35f1251 elementor-widget elementor-widget-menu-anchor\" data-id=\"35f1251\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"md-message\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cab71f3 elementor-widget elementor-widget-heading\" data-id=\"cab71f3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">MANAGING DIRECTOR\u2019S<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9158650 elementor-widget elementor-widget-heading\" data-id=\"9158650\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">MESSAGE<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7fd7e84 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"7fd7e84\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1a53a06 e-flex e-con-boxed e-con e-parent\" data-id=\"1a53a06\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-29eb6f4 elementor-widget elementor-widget-text-editor\" data-id=\"29eb6f4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Dear Stakeholders,<\/strong><\/p><p>\u00a0I am delighted to present Lavastone Properties&#8217; ESG abridged Report, which reflects our commitment to sustainable development. This evolution is not merely altruistic; it is, in fact, intricately tied to our long-term business success, a healthier planet and a more equitable society. To better understand, measure and communicate our environmental, social and governance impacts, we align our initiatives with the Global Reporting Initiative and the Global Real Estate Sustainability Benchmark standards.<br \/>At Lavastone Properties, sustainability remains a core value in our approach to commercial property development and leasing. This is why as the Managing Director of the Group, it is my responsibility to steer our business practices towards this purpose. Our Sustainability Management Committee, which I lead, is pivotal in integrating sustainability into our core strategy. Recognising that sustainability covers a wide range of issues, we have narrowed our focus on the ones that are most material to our value creation and in harmony with our business objectives:<\/p><p>1. <strong>Carbon Footprint Reduction<\/strong>: Implementing innovative practices to actively lower our carbon footprint.<br \/>2. <strong>Energy Efficiency<\/strong>: Integrating advanced solutions for optimising energy use.<br \/>3. <strong>Water Efficiency<\/strong>: Managing water resources responsibly to minimise waste.<br \/>4. <strong>Sustainable Procurement<\/strong>: Ensuring responsible sourcing within our supply chain.<br \/>5. <strong>Recycling Initiatives<\/strong>: Enhancing waste reduction and recycling processes.<br \/>6. <strong>Employee Welfare<\/strong>: Prioritising the wellbeing and development of our team.<\/p><p>These priorities reflect our holistic approach to sustainability, which balances environmental stewardship with social responsibility and business resilience.<br \/><br \/>Thank you for your support on this journey towards a more sustainable, responsible future in real estate.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f2cf0a0 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"f2cf0a0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Nicolas Vaudin<br \/><span style=\"color: #718567;\">Managing Director, Lavastone Properties<\/span><\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d8b329f e-flex e-con-boxed e-con e-parent\" data-id=\"d8b329f\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dcfb4fb elementor-widget elementor-widget-menu-anchor\" data-id=\"dcfb4fb\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"sustainability-highlights\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e7e6f92 elementor-widget elementor-widget-heading\" data-id=\"e7e6f92\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">SUSTAINABILITY HIGHLIGHTS<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5f9c38c elementor-widget elementor-widget-heading\" data-id=\"5f9c38c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">IN FY 2023<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8c11866 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"8c11866\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-80e366d e-flex e-con-boxed e-con e-parent\" data-id=\"80e366d\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-ccff2df e-flex e-con-boxed e-con e-child\" data-id=\"ccff2df\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-1e4f15e e-flex e-con-boxed e-con e-child\" data-id=\"1e4f15e\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-f57a66a e-flex e-con-boxed e-con e-child\" data-id=\"f57a66a\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dbbd033 elementor-widget elementor-widget-heading\" data-id=\"dbbd033\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">ENVIRONMENT<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-375f543 elementor-widget elementor-widget-text-editor\" data-id=\"375f543\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Implementation of PV EV chargers<br \/>Installation of <strong>50<\/strong> eco-taps<br \/>Recycling of annual reports into <strong>2,000<\/strong> pencils<br \/>LEED Certification obtained at EDITH<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c7db15f e-flex e-con-boxed e-con e-child\" data-id=\"c7db15f\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-853561e e-flex e-con-boxed e-con e-child\" data-id=\"853561e\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1ad1d1b elementor-widget elementor-widget-heading\" data-id=\"1ad1d1b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">SOCIAL<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f3f299 elementor-widget elementor-widget-text-editor\" data-id=\"6f3f299\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Delivered sustainability training to employees<br \/>Achieved employee engagement score of<br \/>more than<strong> 80%<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ee14246 e-flex e-con-boxed e-con e-child\" data-id=\"ee14246\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-b03f867 e-flex e-con-boxed e-con e-child\" data-id=\"b03f867\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-13667a8 elementor-widget elementor-widget-heading\" data-id=\"13667a8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">GOVERNANCE<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e574d00 elementor-widget elementor-widget-text-editor\" data-id=\"e574d00\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Implementation of PV EV chargers<br \/>Installation of <strong>50<\/strong> eco-taps<br \/>Recycling of annual reports into <strong>2,000<\/strong> pencils<br \/>LEED Certification obtained at EDITH<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a42cb76 e-flex e-con-boxed e-con e-parent\" data-id=\"a42cb76\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0e38698 elementor-widget elementor-widget-heading\" data-id=\"0e38698\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Our ESG framework<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-507a482 elementor-widget elementor-widget-text-editor\" data-id=\"507a482\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Lavastone Properties has established its Environmental, Social and Governance (ESG) framework in accordance with the components of the Global Reporting Initiative (GRI) and the Global Real Estate Sustainability Benchmark (GRESB). Our practices support our vision and risk appetite statement, while contributing to the UN Sustainable Development Goals (SDGs). <br \/><br \/>To ensure we deliver on our commitments effectively, we have developed an appropriate oversight structure, and a culture of ownership and accountability. Our Board of Directors is ultimately accountable for our ESG strategy and supports initiatives through the delegation of its ESG risk management to the Risk Management and Audit Committee (RMAC). <br \/><br \/>We have also created a <strong><em>Sustainability Management Committee (SMC)<\/em><\/strong>, chaired by the Managing Director and consisting of ESG champions for each area of focus. The SMC reports all ESG-related matters to the RMAC on a quarterly basis.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dd0bb69 elementor-widget elementor-widget-heading\" data-id=\"dd0bb69\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Our strategy and priority areas<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1b376cc elementor-widget elementor-widget-text-editor\" data-id=\"1b376cc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>At Lavastone Properties, sustainability is not considered an optional add-on, but an intrinsic part of our core business, and central to our values and vision for the future.<\/strong> This vision guides us to grow in an environmentally responsible manner and contribute to the social well being of our employees and the community, all while delivering optimum value to our shareholders. To advance our sustainability goals, we recognise the importance of close collaboration and collective actions with various stakeholders, such as environmental organisations, government agencies, non-profit organisations, and recycling partners. <br \/><br \/>Our key priority areas for sustainable development and inclusiveness for the next years, as identified by the Board of Directors, are centred on:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a5259f5 e-flex e-con-boxed e-con e-child\" data-id=\"a5259f5\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-aed2277 e-con-full e-flex e-con e-child\" data-id=\"aed2277\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-75d69e4 e-flex e-con-boxed e-con e-child\" data-id=\"75d69e4\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8e4d08d elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"8e4d08d\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"35\" height=\"69\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/cf@4x.png\" class=\"attachment-full size-full wp-image-459\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Carbon footprint<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3184ad7 elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"3184ad7\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"35\" height=\"72\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/we@4x.png\" class=\"attachment-full size-full wp-image-464\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Water efficiency<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-adf3005 elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"adf3005\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"35\" height=\"73\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/rw@4x.png\" class=\"attachment-full size-full wp-image-462\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Recycling and waste management<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f210104 e-flex e-con-boxed e-con e-child\" data-id=\"f210104\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a977861 elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"a977861\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"35\" height=\"76\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/ee@4x.png\" class=\"attachment-full size-full wp-image-460\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Energy efficiency<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2218b03 elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"2218b03\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"35\" height=\"69\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/sp@4x.png\" class=\"attachment-full size-full wp-image-463\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Sustainable procurement<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ef8ddf1 elementor-position-left elementor-vertical-align-middle elementor-widget elementor-widget-image-box\" data-id=\"ef8ddf1\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"60\" height=\"56\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/ew@4x.png\" class=\"attachment-full size-full wp-image-461\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Employee welfare (employee engagement & performance)<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f03501a e-flex e-con-boxed e-con e-parent\" data-id=\"f03501a\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e956221 elementor-widget elementor-widget-heading\" data-id=\"e956221\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Our ESG performance<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d4d62e elementor-widget elementor-widget-heading\" data-id=\"7d4d62e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">I. ENVIRONMENT<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1db2a3b elementor-widget elementor-widget-text-editor\" data-id=\"1db2a3b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Our commitment to building and operating sustainably, embracing clean energy, managing our waste responsibly and encouraging electric mobility is aimed at building a portfolio of energy-efficient and eco-friendly properties, with a reduced environmental footprint.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-644d0b2 elementor-position-left elementor-vertical-align-bottom elementor-widget elementor-widget-image-box\" data-id=\"644d0b2\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"18\" height=\"35\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/cf@2x.png\" class=\"attachment-full size-full wp-image-453\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Our Carbon Footprint<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ba53624 elementor-widget elementor-widget-text-editor\" data-id=\"ba53624\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><em><strong>Partners: WillChange<\/strong><\/em><\/p><p>Following our carbon footprint assessment conducted in FY 2021, we found that the examination of our Scope 3 emissions was somewhat limited and required a deeper dive. We embarked on a proactive journey with WillChange drawing on their experience in business development and expertise in the carbon economy to gain a more comprehensive understanding of our indirect emissions This partnership is not only enabling us to calculate our carbon footprint, anchored in the \u2018Bilan Carbone\u2019 framework, but it also guides us towards building autonomy and excellence in this area through targeted employee training.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e0d61cd elementor-position-left elementor-vertical-align-bottom elementor-widget elementor-widget-image-box\" data-id=\"e0d61cd\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"18\" height=\"37\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/rw@2x.png\" class=\"attachment-full size-full wp-image-456\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Recycling and waste management<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f5a1dc elementor-widget elementor-widget-text-editor\" data-id=\"6f5a1dc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>(i) Recycled annual reports partners: Morivert<br \/><\/b>Our partnership with Morivert, an organisation dedicated to environmental sustainability, enabled the manufacturing of 2,000 branded pencils from recycled annual reports, resulting in a substantial reduction of 36 kilograms of paper waste. These pencils were thoughtfully distributed to our employees, loyal clients, and local schools.<\/p><p><b>(ii) E-waste partners: BEM Recycling<br \/><\/b>This partnership highlights our commitment to reducing e-waste and adhering to ethical and responsible disposal practices of:<br \/>\u2022 Non-reusable batteries<br \/>\u2022 Electronic waste (mouse, keyboards etc)<br \/><span style=\"font-size: 14px; color: var( --e-global-color-secondary ); text-align: var(--text-align);\"><br \/><b>(iii) Waste management partners: GREEN and BiobiN<br \/><\/b><\/span><span style=\"font-size: 14px; color: var( --e-global-color-secondary ); text-align: var(--text-align);\">The use of \u2018MOLOK\u2019 bins provided by GREEN, coupled with their recycling facilities, has enabled us to improve our waste collection practices, while also reducing the impact of the transportation of waste materials. We made strides in managing our organic and wet waste, thanks to a partnership with BiobiN, an innovative and patented on-site containment and processing system that manages food and organic waste that would otherwise end up in landfill<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-99abb5b elementor-position-left elementor-vertical-align-bottom elementor-widget elementor-widget-image-box\" data-id=\"99abb5b\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"52\" height=\"48\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/NRG_WATER@2x.png\" class=\"attachment-full size-full wp-image-477\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Energy and water efficiency<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e90c045 elementor-widget elementor-widget-text-editor\" data-id=\"e90c045\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b><i>(iv) Electric mobility partners: Central Electricity Board (CEB) and GREEN YELLOW<br \/><\/i><\/b><br \/>In pursuit of the transition towards cleaner energy sources, we have partnered with specialised companies to implement Photovoltaic (PV) Electric Vehicle (EV) chargers. We have taken a transformative step by equipping the roof of one of our parking facilities with photovoltaic panels, which boast an installed capacity of 47 kWp. This collaboration not only benefits Lavastone Properties, but also aligns with national goals for a more sustainable energy mix.<br \/><br \/><b><i>(v) Eco-taps partners: Fralain <br \/><\/i><\/b><br \/>We initiated the installation of 50 e co-taps at the Edith and Cascades buildings, which represent a significant advancement in water conservation technology. These innovative fixtures have replaced conventional taps with automatic sensors, designed to reduce the flow of water to a mere 1.33 litres per minute, compared to the previous 5 litres per minute.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7f6a245 elementor-vertical-align-bottom elementor-widget elementor-widget-image-box\" data-id=\"7f6a245\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">LEED Certification<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7e84ebd elementor-widget elementor-widget-text-editor\" data-id=\"7e84ebd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>(vi) Partners: Leadership in Energy and Environmental Design (LEED)<br \/><br \/>We adhere to specific environmental certifications and standards in line with <b>LEED<\/b>, at both the design and operations stages. As a result of our diligent efforts, EDITH has received the <b>LEED Gold certification<\/b>, which recognises exemplary leadership in sustainable building practices. We aim to build on this achievement and further improve the efficiency of our operations by working towards the platinum status.<br \/><br \/>In our endeavours to have LEED-certified buildings, we undertook a comprehensive evaluation of the factors influencing our energy consumption, focusing on the monthly average energy usage per Gross Leasable Area (GLA) within our office portfolio and the energy use of the various asset types.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8c9d65f e-flex e-con-boxed e-con e-child\" data-id=\"8c9d65f\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-4a48dfe e-flex e-con-boxed e-con e-child\" data-id=\"4a48dfe\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e9a07f5 elementor-widget elementor-widget-heading\" data-id=\"e9a07f5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Energy use by GLA (kWh\/m\u00b2)<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0925d34 elementor-widget elementor-widget-image\" data-id=\"0925d34\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"498\" height=\"377\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/energy_use_gla@2x.png\" class=\"attachment-large size-large wp-image-485\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/energy_use_gla@2x.png 498w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/energy_use_gla@2x-300x227.png 300w\" sizes=\"(max-width: 498px) 100vw, 498px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-25347be e-flex e-con-boxed e-con e-child\" data-id=\"25347be\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-95df3f5 elementor-widget elementor-widget-heading\" data-id=\"95df3f5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Total Grid Energy Use (KWh)<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-03968c7 elementor-widget elementor-widget-image\" data-id=\"03968c7\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"296\" height=\"336\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/grid_energy@2x.png\" class=\"attachment-large size-large wp-image-484\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/grid_energy@2x.png 296w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/grid_energy@2x-264x300.png 264w\" sizes=\"(max-width: 296px) 100vw, 296px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-248c553 elementor-widget elementor-widget-text-editor\" data-id=\"248c553\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>We observed a stable trend in water usage, and further positive changes are anticipated following the implementation of eco-taps. This initiative is expected to yield notable reductions in water consumption, particularly at Les Cascades and St Georges buildings.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c64ac76 e-flex e-con-boxed e-con e-child\" data-id=\"c64ac76\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-f47d375 e-flex e-con-boxed e-con e-child\" data-id=\"f47d375\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-54ddd20 elementor-widget elementor-widget-heading\" data-id=\"54ddd20\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Water consumption per GLA (m3\/m2)<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bb0d671 elementor-widget elementor-widget-image\" data-id=\"bb0d671\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"479\" height=\"354\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/wc_gla@2x.png\" class=\"attachment-large size-large wp-image-487\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/wc_gla@2x.png 479w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/wc_gla@2x-300x222.png 300w\" sizes=\"(max-width: 479px) 100vw, 479px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-68ac944 e-flex e-con-boxed e-con e-child\" data-id=\"68ac944\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6c3f1f5 elementor-widget elementor-widget-heading\" data-id=\"6c3f1f5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Average Monthly Energy consumption by GLA (kWh\/m\u00b2)<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f434c04 elementor-widget elementor-widget-image\" data-id=\"f434c04\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"422\" height=\"361\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/ave_nrg@2x.png\" class=\"attachment-large size-large wp-image-488\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/ave_nrg@2x.png 422w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/ave_nrg@2x-300x257.png 300w\" sizes=\"(max-width: 422px) 100vw, 422px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-621f203 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"621f203\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4f5fcf7 e-flex e-con-boxed e-con e-parent\" data-id=\"4f5fcf7\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5c1c357 elementor-widget elementor-widget-heading\" data-id=\"5c1c357\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">II. SOCIAL<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c0d0d66 elementor-widget elementor-widget-text-editor\" data-id=\"c0d0d66\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Our social commitment is reflected in our investments in our employees, our tenants and customers, and our community-driven initiatives.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-35c8355 elementor-vertical-align-bottom elementor-widget elementor-widget-image-box\" data-id=\"35c8355\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Employees<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-33ceed8 elementor-widget elementor-widget-text-editor\" data-id=\"33ceed8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>(a) Employee \u2019 profiles at Lavastone Properties (LPL) and Lavastone Services (LSL)<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c6bcd3c elementor-widget elementor-widget-heading\" data-id=\"c6bcd3c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Employee profile by gender<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8deb414 elementor-widget elementor-widget-image\" data-id=\"8deb414\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"391\" height=\"213\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/emp_gen_profile@2x.png\" class=\"attachment-large size-large wp-image-492\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/emp_gen_profile@2x.png 391w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/emp_gen_profile@2x-300x163.png 300w\" sizes=\"(max-width: 391px) 100vw, 391px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ffd91bd elementor-widget elementor-widget-text-editor\" data-id=\"ffd91bd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>We recognise that a positive and fair working environment is critical to attract and retain talent. Our employee programme was developed with this in mind, and aims to enhance performance, learning, career development and wellbeing.<br \/><br \/><b><i>(b) Talent Management and Employee Performance &amp; Engagement<br \/><\/i><\/b><br \/>in a bid to better manage our talent, we have implemented robust recruitment procedures, timely<br \/>induction programmes, and adequate learning and development opportunities, working to create a pipeline of<br \/>future leaders through succession planning. Employee engagement and recognition are achieved through regular<br \/>communication and involvement, as well as our performance management system<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b89aa4c elementor-vertical-align-bottom elementor-widget elementor-widget-image-box\" data-id=\"b89aa4c\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Engagement survey results<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d07a23d e-flex e-con-boxed e-con e-child\" data-id=\"d07a23d\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-730dca1 e-flex e-con-boxed e-con e-child\" data-id=\"730dca1\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-26a995c elementor-widget elementor-widget-text-editor\" data-id=\"26a995c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>2021<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-92cb828 elementor-widget elementor-widget-heading\" data-id=\"92cb828\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">84.8%<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d7e2941 e-flex e-con-boxed e-con e-child\" data-id=\"d7e2941\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-59b1a71 elementor-widget elementor-widget-text-editor\" data-id=\"59b1a71\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>2022<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-33aeb34 elementor-widget elementor-widget-heading\" data-id=\"33aeb34\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">85%<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9c83cb5 e-flex e-con-boxed e-con e-child\" data-id=\"9c83cb5\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-70d0afd elementor-widget elementor-widget-text-editor\" data-id=\"70d0afd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>2023<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b033e0b elementor-widget elementor-widget-heading\" data-id=\"b033e0b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">81.4%<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d654412 elementor-widget elementor-widget-text-editor\" data-id=\"d654412\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>To enhance our commitment to our employees and strengthen the team cohesion, we engage frequently with our people through:<br \/><br \/>\u2022 Sessions on the company\u2019s values and expected behaviours<br \/>\u2022 Quarterly town hall meetings<br \/>\u2022 Monthly presentations of our employees on social media<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-700f263 elementor-vertical-align-bottom elementor-widget elementor-widget-image-box\" data-id=\"700f263\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Performance management<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8eb6325 elementor-widget elementor-widget-text-editor\" data-id=\"8eb6325\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Our performance management system was introduced and developed to provide an incentive scheme based on Group results, individual and team performances. The performance management process consists of three key steps:<br \/><br \/>\u2022 Setting Key Performance Objectives<br \/>\u2022 Mid-year review<br \/>\u2022 Final assessment<br \/><br \/>In order to boost the performance of various departments and enhance the efficiency across and between the different teams, specific Service Level Agreements and performance indicators have been established since July 2023 and are evaluated on a monthly basis. This enables each department and each individual to track their progress towards the defined targets and objectives.<br \/><br \/><b><i>(c) Learning &amp; Development<br \/><\/i><\/b><br \/>Learning and Development opportunities are provided to Lavastone Properties\u2019 employees through appropriate induction and training. Adequate training enables the acquisition and enhancement of skills, knowledge and expertise and supports the Company\u2019s leadership and succession planning. Our training programmes have covered topics such as Management and Compliance, Health &amp; Safety, Cybersecurity and Sustainability.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3b50e07 elementor-widget elementor-widget-heading\" data-id=\"3b50e07\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Average training hours per employee<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a435c63 elementor-widget elementor-widget-image\" data-id=\"a435c63\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"556\" height=\"265\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/ave_training_per_emp@2x.png\" class=\"attachment-large size-large wp-image-493\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/ave_training_per_emp@2x.png 556w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/ave_training_per_emp@2x-300x143.png 300w\" sizes=\"(max-width: 556px) 100vw, 556px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-62fd9ca elementor-vertical-align-bottom elementor-widget elementor-widget-image-box\" data-id=\"62fd9ca\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Community<\/h3><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9e074fb elementor-widget elementor-widget-text-editor\" data-id=\"9e074fb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Lavastone Properties is committed to improving customer service and operational excellence to achieve its vision to be the preferred partner for commercial real estate solutions by delivering superior value. <br \/><br \/>We engage with the community and strive to fulfil our social responsibility by sponsoring CSR projects through the Taylor Smith Foundation. The mission of the Foundation is to contribute to sustainable development, with a focus on economic, social and environmental pillars. It also uses the United Nations\u2019 Sustainable Development Goals (SDGs) as guiding principles, with education remaining a top priority. <br \/><br \/>In FY 2023, our contribution was used to finance several projects through different NGOs, such as:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-90a849a e-flex e-con-boxed e-con e-child\" data-id=\"90a849a\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-26cdbe0 e-flex e-con-boxed e-con e-child\" data-id=\"26cdbe0\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f1ecccb elementor-widget elementor-widget-text-editor\" data-id=\"f1ecccb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>\u2022 Mauritian Wildlife Foundation (Projects at L\u2019Ile Aux Aigrette,<br \/>Mauritius &amp; Anse Quitor, Rodrigues).<br \/>\u2022 Caritas Ile Maurice (Boutique Solidaire in Flacq, Mauritius)<br \/>\u2022 Action For Integral Human Development (\u201cSkills for Life\u201d project<br \/>in schools, Mauritius &amp; Rodrigues)<br \/>\u2022 Shreeji Education Program (Educational support to children &amp;<br \/>women\u2019s empowerment )<br \/>\u2022 Anfen (Cookery School)<br \/>\u2022 We-Recycle (Specialises in the collection of plastic bottles &amp; cans<br \/>for recycling + Awareness sessions in schools)<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c32415d e-flex e-con-boxed e-con e-child\" data-id=\"c32415d\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-6f3fe5a e-flex e-con-boxed e-con e-child\" data-id=\"6f3fe5a\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3ed1b38 elementor-widget elementor-widget-text-editor\" data-id=\"3ed1b38\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Amount<br \/>contributed:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9c06b90 elementor-widget elementor-widget-counter\" data-id=\"9c06b90\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\n.elementor-counter{display:flex;justify-content:center;align-items:stretch;flex-direction:column-reverse}.elementor-counter .elementor-counter-number{flex-grow:var(--counter-number-grow,0)}.elementor-counter .elementor-counter-number-wrapper{flex:1;display:flex;font-size:69px;font-weight:600;line-height:1;text-align:center}.elementor-counter .elementor-counter-number-prefix{text-align:end;flex-grow:var(--counter-prefix-grow,1);white-space:pre-wrap}.elementor-counter .elementor-counter-number-suffix{text-align:start;flex-grow:var(--counter-suffix-grow,1);white-space:pre-wrap}.elementor-counter .elementor-counter-title{flex:1;display:flex;justify-content:center;align-items:center;margin:0;padding:0;font-size:19px;font-weight:400;line-height:2.5}<\/style>\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\">Rs <\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"2.7\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">m<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4d09a94 e-flex e-con-boxed e-con e-child\" data-id=\"4d09a94\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c8812ff e-flex e-con-boxed e-con e-child\" data-id=\"c8812ff\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bd81ea4 elementor-widget elementor-widget-heading\" data-id=\"bd81ea4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Spotlight on: The Fairy Tree Project<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-596367b elementor-widget elementor-widget-text-editor\" data-id=\"596367b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>This participatory art project was imagined by THE THIRD DOT and inspired by the exhibition \u2018Porte-Bonheurs\u2019 at Le Bon March\u00e9 in Paris. The Fairy Tree project involved the installation of handcrafted fabric icons hanging on countless vines at La Cour du G\u00e9nie at EDITH. Local icons, such as the well known Mauritian artist Malcolm de Chazal, inspired the butterfly, dodo, parrot and hibiscus designs.<br \/><br \/>The icons were sewn by six women from vulnerable communities in the region of La Gaulette, and supported by the association \u2018Les Anges du Soleil\u2019 whose mission is to uplift the precarious cities of Tamarin and Black River and help families escape the pattern of generational poverty through education and support.<\/p><p><strong>Sewers in the region of La Gaulette were sponsored for an amount<\/strong><br \/><strong>of Rs 91.5k.<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-790ad5d e-flex e-con-boxed e-con e-child\" data-id=\"790ad5d\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-4b86ded e-flex e-con-boxed e-con e-child\" data-id=\"4b86ded\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5a0834d elementor-widget elementor-widget-text-editor\" data-id=\"5a0834d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Amount<br \/>sponsored:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fbfb5f9 elementor-widget elementor-widget-counter\" data-id=\"fbfb5f9\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\">Rs <\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"91.5\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">k<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e87f2fd e-flex e-con-boxed e-con e-parent\" data-id=\"e87f2fd\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-14412ac elementor-widget elementor-widget-heading\" data-id=\"14412ac\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">III. GOVERNANCE<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-40c5337 elementor-widget elementor-widget-text-editor\" data-id=\"40c5337\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Corporate Governance enhances accountability, transparency and ethics. It is increasingly viewed as valuable by investors as it establishes trust and confidence among stakeholders, and enhances a company\u2019s long-term performance. As a listed company on the Stock Exchange of Mauritius and a responsible citizen of Mauritius, Lavastone Properties has not only adopted the practices set out in the National Code of Corporate Governance, but we are also strongly committed to maintaining the highest level of integrity in our business practices to achieve sustainable development. The Board of Directors ultimately retains the accountability and responsibility to implement the Corporate Governance Framework, which also incorporates the Risk Management Framework, the Business Continuity Management Framework (BCM), and relevant policies and procedures.<br \/><br \/><strong>Key figures<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b58b62b e-flex e-con-boxed e-con e-child\" data-id=\"b58b62b\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-6ef488e e-flex e-con-boxed e-con e-child\" data-id=\"6ef488e\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-379d69d elementor-widget elementor-widget-text-editor\" data-id=\"379d69d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Board independence:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8fc103a elementor-widget elementor-widget-heading\" data-id=\"8fc103a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">38%<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-934ae85 e-flex e-con-boxed e-con e-child\" data-id=\"934ae85\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1a930e0 elementor-widget elementor-widget-text-editor\" data-id=\"1a930e0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Women on Board:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e08fdad elementor-widget elementor-widget-heading\" data-id=\"e08fdad\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">25%<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4453bb7 e-flex e-con-boxed e-con e-child\" data-id=\"4453bb7\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a728da0 elementor-widget elementor-widget-text-editor\" data-id=\"a728da0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Women in Management:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-73788b2 elementor-widget elementor-widget-heading\" data-id=\"73788b2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">46%<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-97da620 elementor-widget elementor-widget-text-editor\" data-id=\"97da620\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Business Continuity Management Framework (BCMF)<\/strong><br \/><br \/>Our BCM framework is based on ISO 22301, and includes a Business Continuity policy established in 2021, a BCM champion, as well as the business continuity plan and objectives. The purpose of the programme is to:<br \/><br \/>\u2022 Minimise the risk of disruptive incidents through collaboration;<br \/>\u2022 Establish appropriate business continuity targets and solutions for prioritis ed activities;<br \/>\u2022 Embed business continuity across Lavastone Properties.<br \/><br \/><strong>Policies and Procedures<\/strong><br \/><br \/>As part of its Risk Management process, Lavastone Properties has established several policies and procedures to prevent and mitigate key operational, regulatory, technological and financial risks:<br \/><br \/>a. Code of Conduct \/ Code of Ethics<br \/>b. Risk Management policy<br \/>c. Business Continuity Management policy<br \/>d. AML\/CFT policy<br \/>e. Information Security policy<br \/>f. Privacy policy<br \/>g. Whistleblowing policy<br \/>h. Conflict of Interest policy<br \/>i. Fraud, Corruption and anti-bribery policy<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-438a4fd e-flex e-con-boxed e-con e-parent\" data-id=\"438a4fd\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-19809aa elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"19809aa\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-815a28f e-flex e-con-boxed e-con e-parent\" data-id=\"815a28f\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-66c25c7 elementor-widget elementor-widget-menu-anchor\" data-id=\"66c25c7\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"case-study\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-edd67c2 elementor-widget elementor-widget-heading\" data-id=\"edd67c2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">CASE STUDY:<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4d04c04 elementor-widget elementor-widget-heading\" data-id=\"4d04c04\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">HOTEL AT MOUROUK, RODRIGUES<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a258860 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"a258860\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6187b76 elementor-widget elementor-widget-heading\" data-id=\"6187b76\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">A KITESURFING AND WINDSURFING PARADISE<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ec8d660 e-flex e-con-boxed e-con e-child\" data-id=\"ec8d660\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-13328ea elementor-widget elementor-widget-heading\" data-id=\"13328ea\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">AT A GLANCE<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bea7f4c elementor-widget elementor-widget-text-editor\" data-id=\"bea7f4c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>\u2022 3-star hotel with 2 restaurants, a Boathouse and Kite Club, 1 beachfront bar, 1 pool, kids club, a conference room<br \/>\u2022 A focus on health and wellness, with an outdoor health track, group fitness and yoga sessions, rental bikes, seaside massages<br \/>\u2022 66 rooms and 2 villas to equate 71 rooms in total<br \/>\u2022 Located at Mourouk, ranked in the top 10 kitesurfing destinations in the world<br \/>\u2022 Carbon-Neutral Stay available<br \/>\u2022 One booking = One coral planted<br \/>\u2022 Customised packages to explore Rodrigues<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a4c9057 elementor-widget elementor-widget-heading\" data-id=\"a4c9057\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Background and context<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e0aaf51 elementor-widget elementor-widget-text-editor\" data-id=\"e0aaf51\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In 2018, we were approached by Trimetys Hotels for an investment opportunity in Rodrigues. At the time, Lavastone Properties held a satisfactory portfolio of yielding properties, including a mix of office and industrial buildings, and had recently forayed into the hospitality segment with the Sunrise Attitude Hotel. Trimetys, for its part, was intent on expanding its footprint in Rodrigues, building on the success and experience garnered from operating Le Tekoma Boutique Hotel on the island. They turned their sights to Mourouk Ebony Hotel, a 3-star resort that has been part of the landscape of Rodrigues since 1994. <br \/><br \/>This opportunity piqued our interest for many reasons. Firstly, hospitality was not an unknown territory to Lavastone Properties. Several members of Lavastone Properties\u2019 leadership and management team have extensive experience in the sector and were in a position to add value to the conceptualisation and masterplan of the project. Additionally, Trimetys Hotels is an established hotel operator in Rodrigues, with ample local knowledge, strong relationships with the community, and best practices specific to the island. These factors are crucial in navigating the complexities associated with running a hotel in Rodrigues. <br \/><br \/>After carefully evaluating the opportunity, we proposed a plan to provide a higher standard of service and accommodation to guests, aimed at maximising the yielding potential of the property: an expansion of the hotel from 35 to 66 rooms with the possibility to extend this to 85 rooms, and a series of renovations to upgrade some of the hotel\u2019s facilities, including the common areas, core infrastructure, service levels, and health and safety aspects. <br \/><br \/>In February 2019, Lavastone Properties finalised the acquisition of Compagnie Valome Lt\u00e9e (CVL), which owned the premises of Mourouk Ebony Hotel, covering an area of 35,326 m2. CVL entered into a triple net lease agreement with Mourouk Ebony Management Ltd, a subsidiary of Trimetys Hotels, to lease the hotel property until June 2031. In early 2020, we obtained the first permits to renovate parts of the hotel, and we prepared to close the hotel doors between January and November 2020 to carry out our expansion and renovation plans. Then came the pandemic.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d3c3e7 elementor-widget elementor-widget-heading\" data-id=\"6d3c3e7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">THE CHALLENGES WE FACED<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-80243a4 elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"80243a4\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/access_icon@2x.png\" class=\"attachment-full size-full wp-image-516\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Accessibility<\/h3><p class=\"elementor-image-box-description\">Rodrigues\u2019 appeal lies in its remoteness, seclusion and pristine beaches, beckoning travellers in quest of the\nultimate Robinson Crusoe escapade. However, building and operating a hotel in an isolated location presents a\nhost of logistical challenges for real estate developers and hotel operators: limited transportation infrastructure,\nand infrequent air and sea transport hinder the ability to procure essential supplies such as food,\nconstruction materials, equipment and other resources to the island. In parallel, limited access to important utilities,\nsuch as electricity, water or telecommunications, often requires hotels to invest in backup systems and to excel\nat planning, budgeting, project management and supply chain management.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a3ac4ba elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"a3ac4ba\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/finan_icon@2x.png\" class=\"attachment-full size-full wp-image-520\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Financial viability<\/h3><p class=\"elementor-image-box-description\">Building and operating a hotel is inherently a complex and multifaceted endeavour, as several regulations and\nstandards must be complied with, a wide range of stakeholders must be managed, several unforeseen situations\nand weather conditions can arise, and staffing challenges increasingly threaten the smooth running of hotels.\nThe remoteness of Rodrigues introduces additional financial pressures, such as the risk of longer lead times,\nwhich could translate into revenue losses and affect the return on investment.\n<br><br>\n\nAdding another layer of complexity, the pandemic hit the world in March 2020, causing international and domestic\ntravel to come to a brutal halt. Given the travel constraints, Trimetys\u2019 and Lavastone Properties\u2019 teams were unable to\nvisit the site and liaise with the stakeholders. In fact, the site was handed over through the contractor via video call.\nIn May 2020, travel between Rodrigues and Mauritius resumed, leading us to believe that the difficulties were\nbehind us. In October 2021, however, Rodrigues recorded its first Covid-19 case, prompting the island to close its\nborders until March 2022, and further delaying the opening of the hotel.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f307699 elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"f307699\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"31\" height=\"50\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/234@2x.png\" class=\"attachment-full size-full wp-image-539\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Environmental and cultural considerations<\/h3><p class=\"elementor-image-box-description\">Rodrigues\u2019 untouched beaches and unique ecosystems must be preserved at all costs to ensure the sustainability\nof the island. Understanding and respecting the local culture is equally crucial in promoting positive interactions\nwith the community. Hotel operators must take into account the impact of their operations on their surroundings,\nand ensure that their presence benefits the region.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-147ae5c elementor-widget elementor-widget-heading\" data-id=\"147ae5c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUR RESPONSE<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-048fabd elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"048fabd\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/access_icon@2x.png\" class=\"attachment-full size-full wp-image-516\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Accessibility<\/h3><p class=\"elementor-image-box-description\">The limited number of accommodations in Rodrigues prompted the decision to redevelop the hotel, which improves\nboth the island\u2019s visibility and the hotel\u2019s accessibility to new travellers. In light of the challenges in procuring\nessential resources, energy and water in particular, we have installed a full-power backup system to ensure\nuninterrupted operations. Additionally, we built a desalination plant to overcome water scarcity, supply enough\nwater for the resort\u2019s operations, and also offer a sustainable solution for reliable water on the island.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b04c99 elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"9b04c99\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"39\" height=\"36\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/finan_icon@2x.png\" class=\"attachment-full size-full wp-image-520\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Financial viability<\/h3><p class=\"elementor-image-box-description\">A strong and distinct brand identity<br><br>\nThe full renovation of the hotel called for a new brand identity in line with its modernity-meets-retro vibe.\nMourouk Ebony Hotel became PLAY Mourouk, aptly named as a playground for kitesurfers and windsurfers on\none of the world\u2019s most iconic kitesurfing beaches. In 2019, plans had already been made for the extension of\nthe hotel to 66 rooms, a new bar with a DJ booth, and a panoramic restaurant. In 2020, the challenges related to\nthe pandemic prompted a deeper reflection on how to maximise the hotel\u2019s revenue potential. We increased the\nnumber of rooms to 71 instead of the original 66, in a bid to improve the earning potential of the operator and\nconsequently the profitability of the project for CVL.<br><br>\nSelecting the right partners<br><br>\nTrimetys Group has extensive experience operating in the hospitality and real estate industry. Today, it operates and\nmanages Be Cosy Apart\u2019Hotel and Sakoa Boutik Hotel in Trou aux Biches, Mauritius, and Le Tekoma Boutique Hotel,\nwhich has earned a reputation as one of the most coveted hotels in Rodrigues. Each one of these hotels is rooted\nin a strong concept and unique identity, and PLAY Mourouk is no different. Additionally, Trimetys is well-regarded\namong the local workforce, a factor that could help to attract and retain talents seeking an employer with a proven\nand stable track record.<br><br>\nIn October 2023, Constance Hotels Services Ltd announced the acquisition of 60% of Ebony Management Ltd for\nthe management and operation of PLAY Mourouk. Constance\u2019s expertise in operating C Resorts, which shares\nsimilarities with PLAY Mourouk in terms of market segment and guest experience, is a valuable asset that will\nserve to enhance operational efficiency, elevate service standards, and promote both Rodrigues and the hotel\nmore effectively. As of January 2024, the hotel will be branded and operated in line with the C Resorts concept.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-46d1b7d elementor-position-left elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"46d1b7d\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><img loading=\"lazy\" decoding=\"async\" width=\"31\" height=\"50\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/234@2x.png\" class=\"attachment-full size-full wp-image-539\" alt=\"\" \/><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Environmental and cultural considerations<\/h3><p class=\"elementor-image-box-description\">Sustainability at heart<br><br>\nThe preservation of the unique environment and culture of Rodrigues are at the heart of Lavastone Properties.\nAn alignment in environmental and societal values between Lavastone Properties, Trimetys and Constance has\ngiven rise to a value proposition that weaves responsible tourism into every aspect of the guest journey: reused\nplastic bottles and old kite surfs make up the interiors of the hotel; a partnership with Bluer Ocean Project,\nwhich aims to protect the lagoon and coral reef in Rodrigues; the option to have a carbon-neutral stay and to\nembrace initiatives such as desalinated water production to reduce water stress; a waste water treatment plant\nto treat all effluents for reissue as irrigation water; employment of 100% employees from Rodrigues; favouring\nlocally-made, locally-sourced and eco-friendly products; and a push to explore the island and promote awareness\nabout its unique environmental and cultural aspects. Following the opening of the hotel, we are considering\nfurther initiatives, such as photovoltaic farms, to further reduce our carbon footprint and participate in the\nsocioeconomic development of the island.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-48be8f8 e-flex e-con-boxed e-con e-parent\" data-id=\"48be8f8\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-ab9648c e-con-full e-flex e-con e-child\" data-id=\"ab9648c\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-96e5d32 elementor-widget elementor-widget-heading\" data-id=\"96e5d32\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">RODRIGUES<br>\nAS YOUR<br>\nPLAYGROUND<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-347da5e elementor-widget elementor-widget-text-editor\" data-id=\"347da5e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>\u201cPLAY Mourouk isn\u2019t just a stay \u2013 it\u2019s a joyride, a life-highlight reel, a mixtape of unforgettable moments. We\u2019ve stirred the retro surf magic into the Rodrigues authenticity, cooking up an atmosphere that\u2019s classic, cool, and captivating. Besides catching waves, we also ride the green wave of sustainability.\u201d<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1a28dea e-con-full e-flex e-con e-child\" data-id=\"1a28dea\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b777a6f elementor-widget elementor-widget-image\" data-id=\"b777a6f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"923\" height=\"503\" src=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/mourouk_img@2x.webp\" class=\"attachment-large size-large wp-image-535\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/mourouk_img@2x.webp 923w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/mourouk_img@2x-300x163.webp 300w, https:\/\/lavastone.mu\/annual-report-2023\/wp-content\/uploads\/2024\/01\/mourouk_img@2x-768x419.webp 768w\" sizes=\"(max-width: 923px) 100vw, 923px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>PRECISION PLAY PERFORMANCE REPORT Paving the way,one move at a time MANAGING DIRECTOR\u2019S INTERVIEW We acquired quality tenants, improved our occupancy rate to 97%, and maintained a low gearing level, indicating Lavastone Properties\u2019 resilient financial and operational standing. Dear Stakeholders, Considering the challenging market conditions that prevailed throughout the year, FY 2023 was a satisfactory [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","footnotes":""},"class_list":["post-327","page","type-page","status-publish","hentry","entry"],"_links":{"self":[{"href":"https:\/\/lavastone.mu\/annual-report-2023\/wp-json\/wp\/v2\/pages\/327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lavastone.mu\/annual-report-2023\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/lavastone.mu\/annual-report-2023\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/lavastone.mu\/annual-report-2023\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lavastone.mu\/annual-report-2023\/wp-json\/wp\/v2\/comments?post=327"}],"version-history":[{"count":355,"href":"https:\/\/lavastone.mu\/annual-report-2023\/wp-json\/wp\/v2\/pages\/327\/revisions"}],"predecessor-version":[{"id":2116,"href":"https:\/\/lavastone.mu\/annual-report-2023\/wp-json\/wp\/v2\/pages\/327\/revisions\/2116"}],"wp:attachment":[{"href":"https:\/\/lavastone.mu\/annual-report-2023\/wp-json\/wp\/v2\/media?parent=327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}