{"id":200,"date":"2025-12-30T12:54:41","date_gmt":"2025-12-30T12:54:41","guid":{"rendered":"https:\/\/lavastone.mu\/annual-report-2025\/?page_id=200"},"modified":"2026-01-19T10:09:31","modified_gmt":"2026-01-19T10:09:31","slug":"strategic-report","status":"publish","type":"page","link":"https:\/\/lavastone.mu\/annual-report-2025\/strategic-report\/","title":{"rendered":"Strategic Report"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"200\" class=\"elementor elementor-200\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-95c0656 e-con-full elementor-hidden-mobile e-flex e-con e-parent\" data-id=\"95c0656\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-bd998e5 e-con-full e-flex e-con e-child\" data-id=\"bd998e5\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e1eee6e elementor-widget elementor-widget-heading\" data-id=\"e1eee6e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Strategic <br>Report<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3519800 elementor-widget elementor-widget-heading\" data-id=\"3519800\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUR FRAMEWORK\nGIVES FORM\nTO VISION<\/h2>\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-b0240e8 e-con-full elementor-hidden-desktop elementor-hidden-tablet e-flex e-con e-parent\" data-id=\"b0240e8\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-9845091 e-con-full e-flex e-con e-child\" data-id=\"9845091\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ce3bb3c elementor-widget elementor-widget-heading\" data-id=\"ce3bb3c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Strategic Report<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-48bdfe3 elementor-widget-mobile__width-initial elementor-widget elementor-widget-heading\" data-id=\"48bdfe3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUR FRAMEWORK\nGIVES FORM\nTO VISION<\/h2>\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-183e075 e-con-full elementor-hidden-mobile e-flex e-con e-parent\" data-id=\"183e075\" 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;mobile&quot;],&quot;sticky_offset&quot;:0,&quot;sticky_effects_offset&quot;:0,&quot;sticky_anchor_link_offset&quot;:0}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8c9a1bd elementor-icon-list--layout-inline elementor-align-center elementor-mobile-align-center elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"8c9a1bd\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#OurValueCreationModel\">\n\n\t\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 xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/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\">Our Value Creation Model<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\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 elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#OurStrategy\">\n\n\t\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 xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/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\">Our Strategy<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\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 elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#DirectorsInterview\">\n\n\t\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 xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/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\">Directors Interview<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-70bf19d e-con-full elementor-hidden-desktop elementor-hidden-tablet e-flex e-con e-parent\" data-id=\"70bf19d\" 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;mobile&quot;],&quot;sticky_offset&quot;:0,&quot;sticky_effects_offset&quot;:0,&quot;sticky_anchor_link_offset&quot;:0}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1a75498 elementor-icon-list--layout-inline elementor-align-center elementor-mobile-align-start elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"1a75498\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#OurValueCreationModel\">\n\n\t\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 xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/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\">Our Value Creation Model<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\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 elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#OurStrategy\">\n\n\t\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 xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/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\">Our Strategy<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\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 elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#DirectorsInterview\">\n\n\t\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 xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/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\">Directors Interview<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cd2cd57 e-flex e-con-boxed e-con e-parent\" data-id=\"cd2cd57\" 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-9cf9bb7 elementor-widget elementor-widget-menu-anchor\" data-id=\"9cf9bb7\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"OurValueCreationModel\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ac94d71 e-con-full e-flex e-con e-child\" data-id=\"ac94d71\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2e33bcd elementor-widget elementor-widget-heading\" data-id=\"2e33bcd\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Our Value Creation Model<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e5f2c77 e-con-full e-flex e-con e-child\" data-id=\"e5f2c77\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e1bae34 elementor-widget elementor-widget-image\" data-id=\"e1bae34\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1129\" height=\"691\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/P24.svg\" class=\"attachment-full size-full wp-image-1136\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a0e80be elementor-widget elementor-widget-html\" data-id=\"a0e80be\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<!-- Mobile-Only Overlay -->\r\n<div class=\"svg-overlay\">\r\n    View in fullscreen\r\n    <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" fill=\"white\" viewBox=\"0 0 24 24\">\r\n        <path d=\"M15 3h6v6h-2V6.41l-5.29 5.3-1.42-1.42L17.59 5H15V3zM3 3h6v2H5.41l5.3 5.29-1.42 1.42L3 6.41V9H1V3h2zM21 15v6h-6v-2h2.59l-5.3-5.29 1.42-1.42L18.59 17H15v-2h6zM9 21H3v-6h2v2.59l5.29-5.3 1.42 1.42L6.41 18H9v3z\"\/>\r\n    <\/svg>\r\n<\/div>\r\n\r\n<style>\r\n\/* Hide overlay on desktop *\/\r\n.svg-overlay {\r\n    display: none;\r\n}\r\n\r\n\/* Mobile Only Overlay *\/\r\n@media (max-width: 767px) {\r\n    .svg-container {\r\n        position: relative;\r\n    }\r\n\r\n    .svg-overlay {\r\n        display: flex;\r\n        position: absolute;\r\n        inset: 0;\r\n        background: rgba(0,0,0,0.25);\r\n        justify-content: center;\r\n        align-items: center;\r\n        color: #fff;\r\n        font-size: 14px;\r\n        font-weight: 600;\r\n        cursor: pointer;\r\n        z-index: 10;\r\n        gap: 6px;\r\n        transition: background 0.3s;\r\n        border-radius: 8px;\r\n    }\r\n\r\n    .svg-overlay:hover {\r\n        background: rgba(0,0,0,0.35);\r\n    }\r\n\r\n    .svg-overlay svg {\r\n        width: 20px;\r\n        height: 20px;\r\n        fill: #fff;\r\n    }\r\n}\r\n<\/style>\r\n\r\n<script>\r\ndocument.addEventListener('DOMContentLoaded', function() {\r\n    const overlays = document.querySelectorAll('.svg-overlay');\r\n\r\n    overlays.forEach(overlay => {\r\n        overlay.addEventListener('click', function() {\r\n            const container = this.closest('.svg-container');\r\n            if (!container) return;\r\n\r\n            const svg = container.querySelector('svg');\r\n            if (!svg) return;\r\n\r\n            \/\/ Replace POPUP_ID with your Elementor popup ID\r\n            const popupId = 1235; \/\/ <-- Replace this\r\n            const popupSelector = `#elementor-popup-modal-${popupId} .popup-svg-container`;\r\n            const popupContainer = document.querySelector(popupSelector);\r\n            if (!popupContainer) return;\r\n\r\n            popupContainer.innerHTML = svg.outerHTML;\r\n\r\n            \/\/ Open Elementor popup\r\n            if (typeof elementorPro !== 'undefined') {\r\n                elementorPro.modules.popup.showPopup({id: popupId});\r\n            }\r\n        });\r\n    });\r\n});\r\n<\/script>\r\n\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-2199559 e-flex e-con-boxed e-con e-parent\" data-id=\"2199559\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-af066b3 e-con-full e-flex e-con e-child\" data-id=\"af066b3\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-de5bb72 elementor-widget elementor-widget-menu-anchor\" data-id=\"de5bb72\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"OurStrategy\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be6014d elementor-widget elementor-widget-heading\" data-id=\"be6014d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Our Strategy<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f63ec85 e-con-full e-flex e-con e-child\" data-id=\"f63ec85\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ce966b7 elementor-widget elementor-widget-heading\" data-id=\"ce966b7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">STRATEGIC INTENT &amp; VISION<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c1280c2 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"c1280c2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">To be the preferred partner for commercial real estate solutions, while delivering optimum returns to our shareholders.<\/h2>\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-8274c88 e-flex e-con-boxed e-con e-parent\" data-id=\"8274c88\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-e9a4842 e-con-full e-flex e-con e-child\" data-id=\"e9a4842\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ce5d095 elementor-widget elementor-widget-heading\" data-id=\"ce5d095\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Strategic Objectives<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a2c9cec e-con-full e-flex e-con e-child\" data-id=\"a2c9cec\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-f4de290 e-con-full e-flex e-con e-child\" data-id=\"f4de290\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-386d5ad e-con-full e-flex e-con e-child\" data-id=\"386d5ad\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-013d139 e-con-full e-flex e-con e-child\" data-id=\"013d139\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1e485c4 elementor-widget elementor-widget-heading\" data-id=\"1e485c4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Operational excellence<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-369d5e5 e-con-full e-flex e-con e-child\" data-id=\"369d5e5\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-643ff49 elementor-widget elementor-widget-image\" data-id=\"643ff49\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"46\" height=\"40\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/s-arrw.svg\" class=\"attachment-full size-full wp-image-1210\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ff09615 e-con-full e-flex e-con e-child\" data-id=\"ff09615\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-651a2df elementor-widget elementor-widget-heading\" data-id=\"651a2df\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Maintain a revenue\ngrowth of 5%<\/h2>\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-c689beb e-con-full e-flex e-con e-child\" data-id=\"c689beb\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-f92790b e-con-full e-flex e-con e-child\" data-id=\"f92790b\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e4ba57b e-con-full e-flex e-con e-child\" data-id=\"e4ba57b\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-204b0a7 elementor-widget elementor-widget-heading\" data-id=\"204b0a7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Customer service &amp;\nretention<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f2c4d46 e-con-full e-flex e-con e-child\" data-id=\"f2c4d46\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-98a71e9 elementor-widget elementor-widget-image\" data-id=\"98a71e9\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"46\" height=\"40\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/s-arrw.svg\" class=\"attachment-full size-full wp-image-1210\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9d8925e e-con-full e-flex e-con e-child\" data-id=\"9d8925e\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3d055c7 elementor-widget elementor-widget-heading\" data-id=\"3d055c7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Maintain at least 95%\noccupancy across the\nportfolio<\/h2>\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-8bf0885 e-con-full e-flex e-con e-child\" data-id=\"8bf0885\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-439305e e-con-full e-flex e-con e-child\" data-id=\"439305e\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-76ed457 e-con-full e-flex e-con e-child\" data-id=\"76ed457\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-eafc59b elementor-widget elementor-widget-heading\" data-id=\"eafc59b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Sustainability<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cb3d0aa e-con-full e-flex e-con e-child\" data-id=\"cb3d0aa\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e6f5898 elementor-widget elementor-widget-image\" data-id=\"e6f5898\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"46\" height=\"40\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/s-arrw.svg\" class=\"attachment-full size-full wp-image-1210\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fa9c49a e-con-full e-flex e-con e-child\" data-id=\"fa9c49a\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ccdc5ba elementor-widget elementor-widget-heading\" data-id=\"ccdc5ba\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Implement\ndevelopment projects\nin line with Green by\nDesign principles<\/h2>\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-704d4c8 e-con-full e-flex e-con e-child\" data-id=\"704d4c8\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-fdfa6e8 e-con-full e-flex e-con e-child\" data-id=\"fdfa6e8\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6562b1d e-con-full e-flex e-con e-child\" data-id=\"6562b1d\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ab70f66 elementor-widget elementor-widget-heading\" data-id=\"ab70f66\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Maximise\nshareholder value<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-795dab6 e-con-full e-flex e-con e-child\" data-id=\"795dab6\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-19196f9 elementor-widget elementor-widget-image\" data-id=\"19196f9\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"46\" height=\"40\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/s-arrw.svg\" class=\"attachment-full size-full wp-image-1210\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-58543e7 e-con-full e-flex e-con e-child\" data-id=\"58543e7\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c2df21 elementor-widget elementor-widget-heading\" data-id=\"4c2df21\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Explore new\ninvestment\nopportunities that\nrebalance our portfolio<\/h2>\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-462fe0a e-con-full e-flex e-con e-child\" data-id=\"462fe0a\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-dc5265a e-con-full e-flex e-con e-child\" data-id=\"dc5265a\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-af7ef76 e-con-full e-flex e-con e-child\" data-id=\"af7ef76\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5556e13 elementor-widget elementor-widget-heading\" data-id=\"5556e13\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Employee engagement<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f1188a1 e-con-full e-flex e-con e-child\" data-id=\"f1188a1\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-221ce70 elementor-widget elementor-widget-image\" data-id=\"221ce70\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"46\" height=\"40\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/s-arrw.svg\" class=\"attachment-full size-full wp-image-1210\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5a04c31 e-con-full e-flex e-con e-child\" data-id=\"5a04c31\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1191d8d elementor-widget elementor-widget-heading\" data-id=\"1191d8d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Maintain employee\nturnover below 5% and\nemployee satisfaction\nabove 85%\n<\/h2>\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\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ed79708 e-flex e-con-boxed e-con e-parent\" data-id=\"ed79708\" 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-8de991b elementor-widget elementor-widget-menu-anchor\" data-id=\"8de991b\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"DirectorsInterview\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b691d41 elementor-widget elementor-widget-heading\" data-id=\"b691d41\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Colin Taylor and Nicolas Vaudin reflect on a year defined by steady progress and strategic\nfocus \u2014 one that strengthened Lavastone Properties\u2019 portfolio and its readiness for the\nnext chapter<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-512cd11 e-con-full e-flex e-con e-child\" data-id=\"512cd11\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-aa85d2b e-con-full e-flex e-con e-child\" data-id=\"aa85d2b\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-81c23a0 elementor-widget elementor-widget-image\" data-id=\"81c23a0\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"596\" height=\"842\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/chairmain_int_2025.webp\" class=\"attachment-full size-full wp-image-404\" alt=\"\" srcset=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/chairmain_int_2025.webp 596w, https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/chairmain_int_2025-212x300.webp 212w\" sizes=\"(max-width: 596px) 100vw, 596px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4a9ab12 e-con-full e-flex e-con e-child\" data-id=\"4a9ab12\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7da95ca elementor-widget elementor-widget-text-editor\" data-id=\"7da95ca\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Q: Lavastone Properties delivered turnover and profit growth despite a challenging environment. What key factors drove this performance?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9cd6ee8 elementor-widget elementor-widget-text-editor\" data-id=\"9cd6ee8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>Colin:<\/b> Lavastone Properties delivered a stable performance during a year marked by macroeconomic headwinds. Revenue, excluding sale of land, rose by 5.4% and operating profit by 6.1%, despite rising labour costs, supply chain pressures, and delays in project approvals linked to the government transition. These conditions affected tenant activity and slowed the pace of new developments across the industry, yet also highlighted the value of disciplined capital allocation. We treated each challenge as an opportunity to strengthen the resilience of our portfolio and ensure our long-term strategic priorities remain on track.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7b15213 e-con-full e-flex e-con e-child\" data-id=\"7b15213\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c612e64 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"c612e64\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-363 alignleft\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2025\/12\/p29-1.svg\" alt=\"\" width=\"37\" height=\"27\" \/>\n<blockquote>In a tightening environment, maintaining strong tenant relationships was crucial. We adapted lease structures where necessary, responded quickly to tenant needs, and ensured our spaces remained vibrant and fully utilised.\n<img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-364 alignright\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2025\/12\/p29-2.svg\" alt=\"\" width=\"37\" height=\"27\" \/>\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-b23e8e5 elementor-widget elementor-widget-text-editor\" data-id=\"b23e8e5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>Nicolas:<\/b> The results really speak to the team\u2019s agility and deep understanding of the market. In a tightening environment, maintaining strong tenant relationships was crucial. We adapted lease structures where necessary, responded quickly to tenant needs, and ensured our spaces remained vibrant and fully utilised. We also pushed forward with our asset optimisation plan: completing targeted upgrades, securing new leases, and keeping our properties competitive. This approach allowed us to extract greater value from our portfolio, delivering a 98% occupancy rate even in a slower market, and positioning Lavastone Properties for the next phase of growth.<\/p>\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-8f20866 e-con-full e-flex e-con e-child\" data-id=\"8f20866\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-5bc7cdc e-con-full e-flex e-con e-child\" data-id=\"5bc7cdc\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-77cec93 elementor-widget elementor-widget-text-editor\" data-id=\"77cec93\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Q: What would you highlight as the past year\u2019s most significant strategic milestones for Lavastone Properties?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f7fc086 elementor-widget elementor-widget-text-editor\" data-id=\"f7fc086\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>Colin: <\/b>This year, the Board undertook a comprehensive strategic review of our entire portfolio, reassessing its composition and the market dynamics shaping our sector. The review confirmed the opportunity to rebalance our portfolio, lowering exposure to the office segment while redeploying capital into assets with stronger long-term potential. In line with this, we completed the sale of our land in Trianon and are awaiting final approvals to conclude the disposal of a small industrial property in Plaine Lauzun, expected in early FY26. Looking forward, the Board is developing a strategic roadmap through FY30 that places greater emphasis on geographical diversification &#8211; an important step in mitigating concentration risk and capturing selective opportunities beyond Mauritius.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ef228cd elementor-widget elementor-widget-text-editor\" data-id=\"ef228cd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>Nicolas:<\/b> While topline growth was modest, the year was strategically significant as we planted the seeds for the next investment cycle: refining our assets to remain competitive and aligned with tenant needs, while also advancing on our long-term pipeline. A highlight was the launch of the Montebello Industrial Park project, now fully designed and prelet, and set to break ground in the first quarter of FY26. Once complete, it will add a modern, mixed-use industrial offering to our portfolio, setting the stage for diversified income streams in the years ahead. We also made solid progress at Case Noyale\/La Gaulette, signing key tenants, including confirming Winners as the anchor tenant \u2014 a meaningful endorsement of the site\u2019s strong retail potential. Overall, this was a year of both consolidation and positioning &#8211; ensuring we have the right foundations, partnerships, and project pipeline that will deliver sustainable returns over time.<\/p>\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<div class=\"elementor-element elementor-element-54a04f2 e-flex e-con-boxed e-con e-parent\" data-id=\"54a04f2\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-83a23d6 e-con-full e-flex e-con e-child\" data-id=\"83a23d6\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-1c8bdff e-con-full e-flex e-con e-child\" data-id=\"1c8bdff\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2046ad7 elementor-widget elementor-widget-text-editor\" data-id=\"2046ad7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Q: In light of this performance, how did Lavastone Properties deliver value to its shareholders?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c50ecbf elementor-widget elementor-widget-text-editor\" data-id=\"c50ecbf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>Colin: <\/b>Disciplined capital allocation remains central to how we create value. Every disposal and acquisition decision is guided by a long-term view, ensuring that we strengthen our portfolio of yielding assets while maintaining the flexibility to reinvest strategically. This approach enabled us to distribute Rs 54.4 million in dividends to shareholders this year, while preserving the financial capacity needed to fund our next cycle of growth.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0c9c7af elementor-widget elementor-widget-text-editor\" data-id=\"0c9c7af\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Q: Could you share some of the operational highlights that drove performance?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-99b188e elementor-widget elementor-widget-text-editor\" data-id=\"99b188e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>Nicolas:<\/b> This year, our operational focus was squarely on strengthening the resilience and long-term value of our assets. By keeping administrative and operating costs at 37% of revenue, we maintained efficiency, while investing in initiatives that directly enhance tenant experience and asset appeal.<\/p><p>Tenant-focused renovations continued across the portfolio, always in close collaboration with our tenants, ensuring that our spaces remain attractive, functional and aligned with their needs. Notable projects included ongoing upgrades for IQ-EQ at Les Cascades Building, improvements to public areas at EDITH, and the revamping of the conference and events venue at La Galerie du G\u00e9nie, which is already generating a strong pipeline of bookings and reinforcing the site\u2019s positioning as a multifunctional hub.<\/p><p>In hospitality, C Rodrigues Mourouk continued to perform strongly, with Constance Hotel and Resorts\u2019 expertise and brand support contributing significantly to its success. The hotel expansion is progressing as planned, while the future extension of Rodrigues\u2019 airport &#8211; featuring a new 2.1 km runway and upgraded facilities &#8211; is expected to facilitate both passenger and cargo transport, boost air connectivity and drive tourism growth, creating a positive backdrop for our operations.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1b4ebd5 elementor-widget elementor-widget-text-editor\" data-id=\"1b4ebd5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Q: Environmental performance remains a strategic focus for Lavastone Properties. What progress have you made in advancing decarbonisation and sustainable operations?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b4a9f65 elementor-widget elementor-widget-text-editor\" data-id=\"b4a9f65\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h6><b>Colin:<\/b> Decarbonisation continues to be a strategic priority for the Group, both in how we consume resources and how we produce renewable energy. We have submitted applications to the Central Electricity Board for two photovoltaic (PV) farms at Case Noyale, which together are expected to generate around 2 MW of renewable energy<\/h6>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-69d640e e-con-full e-flex e-con e-child\" data-id=\"69d640e\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-09c8513 elementor-widget elementor-widget-text-editor\" data-id=\"09c8513\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>This project, currently under grid assessment by the CEB, represents both a contribution to Mauritius\u2019s clean energy transition and a means to strengthen the sustainability of our portfolio.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-483c540 e-con-full e-flex e-con e-child\" data-id=\"483c540\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a661da0 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"a661da0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-363 alignleft\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2025\/12\/p29-1.svg\" alt=\"\" width=\"37\" height=\"27\" \/>\n<blockquote>Our built environment is equally critical to our sustainability journey. Buildings account for a substantial share of our energy use, so enhancing their efficiency has a direct and lasting impact on our carbon footprint.\n<img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-364 alignright\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2025\/12\/p29-2.svg\" alt=\"\" width=\"37\" height=\"27\" \/>\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-4688c9b elementor-widget elementor-widget-text-editor\" data-id=\"4688c9b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Our built environment is equally critical to our sustainability journey. Buildings account for a substantial share of our energy use, so enhancing their efficiency has a direct and lasting impact on our carbon footprint.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7eafed8 elementor-widget elementor-widget-text-editor\" data-id=\"7eafed8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>Nicolas:<\/b> We took tangible steps on that front during the year. What has been particularly encouraging is the alignment we are seeing across tenants and partners; there is now a shared understanding that sustainable buildings are not only better for the planet, but also more comfortable, efficient, and healthier spaces to work in.<\/p><p>We completed LEED gap analyses for our key properties, revealing priority areas for upgrades: reviewing the HVAC system at Absa House and enhancing fresh air circulation at Les Cascades Building. We are also supporting Cim Finance in the LEED certification process of Cim House, with data collection currently underway. By this time next year, we expect Cim House and Les Cascades Building to be well advanced in their certification journeys. Meanwhile, EDITH is preparing for recertification, working to uphold its LEED Gold (O+M) status which is expected to be obtained in December 2025.<\/p><p>LEED principles are also being embedded for all new developments from the outset, including at La Gaulette\/Case Noyale and Montebello. Having anchor tenants like Winners, who lead in sustainability in their sector, will also reinforce high environmental standards across our portfolio.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-072f210 elementor-widget elementor-widget-text-editor\" data-id=\"072f210\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Alongside these initiatives, we are strengthening everyday environmental practices, from improved recycling and composting, to the installation of smart meters. (More information in our ESG report on page 48).<\/p>\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<div class=\"elementor-element elementor-element-48b18ec e-flex e-con-boxed e-con e-parent\" data-id=\"48b18ec\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-ca7088e e-con-full e-flex e-con e-child\" data-id=\"ca7088e\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-fe83faf e-con-full e-flex e-con e-child\" data-id=\"fe83faf\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1726324 elementor-widget elementor-widget-text-editor\" data-id=\"1726324\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Q: How is the Group investing in its people to support long-term growth?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-37bb07b elementor-widget elementor-widget-text-editor\" data-id=\"37bb07b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>Nicolas:<\/b> Our people are at the heart of what we do. Our approach is to invest selectively but meaningfully, giving our people the tools, development opportunities, and support they need to deliver operational excellence and enhance tenant services. Over the past year, we undertook a thorough assessment of our teams, collaborating with Taylor Smith to review performance, training gaps, and succession planning. This exercise helped us identify where to upskill, streamline processes, and digitise workflows.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ff3825a e-con-full e-flex e-con e-child\" data-id=\"ff3825a\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-8be60f2 e-con-full e-flex e-con e-child\" data-id=\"8be60f2\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-48abd64 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"48abd64\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-363 alignleft\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2025\/12\/p29-1.svg\" alt=\"\" width=\"37\" height=\"27\" \/>\n<blockquote>Our people are at the heart of what we do. Our approach is to invest selectively but meaningfully, giving our people the tools, development opportunities, and support they need to deliver operational excellence and enhance tenant service.\n<img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-364 alignright\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2025\/12\/p29-2.svg\" alt=\"\" width=\"37\" height=\"27\" \/>\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<div class=\"elementor-element elementor-element-3dfe47e elementor-widget elementor-widget-text-editor\" data-id=\"3dfe47e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>As the next step, we are rolling out a new performance management framework to strengthen employee engagement and accountability, while implementing succession plans for critical roles to secure continuity and readiness for key positions.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ccfb290 e-con-full e-flex e-con e-child\" data-id=\"ccfb290\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4d3bd4b elementor-widget elementor-widget-text-editor\" data-id=\"4d3bd4b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Q: What are the Group\u2019s key priorities for the next 12 months?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3030fc5 elementor-widget elementor-widget-text-editor\" data-id=\"3030fc5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>Colin: <\/b>FY26 presents both opportunities and challenges. We are carefully monitoring the potential impact of the 2025\/26 Budget measures on our operations, particularly the Fair Share Contribution and Minimum Alternative Tax, while keeping our focus firmly on maintaining strong, high-quality assets and strategically diversifying the portfolio. As mentioned earlier, the Management\u2019s directive will be to explore selective expansion opportunities, targeting around 10% of our portfolio outside Mauritius over the medium to long term.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0c53333 elementor-widget elementor-widget-text-editor\" data-id=\"0c53333\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>Nicolas:<\/b> FY26 is shaping up to be a dynamic year, with clear delivery priorities. These include initiating construction at La Gaulette\/Case Noyale and completing the Winners fit-out, breaking ground on our new industrial building at Montebello, finalising the acquisition of an industrial property at Coromandel which we will redevelop, and advancing the C Rodrigues Mourouk Hotel extension, contingent on progress in Rodrigues\u2019 infrastructure and airlift capacity. These projects will be executed hand-inhand with our tenants, ensuring that sustainability, resilience, and long-term value remain at the core of every initiative.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-adf5990 elementor-widget elementor-widget-text-editor\" data-id=\"adf5990\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Q: What final message would you like to share with Lavastone Properties stakeholders?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-76606c1 elementor-widget elementor-widget-text-editor\" data-id=\"76606c1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>Colin: <\/b>I would like to thank the Board for its guidance and the management team, led by Nicolas the Managing Director and Alex the Head of Finance, for their continued dedication. Our focus remains on creating long-term value &#8211; responsibly, transparently, and sustainably &#8211; so that Lavastone Properties continues to deliver positive outcomes for all who place their trust in us.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-45355a6 elementor-widget elementor-widget-text-editor\" data-id=\"45355a6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><b>Nicolas: <\/b>My sincere thanks go to our people, tenants, and partners for their unwavering support. It is through their commitment and shared sense of purpose that we continue to grow stronger as an organisation. Together, we are building a Lavastone Properties that not only performs well while also contributes positively to its communities and environment.<\/p>\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>Strategic Report OUR FRAMEWORK GIVES FORM TO VISION Strategic Report OUR FRAMEWORK GIVES FORM TO VISION Our Value Creation Model Our Strategy Directors Interview Our Value Creation Model Our Strategy Directors Interview Our Value Creation Model View in fullscreen Our Strategy STRATEGIC INTENT &amp; VISION To be the preferred partner for commercial real estate solutions, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-200","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/pages\/200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/comments?post=200"}],"version-history":[{"count":121,"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/pages\/200\/revisions"}],"predecessor-version":[{"id":2353,"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/pages\/200\/revisions\/2353"}],"wp:attachment":[{"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/media?parent=200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}