2017 is already the sixth consecutive year in which HPP is organising its HPP Investor Dinner during the Expo Real in Munich, a year that has already seen many developments taking place on the world stage and that has brought considerable change to our sector, both on an European and a national scale. It is with great pleasure that we invite you to join the board of HPP for this annual dinner event. We also invited the Bavarian Minister for European Affairs and Development, Mrs Beate Merk to share her vision on current European developments from a German perspective. Her presence is not yet confirmed. We have also asked Mr Born Niehuss, Global Head of Tenant Relationship Management at DEKA Immobiliën, to share with us the DEKA strategy and to give us his assessment of global developments on the real estate market in general, and on the European market in particular.