We are writing to give you an update on the progress of 88 Kensington. We are happy to advise that the construction of 88 Kensington is well under way and the builders are now moving along quickly with the external structure of the building. The builders, TQM have excavated the basement and are now up to the second level in construction on the northern side. The project manager estimates completion of the project will be late this year and settlement of the apartment soon after. We will update you again in 3 months time and keep you informed of the progress.