1、STABILITY AND GROWTH THROUGH DISCIPLINE2006 ANNUAL REPORTOn the front cover is an architecturalrendering of The Bow EncanaCorporations new 1.9 million squarefoot head office in downtown Calgary;H&R is developing the$1.3-billionmixed-use complex for expectedcompletion in 2011.STABILITY AND GROWTH THR
2、OUGH DISCIPLINE2006 ANNUAL REPORTOn the front cover is an architecturalrendering of The Bow EncanaCorporations new 1.9 million squarefoot head office in downtown Calgary;H&R is developing the$1.3-billionmixed-use complex for expectedcompletion in 2011.Architectural rendering of the view from one of
3、The Bows three“sky gardens”;the 59-storey,Class AAA office tower will be the tallest building in westernCanada,and involves the single largest lease in Canadian history.H&R will have a cluster of three prominent office towers comprising 3.5 millionsquare feet to offer space to prospective tenants in
4、 Calgary,one of Canadas fastestgrowing metropolitan areas.The Bow1.9 million square feetTelus Tower705,000 square feetTransCanada Tower936,000 square feetArchitectural rendering of Phase III(in the foreground)of H&Rs Bell Mobility Complex in Mississauga,Ontario;the$120-million expansion of 325,000 s
5、quare feet will bring the total leasable area of the property to1.1-million square feet upon completion.ProfileIncorporated in 1996,H&R Real EstateInvestment Trust owns,manages and acquiresincome-producing properties,and providesmezzanine financing for development projects thatare substantially pre-
6、leased.A significant portion ofH&Rs cash is distributed to unitholderseach monthand much of it is tax deferred.H&R manages adiversified portfolio of office,industrial and retailproperties under the direction of a Board ofTrustees,and investment opportunities are subject tospecific guidelines and app