During the year under review, the focus on retail increased still further. The share of retail in the overall portfolio rose again to 92% (2007: 83%) through the disposal of the Dutch offices and industrial portfolio and the addition of a number of dominant centres or outlets in dominant centres.
By the end of 2008, the property portfolio was spread more evenly over the home markets: the Netherlands 33% (2007: 42%), France 34% (27%), Italy 19% (17%), Spain 8% (8%) and Turkey 6% (6%).
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The revaluation of the operating portfolio in 2008 amounted to -5.4% in comparison with the value at year-end 2008 before revaluation.
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Projects in the variable pipeline are specific acquisition projects or projects in the existing portfolio that have potential for development or redevelopment, but have not reached the same stage of compliance with the above criteria...
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