Tenants
For many years, Corio has operated its shopping centres on the basis of its in-house formula, which combines a hands-on approach with detailed knowledge of the catchment areas and visitors. Corio values good relationships with its tenants. Understanding each other is a requirement for doing business, and getting to know the tenant is the first step in the process. Discussions with tenants can give insight into a tenants ambitions and the specific challenges/threats and opportunities that he/she is facing. Corio helps entrepreneurs to establish what they want and then to identify solutions that benefit both parties. The centre management is responsible for maintaining close relationships with the tenants.
Corio works with and on behalf of its tenants on issues relating to security and on promotional and marketing activities in and around the shopping centres. These activities include advising tenants on how best to respond to clients’ needs (for example, by conducting consumer satisfaction surveys and sharing results) or on joint CSR policies as a means of cutting operating costs. Another possibility is to arrange joint purchasing of a range of services (on top of the customary package of service charges), with Corio acting as an intermediary. It is only if all relevant stakeholders work together that a shopping centre can be more than the sum of its individual stores.
Source: Annual Report 2008, Chapter Corporate_Social_Responsibility, page 138 (PDF, 160 kB)
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