Strategy and Business model

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Tuesday 28 September 2021

Our long-term strategy, which is articulated around our portfolio strategy, our ESG strategy and our financial strategy aims at building a sustainable and resilient business for all our stakeholders.

Portfolio Strategy

Portfolio management

ESG strategy

Financial Strategy

Portfolio Strategy

Four wealthy European markets

Eurocommercial is one of Europe’s most experienced owners and managers of retail property with a portfolio of around €4bn comprising 26 prime assets in Belgium, France, Italy and Sweden. Market characteristics in these countries include: sound economic fundamentals, an established institutional property market, a broad retail tenant base, transparency including tenant sales data and a reliable planning and legal framework.

Current portfolio

  • Five “flagship” assets representing about half the portfolio by value:
  • Woluwe Shopping, Brussels
  • Passage du Havre, Paris
  • Carosello, Milan
  • Fiordaliso, Milan
  • I Gigli, Florence
  • These “flagships” are all established regional shopping centres in their city catchments and important destinations for an international tenant base and the most important national brands.
  • The remainder of the portfolio are predominantly suburban shopping centres with more than half of their floor space dedicated to everyday and essential retail.
  • Well-located in important provincial cities and dominant in their wealthy primary catchments.
  • Strong representation of national and regional tenants in most sectors including a broad range of services and amenities.

Research-led property investment

Eurocommercial employs a rigorous, research-led approach to its property selection.

  • In-house economic and research teams conduct detailed catchment studies concentrating on their demographic and economic profile.
  • Analysis of current and future provision of retail floorspace and competition to check that retail density is and will remain at appropriate levels.
  • Rents are carefully reviewed to verify that occupancy cost ratios (OCR) are at correct levels to underwrite long-term, sustainable rental income.



Portfolio management

  • Asset management teams ensure that our shopping centres remain fresh, modern and relevant with regular refurbishments and tenant rotation to increase footfall and add value.
  • Implement extensions to generate enhanced returns and strengthen the shopping centre’s market position.
  • Leasing teams constantly liaise with the most important international, national and local retail groups and respond to changing tenant demand and new concepts.
  • Research and marketing teams measure and analyse customer and tenant experience.
  • Regular surveys are a reliable tool to adjust tenant mix, improve marketing and enhance the environment in the shopping centre.

ESG strategy

Eurocommercial’s ESG and business strategies are carefully aligned and each business decision is approached with a long-term view supported by detailed research in order to evaluate its environmental and socio-economic impact. A broad ESG vision and strategy ensures that global challenges are met together with future demands from customers, tenants and employees. This approach is articulated around three strategic pillars: Be green, Be engaged, Be responsible.

Be green

  • The opportunity to make changes to significantly reduce both carbon imprint and operational costs.
  • Improve the environmental quality of our shopping centres by implementing standards and technologies to increase energy and water efficiency and waste recycling.

Be engaged

  • Engaging with tenants, customers and local communities to ensure that shopping centres evolve with the changing retail landscape.
  • Our shopping centres form an integral part of their local communities, enhancing social and environmental values.

Be responsible

  • Creating a workplace where our employees can thrive and develop professionally by providing a broad corporate and property experience supported by carefully targeted training programmes.
  • A diverse and collegiate culture sharing best practices to achieve common goals.

Awards and external recognitions

  • Awarded the EPRA Gold Award for sustainability reporting for a seventh consecutive year.
  • Achieved the highest ever score of 83 in the 2020 GRESB Assessment.
  • Maintained Green Star status for the fifth consecutive year, receiving four GRESB stars in 2020.



Financial Strategy

  • Eurocommercial’s loan portfolio is primarily composed of mortgage loans secured against individual or groups of assets ensuring the necessary financing flexibility needed for proactive management.
  • Long-term financing contracts with a diverse range of banks with whom we have strong and long-standing lending relationships.
  • The majority of debt is fixed or hedged.
  • Committed to reduce loan to value ratio to below 40% in due course.

Latest news

Latest news

08/09/2021

Zara Home reopens with a new look in Woluwe

In early August, Zara Home reopened in Woluwe shopping centre with a brand new

Find out more

Latest news

07/09/2021

Ikea opens its small-format concept store at Ingelsta Shop...

We are pleased to announce that Ikea had a successful opening last week with its s...

Find out more

Latest news

02/09/2021

Les Portes de Taverny celebrates Mexican holiday

Last week-end, Les Portes de Taverny organised a drive-in cinema in the car park o...

Find out more

Latest news

09/08/2021

Zara Home reopens with a new look in Woluwe

In early August, Zara Home reopened in Woluwe shopping centre with a brand new

Find out more

Latest news

09/07/2021

Ikea opens its small-format concept store at Ingelsta Shop...

We are pleased to announce that Ikea had a successful opening last week with its s...

Find out more

Latest news

09/02/2021

Les Portes de Taverny celebrates Mexican holiday

Last week-end, Les Portes de Taverny organised a drive-in cinema in the car park o...

Find out more

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