Belgium

Wereldhave Belgium is a listed property company in which Wereldhave N.V. holds nearly 70% of the issued shares. Wereldhave Belgium focuses on dominant shopping centres. The portfolio consists of shopping centres in Liege, Nivelles and Tournai, office buildings in Antwerp and Brussels  and a development portfolio. The development portfolio consists of extensions in Nivelles and Tournai and the redevelopment of shopping centres in Genk and Waterloo.

With a 2.0% economic growth, the Belgian economy performed relatively well in 2011. Long lasting negotiations to form a new government delayed necessary budget changes and consumer purchasing power remained largely intact. Corporate investments rebounded strongly. Unemployment declined and remains markedly better than in the Euro zone as a whole. Towards the end of the year the economy decelerated, mainly as a result of slowing world trade.

The uncertain economic situation, unusual weather conditions and high petrol prices negatively affected consumer confidence and shopping centre footfall. In the retail property markets, demand for prime space remains high as four out of five retailers are looking for expansion. Vacancy is almost absent in prime locations. Top shopping centre rents are roughly stable. The construction pipeline is limited in the short term, but from 2013 the number of shopping centre openings is expected to rise again. This includes some very large schemes which are mainly located in Brussels and the Walloon region. Prime shopping centre yields remain unchanged at just below 6%.

Comm. V.A. Wereldhave Belgium S.C.A.
Medialaan 30
B-1800 Vilvoorde
Belgium
T:   +32 (0)2 732 19 00
F:   +32 (0)2 732 21 80
www.wereldhavebelgium.com

L. Plasman (Managing Director)
F. Adriaensen (Director Developments)
E. de Landtsheer (Financial Director)

Leasing information:
Retail: E. Duchi (Leasing Director)
Offices: R. Moretus (Commercial Manager Offices)