URW's strategy and business model are designed to be responsive and adaptable to the topics identified as material for URW. The Group continuously monitors and evaluates performance in relation to these impacts and risks and seizes opportunities that align with its strategic objectives.

The Better Places roadmap ensures that URW’s strategy and business model are resilient and sustainable, capable of delivering value to its stakeholders while mitigating potential risks. The comprehensiveness and proactive nature of URW’s approach enhances its competitiveness and contributes to long-term value creation.

URW operates a complex value chain that spans across retail (Shopping Centres), mixed-use assets (Offices), and Convention & Exhibition centres (Viparis). URW's upstream value chain gathers all supply chain players supporting activities of development and management of standing assets. These players include, by order of importance, services, construction and maintenance, utilities and marketing partners. These suppliers are crucial for URW to develop and maintain the quality and the long-term success of its portfolio.

URW's downstream value chain activities are focused on the use of its assets. The key actors are tenants as well as visitors and customers. URW’s tenants, which include a diverse range of hundreds of retailers and brands from very different sectors, lease space in URW’s shopping centres and offices. Visitors and customers are the end-users of these spaces, and their engagement is critical for the retention of tenants and the success of URW’s assets.

URW is positioned as a developer, owner and operator in its value chain. This position allows URW to control various aspects of its portfolio, from the acquisition and development of new assets to the operation, expansion and management of standing assets.

URW maintains close relationships with its stakeholders, which include the value chain players mentioned above as well as URW’s workforce, financial partners, associations, local communities and public authorities. The workforce and employee representatives are integral to URW’s operations and contribute to the Company’s success. Local communities are also key stakeholders as they are integrated in the direct environment of URW’s assets. Public authorities, such as elected officials and administration, professional federations and regulatory bodies, play a crucial role in the regulatory environment in which URW operates. Financial partners, such as investors and banks, provide the necessary capital for URW to acquire, develop and manage its assets.

In essence, URW’s value chain is a complex ecosystem of various business actors and stakeholders, each playing a crucial role in the Company’s operations. By effectively managing its value chain, URW is able to deliver sustainable, high-quality real estate assets that meet the needs of its stakeholders and contribute to the vitality and sustainability of local communities.

URW's upstream value chain gathers all supply chain players supporting activities of development and management of standing assets. These players include, by order of importance, services, construction and maintenance, utilities and marketing partners. These suppliers are crucial for URW to develop and maintain the quality and the long-term success of its portfolio.

URW's downstream value chain activities are focused on the use of its assets. The key actors are tenants as well as visitors and customers. URW’s tenants, which include a diverse range of hundreds of retailers and brands from very different sectors, lease space in URW’s shopping centres and offices. Visitors and customers are the end-users of these spaces, and their engagement is critical for the retention of tenants and the success of URW’s assets.

URW maintains close relationships with its stakeholders, which include the value chain players mentioned above as well as URW’s workforce, financial partners, associations, local communities and public authorities. The workforce and employee representatives are integral to URW’s operations and contribute to the Company’s success. Local communities are also key stakeholders as they are integrated in the direct environment of URW’s assets. Public authorities, such as elected officials and administration, professional federations and regulatory bodies, play a crucial role in the regulatory environment in which URW operates. Financial partners, such as investors and banks, provide the necessary capital for URW to acquire, develop and manage its assets.

In essence, URW’s value chain is a complex ecosystem of various business actors and stakeholders, each playing a crucial role in the Company’s operations. By effectively managing its value chain, URW is able to deliver sustainable, high-quality real estate assets that meet the needs of its stakeholders and contribute to the vitality and sustainability of local communities.

URW operates a complex value chain that spans across retail (Shopping Centres), mixed-use assets (Offices), and Convention & Exhibition centres (Viparis). URW's upstream value chain gathers all supply chain players supporting activities of development and management of standing assets. These players include, by order of importance, services, construction and maintenance, utilities and marketing partners. These suppliers are crucial for URW to develop and maintain the quality and the long-term success of its portfolio.

URW's downstream value chain activities are focused on the use of its assets. The key actors are tenants as well as visitors and customers. URW’s tenants, which include a diverse range of hundreds of retailers and brands from very different sectors, lease space in URW’s shopping centres and offices. Visitors and customers are the end-users of these spaces, and their engagement is critical for the retention of tenants and the success of URW’s assets.

URW is positioned as a developer, owner and operator in its value chain. This position allows URW to control various aspects of its portfolio, from the acquisition and development of new assets to the operation, expansion and management of standing assets.

URW maintains close relationships with its stakeholders, which include the value chain players mentioned above as well as URW’s workforce, financial partners, associations, local communities and public authorities. The workforce and employee representatives are integral to URW’s operations and contribute to the Company’s success. Local communities are also key stakeholders as they are integrated in the direct environment of URW’s assets. Public authorities, such as elected officials and administration, professional federations and regulatory bodies, play a crucial role in the regulatory environment in which URW operates. Financial partners, such as investors and banks, provide the necessary capital for URW to acquire, develop and manage its assets.

In essence, URW’s value chain is a complex ecosystem of various business actors and stakeholders, each playing a crucial role in the Company’s operations. By effectively managing its value chain, URW is able to deliver sustainable, high-quality real estate assets that meet the needs of its stakeholders and contribute to the vitality and sustainability of local communities.

URW regularly engages with stakeholders from the entire value chain to incorporate their interests and views into the sustainability roadmap. The dialogue with the stakeholders takes various formats such as interviews, satisfactions surveys, meetings and roadshows. The stakeholders’ points of view are integrated in the double materiality assessment and (particularly the impact materiality) presented to the AC. The Group’s stakeholders dialogue is described in the table below.

The key stakeholders identified by URW include workforce (employees, employee representatives), visitors and customers, tenants, suppliers (project managers, technical engineers, construction work companies), financial partners (investors, banks), local communities (local residents, workers, associations), and public authorities (elected officials and administration, professional federations, regulatory bodies).

The categories of stakeholders with whom engagement occurs include workforce, visitors, tenants, suppliers, financial partners, local communities, and public authorities.

URW engages with stakeholders through various methods such as yearly well-being at work surveys, customer satisfaction surveys, tenant satisfaction surveys, discussions around tenders and contracts, meetings with investors, community consultations, and policy engagement and compliance rules discussions. Each stakeholder group has specific engagement activities tailored to their interests and expectations.

The purpose of URW's stakeholder engagement activities is to incorporate stakeholders' interests and views into the sustainability roadmap. This includes improving operational efficiency, project management, financial performance, community consultation, and policy engagement. These activities aim to address stakeholders' expectations such as well-being, sustainability initiatives, operational efficiency, and financial stability.