URW operates in 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.