Van Rossum: European retail is on the road to recovery

Unibail-Rodamco SE, Europe's largest listed property group, survived the recession fairly well, reports Peter van Rossum, the company's chief financial officer. Retailers' turnover decreased last year just less than 2% across its portfolio, which is better than many expected considering its large exposure to retail centers, he says. The market's recovery also helps with the firm's new approach to acquisitions and dispositions. "Liquidity is coming back and there is good demand for good quality assets," he says. "What we're selling is not necessarily bad quality, but in terms of size it doesn't fit in with the mall we are pursuing."

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