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climate control technology guarantees a pleasant temperature all year round. Everything is designed to make each visitor feel good and want to keep coming back. An ongoing modernisation and optimisation programme also ensures that our centers remain competitive and retain their value. It goes without saying that we design our properties to suit all generations and that every visitor should feel they are in good hands, no matter what their age. Thanks to wide malls, escala- tors and lifts, it is possible to explore every corner of the center without too much effort, even with a pushchair or wheelchair. There are play areas for our smallest visitors, where shoppers can enjoy some time out. Massage chairs are available for cus- tomers to use in the mall for a small fee, providing necessary relaxation as a break from shopping. SUSTAINABLE ENERGY SUPPLY We are particularly proud of the fact that all our German centers have been operating on green electricity since 2011. We are plan- ning to switch our foreign properties to energy from renewable sources over the next few years. It is also our goal to continu- ously reduce the overall energy consumption of our properties and in so doing to cut CO2 emissions. To achieve this aim, we are using ultramodern technologies, such as heat exchangers and environmentally friendly lighting systems. We are also working with our tenants to try to keep reducing energy consumption in the individual shops as well. FORWARD-LOOKING FLEXIBILITY Retail involves constant change. Particularly in recent years, it has been evident that many retailers are considerably expanding their premises, enabling them to convert the shop from purely a retail area into an experience arena. For instance, retailers are increasingly allowing customers to take the time to try out and experience the product at length before buying. A further trend is the tendency toward more in-depth consultations. The role these factors play is growing steadily, particularly in an age of increasing online shopping. We are able to provide customised solutions to meet the demand for ever more varied spaces: in our centers we can provide all tenants with the exact floor plan they need to realise their con- cepts. And we can even be flexible in the long term. It is possible to adapt virtually any retail space, making it bigger or smaller, without major effort or expense by shifting the internal walls. Reducing a larger retail space, for example, creates an opportu- nity to integrate a new concept into the shopping center. This is one of the main distinctions between our concept and the traditional shopping street with its rigid floor plans that have to be put up with the way they are. It is often the case that certain retailers wait until they have been offered space in a shopping center before entering the market in a city because of a lack of suitable spaces for them beforehand in the city centre. The whole of the retail sector in the city centre ultimately benefits from the resulting addition to the offering. 190 MILLION VISITORS IN ONE YEAR The catchment areas around our centers are home to nearly 17 million people, over 13 million of whom in Germany. This gives us access in theory to 16% of the German population. RETAIL INVOLVES CONSTANT CHANGE. PARTICULARLY IN RECENT YEARS, IT HAS BEEN EVIDENT THAT MANY RETAILERS ARE CONSIDERABLY EXPANDING THEIR PREMISES. 3 { 51 } DES ANNUAL REPORT 2012 THE CENTERS Portfolio

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