Retail Estates NV is a Belgian public regulated real estate company (RREC), functioning as a Belgian REIT, specialized in out-of-town retail properties located on the periphery of residential areas or along main access roads to urban centers in Belgium and the Netherlands. Its primary purpose is to acquire properties from third parties, develop and commercialize retail buildings for its own account, and manage a diversified portfolio that ensures steady, long-term growth through strategic location, quality assets, and varied tenants. Typical retail buildings average 1,000 m² in Belgium and 1,500 m² in the Netherlands, with the portfolio comprising over 1,000 rental units totaling more than 1.2 million m² of retail space, maintaining high occupancy rates above 97% and fair values exceeding €2 billion as of mid-2025. Founded in 1988 and headquartered in Ternat, Belgium, Retail Estates NV plays a significant role in the retail real estate sector by focusing on peripheral 'clusters' that enhance management efficiency and portfolio value, benefiting from a favorable tax regime that supports substantial distributions to shareholders. With a lean team of around 43 employees and internal management, it emphasizes risk diversification and operational results in line with regulatory standards.