Despite the increasing Europeanisation of the retail market there are still considerable variations between different countries and regions in Europe. Local knowledge, expertise and contacts are essential to operate successfully in the retail real estate market. Corio has therefore local organizations in the countries in which it is present, who maintain important contacts for acquisition and exploitation. Local knowledge, expertise and contacts are of vital importance in keeping shopping centres dominant in their catchment areas. Where possible regarding efficiency and effectiveness, the shopping centres in the core countries are managed by Corio's own local centre management teams and the lettings are carried out by Corio's own letting management. This provides our shoppers, tenants and centres, and hence our shareholders, added value in several respects. Contacts with local authorities and relevant bodies are important and local wishes and requirements can be responded to directly. As a result, shoppers continue to visit and buy, demand from tenants for space in the centres remains high and vacancy minimal.

There is healthy competition between the local organizations for the capital resources available for acquisition. Together the managers and specialists in the organization strive to achieve more than the sum of the parts while retaining central checks and balances.

Corio has six local organisations: Corio Nederland, Corio France, Corio Italia, Corio España, Corio Türkiye and Corio Deutschland. They are responsible for the daily management of Corio's real estate portfolio. Corio N.V. (the Management Board and its general staff) retains the checks and balances. The general staff reports directly to the Management Board of Corio N.V.