Traditional city centers are the most dominant retail locations in the Netherlands, thanks to path-dependent processes and strict regulations from local government. Consequently, there are hardly any large shopping malls on the outskirts of larger cities in the Netherlands, unlike many cities in other European countries. People in the Netherlands derive a higher experiential value from shopping in historical city centers than from shopping at malls. The vacancy levels for retail real estate are lowest at prime locations within Dutch city centers, where availability is limited. IEF Capital owns many high-quality retail properties, which are spread across high streets in the hearts of historic Dutch cities. Its real estate portfolio includes around 60 branches of HEMA, which are an excellent example of high street properties at the best city center locations in the Netherlands.