The French-Dutch retail combine Unibail-Rodamco has put two of its Dutch shopping malls, Stadshart Amstelveen and Stadshart Zoetermeer, up for sale, the Telegraaf  reported on Monday, based on a report by Bloomberg. The sale is expected to realise about €550m.

Unibail-Rodamco has called on US-based property giant Cushman & Wakefield to handle the transaction. Neither party was available for comment.

Stadshart Amstelveen has 130 shops and nine million visitors a year. Zoetermeer has 107 shops and an annual 10 million visitors.

Unibail has been divesting its less prestigious holdings in order to invest in projects in top locations which are better suited to meet competition from web shops.  The French company plans to retain only its Almere and Leidschenhage shopping malls in the Netherlands.

Unibail is investing €500m to build what it claims will be the country’s most modern shopping centre, Mall of the Netherlands, in Leidschenhage, near The Hague.