Property investment group Wereldhave reported vacancies at its retail shopping malls in the Netherlands fell by 3% in the first half of 2018 year-on-year. Rental income rose by 1% in the same period, the Financieele Dagblad reported on Wednesday.

However, the valuation of Wereldhave’s Dutch retail shopping malls fell sharply by more than €25m in the period. The valuations are based on forecast income and recent transactions in the market, the paper said.

‘More than 80% of the €1.5bn we have invested in Dutch malls is performing well,’ said Wereldhave CEO Dirk Anbeek. He admitted that four partly-owned shopping centres were not faring as well. They may be up for sale in the future.

Wereldhave now plans to make the shopping malls less dependent upon retailers to take account of the rise in internet shopping. The company wants to give the malls other functions by adding apartments on higher levels and by bringing in restaurants, medical services, child care, offices and even a library.

Earlier this year, Wereldhave said it would cut its dividend by 18% in order to step up investments.