FORM 20-F/A Brookfield Property Partners L.P. - Brookfield Asset ...

Risks Relating to Our BusinessOur economic performance and the value of our assets are subject to the risks incidental to the ownership andoperation of real estate assets.Our economic performance, the value of our assets and, therefore, the value of our units are subject to therisks normally associated with the ownership and operation of real estate assets, including but not limited to:• downturns and trends in the national, regional and local economic conditions where our propertiesand other assets are located;• the cyclical nature of the real estate industry;• local real estate market conditions, such as an oversupply of commercial properties, includingspace available by sublease, or a reduction in demand for such properties;• changes in interest rates and the availability of financing;• competition from other properties;• changes in market rental rates and our ability to rent space on favorable terms;• the bankruptcy, insolvency, credit deterioration or other default of our tenants;• the need to periodically renovate, repair and re-lease space and the costs thereof;• increases in maintenance, insurance and operating costs;• civil disturbances, earthquakes and other natural disasters, or terrorist acts or acts of war which mayresult in uninsured or underinsured losses;• the decrease in the attractiveness of our properties to tenants;• the decrease in the underlying value of our properties; and• certain significant expenditures, including property taxes, maintenance costs, mortgage payments,insurance costs and related charges that must be made regardless of whether a property is producingsufficient income to service these expenses.We are dependent upon the economic conditions of the markets where our assets are located.We are affected by local, regional, national and international economic conditions and other events andoccurrences that affect the markets in which we own assets. A protracted decline in economic conditions willcause downward pressure on our operating margins and asset values as a result of lower demand for space.Substantially all of our properties are located in North America, Europe, Australia and Brazil. Aprolonged downturn in one or more of these economies or the economy of any other country where we ownproperty would result in reduced demand for space and number of prospective tenants and will affect the abilityof our properties to generate significant revenue. If there is an increase in operating costs resulting from inflationand other factors, we may not be able to offset such increases by increasing rents.10