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    <label xlink:label="label_urwse_urwseAmountsDueToSuppliersAndOtherCreditors_Standard" id="urwse_urwseAmountsDueToSuppliersAndOtherCreditors_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Dettes fournisseurs et autres dettes</label>
    <label xlink:label="label_urwse_urwseCurrentAmountsDueOnInvestments_Standard" id="urwse_urwseCurrentAmountsDueOnInvestments_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Dettes sur immobilisations</label>
    <label xlink:label="label_urwse_urwseNetShareSettledBondsConvertibleIntoNewAndOrExistingSharesORNANECurrent_Standard" id="urwse_urwseNetShareSettledBondsConvertibleIntoNewAndOrExistingSharesORNANECurrent_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Obligations à option de Remboursement en Numéraire et/ou en Actions Nouvelles et/ou Existantes (ORNANEs)</label>
    <label xlink:label="label_urwse_urwseAdjustmentsForDepreciationProvisions_Standard" id="urwse_urwseAdjustmentsForDepreciationProvisions_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Amortissements et provisions</label>
    <label xlink:label="label_urwse_urwseAdjustmentsForChangesInValueOfFinancialInstruments_Standard" id="urwse_urwseAdjustmentsForChangesInValueOfFinancialInstruments_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Variations de valeur sur les instruments financiers</label>
    <label xlink:label="label_urwse_urwseAdjustmentsForChargesAndIncomeRelatingToStockOptionsAndSimilarItems_Standard" id="urwse_urwseAdjustmentsForChargesAndIncomeRelatingToStockOptionsAndSimilarItems_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Charges et produits calculés liés aux stock-options et assimilés</label>
    <label xlink:label="label_urwse_urwseAdjustmentsForIncomeOnFinancialAssets_Standard" id="urwse_urwseAdjustmentsForIncomeOnFinancialAssets_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Intérêts sur créances</label>
    <label xlink:label="label_urwse_urwseCashFlowBeforeNetFinancingCostsAndTax_Standard" id="urwse_urwseCashFlowBeforeNetFinancingCostsAndTax_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Capacité d'autofinancement avant coût de l'endettement financier net et de l'impôt</label>
    <label xlink:label="label_urwse_urwseIncomeOnFinancialAssetsClassifiedAsOperatingActivities_Standard" id="urwse_urwseIncomeOnFinancialAssetsClassifiedAsOperatingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Intérêts sur créances</label>
    <label xlink:label="label_urwse_urwseCashFlowsFromPropertyActivitiesClassifiedAsInvestingActivities_Standard" id="urwse_urwseCashFlowsFromPropertyActivitiesClassifiedAsInvestingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Secteur des activités de foncière</label>
    <label xlink:label="label_urwse_urwseAmountsPaidForWorksAndAcquisitionOfPropertyAssetsClassifiedAsInvestingActivities_Standard" id="urwse_urwseAmountsPaidForWorksAndAcquisitionOfPropertyAssetsClassifiedAsInvestingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Décaissements liés aux travaux et aux acquisitions d'actifs immobiliers</label>
    <label xlink:label="label_urwse_urwseRepaymentOfPropertyFinancingClassifiedAsInvestingActivities_Standard" id="urwse_urwseRepaymentOfPropertyFinancingClassifiedAsInvestingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Remboursement de financement immobilier</label>
    <label xlink:label="label_urwse_urwseIncreaseOfPropertyFinancingClassifiedAsInvestingActivities_Standard" id="urwse_urwseIncreaseOfPropertyFinancingClassifiedAsInvestingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Nouveau financement immobilier</label>
    <label xlink:label="label_urwse_urwseProceedsFromDisposalOfShares_Standard" id="urwse_urwseProceedsFromDisposalOfShares_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Cessions de titres</label>
    <label xlink:label="label_urwse_urwseCashFlowsFromFinancialActivitiesClassifiedAsInvestingActivities_Standard" id="urwse_urwseCashFlowsFromFinancialActivitiesClassifiedAsInvestingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Investissements financiers</label>
    <label xlink:label="label_urwse_urwseCashFlowsFromChangeInFinancialAssetsClassifiedAsInvestingActivities_Standard" id="urwse_urwseCashFlowsFromChangeInFinancialAssetsClassifiedAsInvestingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Variation d'immobilisations financières</label>
    <label xlink:label="label_urwse_urwseCashFlowsFromCapitalIncreaseOfParentCompanyClassifiedAsFinancingActivities_Standard" id="urwse_urwseCashFlowsFromCapitalIncreaseOfParentCompanyClassifiedAsFinancingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Augmentation de capital de la société mère</label>
    <label xlink:label="label_urwse_urwseCashFlowsFromChangeInCapitalFromCompaniesWithNoncontrollingShareholdersClassifiedAsFinancingActivities_Standard" id="urwse_urwseCashFlowsFromChangeInCapitalFromCompaniesWithNoncontrollingShareholdersClassifiedAsFinancingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Augmentation de capital des actionnaires minoritaires</label>
    <label xlink:label="label_urwse_urwseCashFlowsFromCouponOnTheHybridSecuritiesClassifiedAsFinancingActivities_Standard" id="urwse_urwseCashFlowsFromCouponOnTheHybridSecuritiesClassifiedAsFinancingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Coupon sur titres hybrides</label>
    <label xlink:label="label_urwse_urwseCashFlowsFromFinancialIncomeClassifiedAsFinancingActivities_Standard" id="urwse_urwseCashFlowsFromFinancialIncomeClassifiedAsFinancingActivities_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Produits financiers</label>
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    <label xlink:label="label_urwse_ConsolidatedReservesAttributableToOwnerOfParentMember" id="urwse_ConsolidatedReservesAttributableToOwnerOfParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Réserves consolidées attribuables aux détenteurs d’Actions Jumelées</label>
    <label xlink:label="label_urwse_HedgingAndForeignCurrencyTranslationReservesMember" id="urwse_HedgingAndForeignCurrencyTranslationReservesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Réserves de couverture de change [member]</label>
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    <label xlink:label="label_urwse_HybridSecuritiesMember" id="urwse_HybridSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Titres hybrides [member]</label>
    <label xlink:label="label_urwse_ifrs-fullEquity_PeriodEnd" id="urwse_ifrs-fullEquity_PeriodEnd" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="fr">Capitaux Propres au 31/12/2019</label>
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    <label xlink:label="label_urwse_urwseChangesInScopeOfConsolidationAndOtherMovements_Standard" id="urwse_urwseChangesInScopeOfConsolidationAndOtherMovements_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Variation de périmètre et autres mouvements</label>
    <label xlink:label="label_urwse_urwseIssuanceAndRedemptionOfPerpetualSubordinatedBondsAndConvertibleInstrumentOf750Mn_Standard" id="urwse_urwseIssuanceAndRedemptionOfPerpetualSubordinatedBondsAndConvertibleInstrumentOf750Mn_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Emission et remboursement d’emprunt subordonné perpétuel et instruments convertibles de €750Mn</label>
    <label xlink:label="label_urwse_urwseIssuanceAndRedemptionOfPerpetualSubordinatedBondsAndConvertibleInstrumentOf1250Mn_Standard" id="urwse_urwseIssuanceAndRedemptionOfPerpetualSubordinatedBondsAndConvertibleInstrumentOf1250Mn_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Emission et remboursement d’emprunt subordonné perpétuel et instruments convertibles de €1250Mn</label>
    <label xlink:label="label_urwse_urwseIssuanceAndRedemptionOfPerpetualSubordinatedBondsAndConvertibleInstrumentsOf2000Mn_Standard" id="urwse_urwseIssuanceAndRedemptionOfPerpetualSubordinatedBondsAndConvertibleInstrumentsOf2000Mn_Standard" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="fr">Emission et remboursement d’emprunt subordonné perpétuel et instruments convertibles de €2000Mn </label>
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