diff --git a/src/App.tsx b/src/App.tsx
index d71627e..914d7d7 100644
--- a/src/App.tsx
+++ b/src/App.tsx
@@ -26,7 +26,7 @@ const Anfragencenter = lazy(() => import('./pages/supply/Anfragencenter'))
 const FutureAvailability = lazy(() => import('./pages/supply/FutureAvailability'))
 const DataQuality = lazy(() => import('./pages/supply/DataQuality'))
 const ReminderManager = lazy(() => import('./pages/supply/ReminderManager'))
-const MarketLeads = lazy(() => import('./pages/supply/MarketLeads'))
+const MarketIntelligence = lazy(() => import('./pages/supply/MarketIntelligence'))
 const NewListing = lazy(() => import('./pages/supply/NewListing'))
 const MyListings = lazy(() => import('./pages/supply/MyListings'))
 
@@ -38,7 +38,6 @@ const Anfragen = lazy(() => import('./pages/demand/Anfragen'))
 const Pipeline = lazy(() => import('./pages/demand/Pipeline'))
 const PropertyDetail = lazy(() => import('./pages/demand/PropertyDetail'))
 
-const MarketIntelligence = lazy(() => import('./pages/ops/MarketIntelligence'))
 
 function App() {
   return (
@@ -62,7 +61,6 @@ function App() {
                 <Route path="/supply/future-availability" element={<FutureAvailability />} />
                 <Route path="/supply/data-quality" element={<DataQuality />} />
                 <Route path="/supply/reminder-manager" element={<ReminderManager />} />
-                <Route path="/supply/market-leads" element={<MarketLeads />} />
                 <Route path="/supply/market-intelligence" element={<MarketIntelligence />} />
                 <Route path="/supply/new-listing" element={<NewListing />} />
                 <Route path="/supply/my-listings" element={<MyListings />} />
diff --git a/src/components/layout/appShellConfig.ts b/src/components/layout/appShellConfig.ts
index c871d9a..ce136bb 100644
--- a/src/components/layout/appShellConfig.ts
+++ b/src/components/layout/appShellConfig.ts
@@ -3,7 +3,6 @@ import type { LucideIcon } from 'lucide-react'
 import {
   LayoutDashboard,
   Building2,
-  Target,
   CheckSquare,
   Search,
   List,
@@ -49,10 +48,9 @@ export const WORKSPACE_CONFIG: Record<WorkspaceType, WorkspaceConfig> = {
       { path: '/supply/dashboard', label: 'Übersicht', icon: LayoutDashboard },
       { path: '/supply/properties', label: 'Meine Objekte', icon: Building2 },
       { path: '/supply/reminder-manager', label: 'Reminder Manager', icon: BellRing },
-      { path: '/supply/market-leads', label: 'Markt-Leads', icon: Target },
       { path: '/supply/anfragen', label: 'Anfragencenter', icon: MessageSquare },
       { path: '/supply/data-quality', label: 'Datenpflege', icon: CheckSquare },
-      { path: '/supply/market-intelligence', label: 'Markt Intelligence', icon: Radar },
+      { path: '/supply/market-intelligence', label: 'Marktchancen', icon: Radar },
       { path: '/supply/my-listings', label: 'Inserate', icon: ClipboardList },
     ],
   },
diff --git a/src/pages/supply/MarketIntelligence.tsx b/src/pages/supply/MarketIntelligence.tsx
new file mode 100644
index 0000000..8c9ae3b
--- /dev/null
+++ b/src/pages/supply/MarketIntelligence.tsx
@@ -0,0 +1,289 @@
+import { memo, useState, useEffect } from 'react'
+import { useNavigate } from 'react-router'
+import { Box, Chip, Divider, Skeleton, Typography, Button } from '@mui/material'
+import { AlertCircle, Bell, Building2, CheckCircle2, Sparkles, TrendingUp } from 'lucide-react'
+import { useMarketLeads } from '../../hooks/useMarketLeads'
+import type { MarketLead } from '../../hooks/useMarketLeads'
+
+const SOURCE_LABELS: Record<string, string> = {
+  JOB_POSTING: 'Stelleninserate',
+  PRESS: 'Pressebericht',
+  COMPANY_REPORT: 'Geschäftsbericht',
+  MARKET_DATA: 'Marktdaten',
+  MANUAL: 'Manuell',
+  CONSTRUCTION_PERMIT: 'Baugenehmigung',
+  LEASE_CONTRACT: 'Mietvertrag',
+}
+
+function probColor(p: number): string {
+  if (p >= 0.70) return '#1a7a4a'
+  if (p >= 0.50) return '#d97706'
+  return '#dc2626'
+}
+
+const LeadListItem = memo(function LeadListItem({
+  lead, selected, onClick,
+}: {
+  lead: MarketLead
+  selected: boolean
+  onClick: () => void
+}) {
+  const { signal, matchingProperties } = lead
+  const prob = Math.round(signal.probability * 100)
+  const color = probColor(signal.probability)
+
+  return (
+    <Box
+      onClick={onClick}
+      sx={{
+        px: 2, py: 1.5,
+        borderBottom: '1px solid #f1f5f9',
+        borderLeft: `3px solid ${selected ? '#1e3a5f' : 'transparent'}`,
+        bgcolor: selected ? '#f0f9ff' : 'white',
+        cursor: 'pointer',
+        '&:hover': { bgcolor: selected ? '#f0f9ff' : '#f8fafc' },
+        transition: 'background 0.1s',
+      }}
+    >
+      <Box sx={{ display: 'flex', justifyContent: 'space-between', alignItems: 'flex-start', gap: 1, mb: 0.25 }}>
+        <Typography variant="body2" sx={{ fontWeight: 600, color: '#0f172a', lineHeight: 1.3 }}>
+          {signal.companyName ?? signal.locationHint}
+        </Typography>
+        <Chip
+          label={`${prob}%`}
+          size="small"
+          sx={{ height: 18, fontSize: '0.65rem', fontWeight: 700, bgcolor: `${color}18`, color, flexShrink: 0 }}
+        />
+      </Box>
+      {signal.title && (
+        <Typography variant="caption" sx={{ color: '#64748b', display: 'block', mb: 0.5, lineHeight: 1.3 }}>
+          {signal.title}
+        </Typography>
+      )}
+      <Box sx={{ display: 'flex', alignItems: 'center', gap: 1 }}>
+        <Typography variant="caption" sx={{ color: '#94a3b8', fontSize: '0.65rem' }}>
+          {signal.locationHint} · {signal.timeHorizonMonths} Mo.
+        </Typography>
+        {matchingProperties.length > 0 && (
+          <Chip
+            label={`${matchingProperties.length} Obj.`}
+            size="small"
+            sx={{ ml: 'auto', height: 16, fontSize: '0.6rem', fontWeight: 600, bgcolor: '#dcfce7', color: '#16a34a' }}
+          />
+        )}
+      </Box>
+    </Box>
+  )
+})
+
+function LeadDetail({ lead }: { lead: MarketLead }) {
+  const navigate = useNavigate()
+  const { signal, matchingProperties } = lead
+  const prob = Math.round(signal.probability * 100)
+  const color = probColor(signal.probability)
+  const sourceLabel = SOURCE_LABELS[signal.source.type] ?? signal.source.type
+
+  return (
+    <Box sx={{ height: '100%', overflowY: 'auto' }}>
+      {/* Header */}
+      <Box sx={{ p: 3, borderBottom: '1px solid #e2e8f0' }}>
+        <Typography variant="h6" sx={{ fontWeight: 700, lineHeight: 1.3, mb: 0.5 }}>
+          {signal.companyName ?? signal.locationHint}
+        </Typography>
+        {signal.title && (
+          <Typography variant="body2" color="text.secondary" sx={{ mb: 1.5 }}>
+            {signal.title}
+          </Typography>
+        )}
+        <Box sx={{ display: 'flex', flexWrap: 'wrap', gap: 0.75 }}>
+          <Chip label={`${prob}% Wahrscheinlichkeit`} size="small" sx={{ bgcolor: `${color}18`, color, fontWeight: 700 }} />
+          <Chip label={`${signal.timeHorizonMonths} Monate`} size="small" sx={{ bgcolor: '#f1f5f9', color: '#475569' }} />
+          {signal.areaSqmEstimate && (
+            <Chip label={`~${signal.areaSqmEstimate.toLocaleString('de-CH')} m²`} size="small" sx={{ bgcolor: '#f1f5f9', color: '#475569' }} />
+          )}
+          <Chip label={signal.locationHint} size="small" sx={{ bgcolor: '#f1f5f9', color: '#475569' }} />
+          <Chip label={sourceLabel} size="small" sx={{ bgcolor: '#f8fafc', color: '#64748b' }} />
+        </Box>
+      </Box>
+
+      <Box sx={{ p: 3, display: 'flex', flexDirection: 'column', gap: 2.5 }}>
+        {/* AI summary */}
+        {(signal.aiSummary ?? signal.strategicInterpretation) && (
+          <Box sx={{ bgcolor: '#eff6ff', border: '1px solid #bfdbfe', borderRadius: 1.5, p: 2 }}>
+            <Box sx={{ display: 'flex', alignItems: 'center', gap: 0.75, mb: 0.75 }}>
+              <Sparkles size={13} color="#1d4ed8" />
+              <Typography variant="caption" sx={{ fontWeight: 700, color: '#1d4ed8', textTransform: 'uppercase', letterSpacing: 0.5, fontSize: '0.65rem' }}>
+                KI-Analyse
+              </Typography>
+            </Box>
+            <Typography variant="body2" sx={{ color: '#1e3a8a', lineHeight: 1.6 }}>
+              {signal.aiSummary ?? signal.strategicInterpretation}
+            </Typography>
+          </Box>
+        )}
+
+        {/* Market indicators */}
+        {(signal.marketIndicators?.length ?? 0) > 0 && (
+          <Box>
+            <Typography variant="caption" sx={{ fontWeight: 700, color: '#64748b', textTransform: 'uppercase', letterSpacing: 0.5, display: 'block', mb: 0.75 }}>
+              Erkannte Nachfragesignale
+            </Typography>
+            <Box sx={{ display: 'flex', flexDirection: 'column', gap: 0.5 }}>
+              {signal.marketIndicators!.map((ind, i) => (
+                <Box key={i} sx={{ display: 'flex', alignItems: 'flex-start', gap: 0.75 }}>
+                  <TrendingUp size={12} color="#1e3a5f" style={{ marginTop: 3, flexShrink: 0 }} />
+                  <Typography variant="body2" sx={{ lineHeight: 1.5, color: '#1e293b' }}>{ind}</Typography>
+                </Box>
+              ))}
+            </Box>
+          </Box>
+        )}
+
+        {/* Confirmed / unconfirmed facts */}
+        {((signal.confirmedFacts?.length ?? 0) + (signal.unconfirmedFacts?.length ?? 0)) > 0 && (
+          <Box>
+            <Typography variant="caption" sx={{ fontWeight: 700, color: '#64748b', textTransform: 'uppercase', letterSpacing: 0.5, display: 'block', mb: 0.75 }}>
+              Faktencheck
+            </Typography>
+            <Box sx={{ display: 'flex', flexDirection: 'column', gap: 0.4 }}>
+              {(signal.confirmedFacts ?? []).map((f, i) => (
+                <Box key={`c-${i}`} sx={{ display: 'flex', alignItems: 'center', gap: 0.75 }}>
+                  <CheckCircle2 size={13} color="#16a34a" style={{ flexShrink: 0 }} />
+                  <Typography variant="caption" sx={{ color: '#15803d', fontWeight: 500 }}>{f}</Typography>
+                </Box>
+              ))}
+              {(signal.unconfirmedFacts ?? []).map((f, i) => (
+                <Box key={`u-${i}`} sx={{ display: 'flex', alignItems: 'center', gap: 0.75 }}>
+                  <AlertCircle size={13} color="#d97706" style={{ flexShrink: 0 }} />
+                  <Typography variant="caption" sx={{ color: '#92400e', fontWeight: 500 }}>{f}</Typography>
+                </Box>
+              ))}
+            </Box>
+          </Box>
+        )}
+
+        <Divider />
+
+        {/* Portfolio matches */}
+        <Box>
+          <Typography variant="caption" sx={{ fontWeight: 700, color: '#64748b', textTransform: 'uppercase', letterSpacing: 0.5, display: 'block', mb: 0.75 }}>
+            Passende Objekte im Portfolio ({matchingProperties.length})
+          </Typography>
+          {matchingProperties.length === 0 ? (
+            <Typography variant="caption" color="text.disabled" sx={{ fontStyle: 'italic' }}>
+              Kein passendes Objekt gefunden — manuelle Prüfung empfohlen
+            </Typography>
+          ) : (
+            <Box sx={{ display: 'flex', flexDirection: 'column', gap: 0.5 }}>
+              {matchingProperties.slice(0, 3).map(p => (
+                <Box
+                  key={p.id}
+                  onClick={() => navigate('/supply/properties')}
+                  sx={{
+                    display: 'flex', alignItems: 'center', gap: 1,
+                    px: 1.25, py: 0.875, borderRadius: 1,
+                    bgcolor: '#f0fdf4', border: '1px solid #bbf7d0',
+                    cursor: 'pointer', '&:hover': { bgcolor: '#dcfce7' },
+                  }}
+                >
+                  <Building2 size={12} color="#16a34a" style={{ flexShrink: 0 }} />
+                  <Typography variant="caption" sx={{ fontWeight: 600, color: '#15803d', flex: 1, overflow: 'hidden', textOverflow: 'ellipsis', whiteSpace: 'nowrap' }}>
+                    {p.title}
+                  </Typography>
+                  <Typography variant="caption" sx={{ color: '#16a34a', flexShrink: 0 }}>
+                    {p.areaSqm.toLocaleString('de-CH')} m²
+                  </Typography>
+                </Box>
+              ))}
+              {matchingProperties.length > 3 && (
+                <Typography variant="caption" color="text.secondary" sx={{ pl: 0.5 }}>
+                  +{matchingProperties.length - 3} weitere Objekte
+                </Typography>
+              )}
+            </Box>
+          )}
+        </Box>
+
+        {/* Action */}
+        <Box>
+          <Button
+            variant="outlined"
+            size="small"
+            startIcon={<Bell size={14} />}
+            onClick={() => navigate('/supply/reminder-manager')}
+            sx={{ textTransform: 'none', fontSize: '0.8rem' }}
+          >
+            Reminder erstellen
+          </Button>
+        </Box>
+
+        {signal.disclaimer && (
+          <Typography variant="caption" color="text.disabled" sx={{ lineHeight: 1.4 }}>
+            {signal.disclaimer}
+          </Typography>
+        )}
+      </Box>
+    </Box>
+  )
+}
+
+export default function MarketIntelligence() {
+  const [selectedId, setSelectedId] = useState<string | null>(null)
+  const { data: leads, isLoading } = useMarketLeads()
+
+  useEffect(() => {
+    if (!selectedId && leads.length > 0) setSelectedId(leads[0].signal.id)
+  }, [leads, selectedId])
+
+  const selectedLead = leads.find(l => l.signal.id === selectedId) ?? null
+
+  return (
+    <Box sx={{ display: 'flex', flexDirection: 'column', height: '100%', overflow: 'hidden' }}>
+      <Box sx={{ px: 3, py: 2, bgcolor: 'white', borderBottom: '1px solid #e2e8f0', flexShrink: 0 }}>
+        <Typography variant="h6" sx={{ fontWeight: 700, lineHeight: 1.2 }}>Marktchancen</Typography>
+        <Typography variant="caption" color="text.secondary">
+          Erkannte Unternehmen mit aktivem Flächenbedarf — potenzielle Mieter für Ihr Portfolio
+        </Typography>
+      </Box>
+
+      <Box sx={{ display: 'flex', flex: 1, overflow: 'hidden' }}>
+        {/* Left pane */}
+        <Box sx={{ width: 360, flexShrink: 0, borderRight: '1px solid #e2e8f0', display: 'flex', flexDirection: 'column', overflow: 'hidden' }}>
+          <Box sx={{ px: 2, py: 1.25, borderBottom: '1px solid #e2e8f0', display: 'flex', alignItems: 'center', gap: 1, flexShrink: 0 }}>
+            <Typography variant="subtitle2" sx={{ fontWeight: 600, flex: 1 }}>Markt-Signale</Typography>
+            <Chip label={isLoading ? '…' : leads.length} size="small" sx={{ bgcolor: '#1e3a5f', color: '#fff', fontSize: '0.7rem', height: 20 }} />
+          </Box>
+          <Box sx={{ flex: 1, overflowY: 'auto' }}>
+            {isLoading
+              ? [1, 2, 3, 4].map(i => (
+                  <Box key={i} sx={{ px: 2, py: 1.5, borderBottom: '1px solid #f1f5f9' }}>
+                    <Skeleton variant="text" width="55%" sx={{ mb: 0.25 }} />
+                    <Skeleton variant="text" width="80%" height={14} />
+                    <Skeleton variant="text" width="40%" height={12} />
+                  </Box>
+                ))
+              : leads.map(lead => (
+                  <LeadListItem
+                    key={lead.signal.id}
+                    lead={lead}
+                    selected={lead.signal.id === selectedId}
+                    onClick={() => setSelectedId(lead.signal.id)}
+                  />
+                ))}
+          </Box>
+        </Box>
+
+        {/* Right pane */}
+        <Box sx={{ flex: 1, overflow: 'hidden', display: 'flex', flexDirection: 'column' }}>
+          {selectedLead ? (
+            <LeadDetail lead={selectedLead} />
+          ) : (
+            <Box sx={{ display: 'flex', alignItems: 'center', justifyContent: 'center', height: '100%' }}>
+              <Typography variant="body2" color="text.disabled">Signal aus der Liste auswählen</Typography>
+            </Box>
+          )}
+        </Box>
+      </Box>
+    </Box>
+  )
+}
diff --git a/src/pages/supply/MarketLeads.tsx b/src/pages/supply/MarketLeads.tsx
deleted file mode 100644
index f1690f8..0000000
--- a/src/pages/supply/MarketLeads.tsx
+++ /dev/null
@@ -1,296 +0,0 @@
-import {
-  Box,
-  Chip,
-  Divider,
-  Paper,
-  Skeleton,
-  Typography,
-} from '@mui/material'
-import {
-  AlertCircle,
-  BarChart2,
-  Briefcase,
-  Building2,
-  CheckCircle2,
-  FileText,
-  Newspaper,
-  Target,
-  TrendingUp,
-  Users,
-} from 'lucide-react'
-import { useNavigate } from 'react-router'
-import { useMarketLeads } from '../../hooks/useMarketLeads'
-import { DS_TEXT, DS_BG, DS_SURFACE, DS_BORDER, DS_MARKET_SIGNAL } from '../../lib/ds'
-import { DecisionContextPanel } from '../../components/ui'
-import type { MarketLead } from '../../hooks/useMarketLeads'
-import type { Property } from '../../domain/property'
-
-// ── Source meta ──────────────────────────────────────────────────────────────
-
-const SOURCE_META: Record<string, { label: string; icon: React.ReactNode }> = {
-  JOB_POSTING:    { label: 'Stelleninserate', icon: <Briefcase size={12} /> },
-  PRESS:          { label: 'Pressebericht',   icon: <Newspaper size={12} /> },
-  COMPANY_REPORT: { label: 'Geschäftsbericht',icon: <FileText size={12} /> },
-  MARKET_DATA:    { label: 'Marktdaten',      icon: <BarChart2 size={12} /> },
-}
-
-const QUALITY_META: Record<string, { label: string; color: string }> = {
-  HIGH:   { label: 'Hohe Signalqualität',    color: DS_TEXT.success },
-  MEDIUM: { label: 'Mittlere Signalqualität', color: DS_TEXT.warning },
-  LOW:    { label: 'Niedrige Signalqualität', color: DS_TEXT.error },
-}
-
-function signalQuality(probability: number): 'HIGH' | 'MEDIUM' | 'LOW' {
-  return probability >= 0.70 ? 'HIGH' : probability >= 0.50 ? 'MEDIUM' : 'LOW'
-}
-
-// ── Property match chip ───────────────────────────────────────────────────────
-
-function PropertyMatchRow({ p }: { p: Property }) {
-  const navigate = useNavigate()
-  return (
-    <Box
-      onClick={() => navigate('/supply/properties')}
-      sx={{
-        display: 'flex', alignItems: 'center', gap: 1,
-        px: 1.25, py: 0.75, borderRadius: 1,
-        bgcolor: DS_SURFACE.success.bg, border: `1px solid ${DS_SURFACE.success.border}`,
-        cursor: 'pointer', '&:hover': { bgcolor: DS_SURFACE.success.bg },
-      }}
-    >
-      <Building2 size={12} color={DS_TEXT.success} style={{ flexShrink: 0 }} />
-      <Typography variant="caption" sx={{ fontWeight: 600, color: DS_TEXT.success, flex: 1, minWidth: 0, overflow: 'hidden', textOverflow: 'ellipsis', whiteSpace: 'nowrap' }}>
-        {p.title}
-      </Typography>
-      <Typography variant="caption" sx={{ color: DS_TEXT.success, flexShrink: 0 }}>
-        {p.areaSqm.toLocaleString('de-CH')} m²
-      </Typography>
-    </Box>
-  )
-}
-
-// ── Lead card ─────────────────────────────────────────────────────────────────
-
-function LeadCard({ lead }: { lead: MarketLead }) {
-  const { signal, matchingProperties } = lead
-  const probPct = Math.round(signal.probability * 100)
-  const qual = signalQuality(signal.probability)
-  const qualMeta = QUALITY_META[qual]
-  const sourceMeta = SOURCE_META[signal.source.type] ?? null
-
-  return (
-    <Paper
-      sx={{
-        p: 2.5, mb: 2,
-        borderLeft: `3px solid ${DS_MARKET_SIGNAL.accent}`,
-        position: 'relative',
-      }}
-    >
-      {/* Header */}
-      <Box sx={{ display: 'flex', alignItems: 'flex-start', justifyContent: 'space-between', gap: 2, mb: 1.5 }}>
-        <Box sx={{ display: 'flex', alignItems: 'flex-start', gap: 1.25 }}>
-          <Box sx={{ mt: 0.25, flexShrink: 0 }}>
-            <Target size={18} color={DS_MARKET_SIGNAL.accent} />
-          </Box>
-          <Box>
-            <Typography variant="subtitle1" sx={{ fontWeight: 700, lineHeight: 1.25, mb: 0.25 }}>
-              {signal.companyName ?? signal.locationHint}
-            </Typography>
-            <Typography variant="body2" color="text.secondary">
-              {signal.title}
-            </Typography>
-          </Box>
-        </Box>
-        <Chip
-          label="Market Signal"
-          size="small"
-          sx={{ bgcolor: DS_SURFACE.blue.bg, color: DS_MARKET_SIGNAL.accent, fontWeight: 700, fontSize: '0.68rem', flexShrink: 0 }}
-        />
-      </Box>
-
-      {/* Key facts strip */}
-      <Box sx={{ display: 'flex', flexWrap: 'wrap', gap: 2, mb: 1.75 }}>
-        {signal.areaSqmEstimate && (
-          <Box>
-            <Typography variant="caption" color="text.secondary" sx={{ display: 'block', lineHeight: 1.2 }}>Flächenbedarf</Typography>
-            <Typography variant="body2" sx={{ fontWeight: 700 }}>~{signal.areaSqmEstimate.toLocaleString('de-CH')} m²</Typography>
-          </Box>
-        )}
-        <Box>
-          <Typography variant="caption" color="text.secondary" sx={{ display: 'block', lineHeight: 1.2 }}>Zeithorizont</Typography>
-          <Typography variant="body2" sx={{ fontWeight: 700 }}>~{signal.timeHorizonMonths} Monate</Typography>
-        </Box>
-        <Box>
-          <Typography variant="caption" color="text.secondary" sx={{ display: 'block', lineHeight: 1.2 }}>Wahrscheinlichkeit</Typography>
-          <Typography variant="body2" sx={{ fontWeight: 700, color: qualMeta.color }}>{probPct}%</Typography>
-        </Box>
-        <Box>
-          <Typography variant="caption" color="text.secondary" sx={{ display: 'block', lineHeight: 1.2 }}>Standort</Typography>
-          <Typography variant="body2" sx={{ fontWeight: 700 }}>{signal.locationHint}</Typography>
-        </Box>
-        {sourceMeta && (
-          <Box>
-            <Typography variant="caption" color="text.secondary" sx={{ display: 'block', lineHeight: 1.2 }}>Quelle</Typography>
-            <Box sx={{ display: 'flex', alignItems: 'center', gap: 0.5 }}>
-              {sourceMeta.icon}
-              <Typography variant="body2" sx={{ fontWeight: 600 }}>{sourceMeta.label}</Typography>
-            </Box>
-          </Box>
-        )}
-      </Box>
-
-      <Divider sx={{ mb: 1.75 }} />
-
-      {/* Market indicators */}
-      {signal.marketIndicators && signal.marketIndicators.length > 0 && (
-        <Box sx={{ mb: 1.75 }}>
-          <Typography variant="caption" sx={{ fontWeight: 700, color: DS_TEXT.secondary, textTransform: 'uppercase', letterSpacing: 0.5, display: 'block', mb: 0.75 }}>
-            Erkannte Nachfragesignale
-          </Typography>
-          <Box sx={{ display: 'flex', flexDirection: 'column', gap: 0.5 }}>
-            {signal.marketIndicators.map((ind, i) => (
-              <Box key={i} sx={{ display: 'flex', alignItems: 'flex-start', gap: 0.75 }}>
-                <TrendingUp size={11} color={DS_MARKET_SIGNAL.accent} style={{ marginTop: 3, flexShrink: 0 }} />
-                <Typography variant="body2" sx={{ color: DS_TEXT.primary, lineHeight: 1.4 }}>{ind}</Typography>
-              </Box>
-            ))}
-          </Box>
-        </Box>
-      )}
-
-      {/* Confirmed / unconfirmed facts */}
-      {((signal.confirmedFacts?.length ?? 0) > 0 || (signal.unconfirmedFacts?.length ?? 0) > 0) && (
-        <Box sx={{ mb: 1.75 }}>
-          <Box sx={{ display: 'flex', flexDirection: 'column', gap: 0.4 }}>
-            {(signal.confirmedFacts ?? []).map((f, i) => (
-              <Box key={`c-${i}`} sx={{ display: 'flex', alignItems: 'center', gap: 0.75 }}>
-                <CheckCircle2 size={12} color={DS_TEXT.success} style={{ flexShrink: 0 }} />
-                <Typography variant="caption" sx={{ color: DS_TEXT.success, fontWeight: 500 }}>{f}</Typography>
-              </Box>
-            ))}
-            {(signal.unconfirmedFacts ?? []).map((f, i) => (
-              <Box key={`u-${i}`} sx={{ display: 'flex', alignItems: 'center', gap: 0.75 }}>
-                <AlertCircle size={12} color={DS_TEXT.warning} style={{ flexShrink: 0 }} />
-                <Typography variant="caption" sx={{ color: DS_TEXT.warning, fontWeight: 500 }}>{f}</Typography>
-              </Box>
-            ))}
-          </Box>
-        </Box>
-      )}
-
-      <Divider sx={{ mb: 1.5 }} />
-
-      {/* Portfolio matches */}
-      <Box>
-        <Typography variant="caption" sx={{ fontWeight: 700, color: DS_TEXT.secondary, textTransform: 'uppercase', letterSpacing: 0.5, display: 'block', mb: 0.75 }}>
-          Passende Objekte im Portfolio ({matchingProperties.length})
-        </Typography>
-        {matchingProperties.length === 0 ? (
-          <Typography variant="caption" color="text.disabled" sx={{ fontStyle: 'italic' }}>
-            Kein passendes Portfolioobjekt gefunden — manuell prüfen empfohlen
-          </Typography>
-        ) : (
-          <Box sx={{ display: 'flex', flexDirection: 'column', gap: 0.5 }}>
-            {matchingProperties.slice(0, 3).map(p => (
-              <PropertyMatchRow key={p.id} p={p} />
-            ))}
-            {matchingProperties.length > 3 && (
-              <Typography variant="caption" color="text.secondary" sx={{ pl: 0.5 }}>
-                +{matchingProperties.length - 3} weitere Objekte
-              </Typography>
-            )}
-          </Box>
-        )}
-      </Box>
-
-      {/* Disclaimer */}
-      <Typography variant="caption" color="text.disabled" sx={{ display: 'block', mt: 1.5, pt: 1.25, borderTop: `1px solid ${DS_BG.subtle}`, lineHeight: 1.4 }}>
-        {signal.disclaimer}
-      </Typography>
-    </Paper>
-  )
-}
-
-// ── Loading skeleton ──────────────────────────────────────────────────────────
-
-function LeadSkeleton() {
-  return (
-    <Paper sx={{ p: 2.5, mb: 2, borderLeft: `3px solid ${DS_BORDER.default}` }}>
-      <Skeleton variant="text" width="60%" height={24} sx={{ mb: 0.5 }} />
-      <Skeleton variant="text" width="80%" height={18} sx={{ mb: 2 }} />
-      <Skeleton variant="rectangular" height={48} sx={{ borderRadius: 1, mb: 2 }} />
-      <Skeleton variant="rectangular" height={64} sx={{ borderRadius: 1 }} />
-    </Paper>
-  )
-}
-
-// ── Page ──────────────────────────────────────────────────────────────────────
-
-export default function MarketLeads() {
-  const { data: leads, isLoading } = useMarketLeads()
-
-  const leadsWithMatch = leads.filter(l => l.matchingProperties.length > 0)
-
-  return (
-    <Box sx={{ display: 'flex', flexDirection: 'column', height: '100%', overflow: 'hidden' }}>
-
-      {/* Header */}
-      <Box sx={{ px: 3, py: 2, bgcolor: 'white', borderBottom: `1px solid ${DS_BORDER.default}`, flexShrink: 0 }}>
-        <Box sx={{ display: 'flex', alignItems: 'center', gap: 1.5 }}>
-          <Users size={20} color={DS_MARKET_SIGNAL.accent} />
-          <Box>
-            <Typography variant="h6" sx={{ fontWeight: 700, lineHeight: 1.2 }}>Markt-Leads</Typography>
-            <Typography variant="caption" color="text.secondary">
-              Erkannte Unternehmen mit aktivem Flächenbedarf — potenzielle Mieter für Ihr Portfolio
-            </Typography>
-          </Box>
-          {!isLoading && (
-            <Chip
-              label={`${leads.length} aktive Leads`}
-              size="small"
-              sx={{ ml: 'auto', bgcolor: DS_SURFACE.blue.bg, color: DS_MARKET_SIGNAL.accent, fontWeight: 700 }}
-            />
-          )}
-        </Box>
-      </Box>
-
-      <Box sx={{ flex: 1, overflowY: 'auto', px: 3, py: 3 }}>
-
-        {/* Decision context */}
-        {!isLoading && leads.length > 0 && (
-          <DecisionContextPanel
-            decision="Welche Unternehmen könnten als Nachmieter für Ihre Objekte in Frage kommen?"
-            context={`${leads.length} erkannte Nachfragesignale · ${leadsWithMatch.length} mit passendem Portfolioobjekt`}
-            metrics={[
-              { label: 'aktive Markt-Leads', value: leads.length, severity: 'positive' },
-              ...(leadsWithMatch.length > 0
-                ? [{ label: 'mit passendem Objekt', value: leadsWithMatch.length, severity: 'positive' as const }]
-                : []),
-            ]}
-            risks={leads.length - leadsWithMatch.length > 0
-              ? [`${leads.length - leadsWithMatch.length} Leads ohne direkten Portfolio-Match — Leerstandsanalyse empfohlen`]
-              : []
-            }
-            actions={[]}
-          />
-        )}
-
-        {isLoading ? (
-          <>
-            <LeadSkeleton />
-            <LeadSkeleton />
-            <LeadSkeleton />
-          </>
-        ) : leads.length === 0 ? (
-          <Paper sx={{ p: 4, textAlign: 'center' }}>
-            <Target size={32} color={DS_TEXT.disabled} style={{ marginBottom: 12 }} />
-            <Typography variant="body1" color="text.secondary" sx={{ mb: 0.5 }}>Keine aktiven Markt-Leads gefunden.</Typography>
-            <Typography variant="caption" color="text.disabled">Signale werden laufend aus öffentlichen Quellen erkannt.</Typography>
-          </Paper>
-        ) : (
-          leads.map(lead => <LeadCard key={lead.signal.id} lead={lead} />)
-        )}
-      </Box>
-    </Box>
-  )
-}