Home / Knowledge / News / METRO PROPERTIES & ECE form JV for retail parks
METRO PROPERTIES & ECE form JV for retail parks
02
Sep '11
The real estate entity of METRO GROUP, METRO PROPERTIES, will contribute its retail park operations to a joint venture with the shopping center developer and operator ECE effective on 1 October 2011. The two partners will each hold a 50 percent share in the future company "MEC METRO-ECE Centermanagement GmbH & Co. KG" (MEC) with registered office in Düsseldorf. In future, MEC is to take over the management including operation, leasing and marketing of 38 retail parks in Germany.

"We are teaming up with ECE and opening up new perspectives for our Center Management function. The business with retail parks remains an important pillar of our overall portfolio and is to be developed further also in future", said Thomas Ziegler, Managing Director of METRO PROPERTIES.

ECE CEO Alexander Otto: "We are convinced that the successful asset management operations of METRO PROPERTIES in conjunction with the expertise of ECE in the fields of center management, marketing and leasing represents a combination with a promising future. In terms of perspective, the new company can look forward to many opportunities for taking over further center management duties and refurbishment projects".

METRO PROPERTIES is contributing its business with a total of 36 retail parks across Germany to the joint venture. The vast majority of the roughly 100 employees working in the Center Management function of METRO PROPERTIES will continue work under the new company. In addition to two own centers, ECE will contribute in particular its management, marketing and leasing expertise to the joint venture.

The designated managing directors of MEC are Jann Robert (until now Head of Controlling at METRO PROPERTIES) and Christian Schröder (until now Regional Director Center Management at ECE). The planned merger is subject to the approval by the pertinent antitrust authority. A decision in this regard is expected by the end of September. The real estate subsidiary of METRO GROUP - formerly METRO Group Asset Management - was recently renamed METRO PROPERTIES.

METRO PROPERTIES is the real estate entity of METRO GROUP and responsible for optimising the complete real estate portfolio. With 688 commercial locations in 30 countries, METRO GROUP owns the largest international portfolio of wholesale and retail properties. METRO PROPERTIES is responsible for the active real estate management in Europe and Asia and for the development and construction of commercial property. Outside Germany, especially in Eastern Europe, the company also provides facility management services for external commercial, office and warehouse locations. In 2010, the Real Estate Segment generated EBIT before special items of € 698 million.

ECE – A strong Partner
Since 1965, ECE has been developing, planning, realising, leasing and managing large shopping centers with now 137 shopping malls under its management and activities in 16 countries. In all ECE centers taken together, around 15,000 retail tenants generate annual sales of around € 15.3 billion on a sales area totalling around € 4.4 million square meters.

METRO GROUP


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search