Home / Knowledge / News / METRO PROPERTIES & ECE form JV for retail parks
METRO PROPERTIES & ECE form JV for retail parks
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.


Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Courtesy: Green Initiatives

Apparel/Garments | On 20th Feb 2017

Green Initiatives launches Re:Form to end textile waste

Green Initiatives, a non-government institution, has launched...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Amit Jain
Shingora Textiles Ltd

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

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Larry L Kinn
Suominen Corporation

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

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search