ECE and METRO extend MEC’s joint venture contract

Five-year success story to be continued

ECE Projektmanagement GmbH & Co. KG and METRO GROUP Asset Management Services GmbH have extended the joint venture contract of MEC METRO-ECE Centermanagement GmbH & Co. KG until the end of 2020. The two equal shareholders thus underline their desire to continue the success story of MEC.

The CFO of METRO PROPERTIES, Jürgen Schwarze, said after the signing, “MEC has achieved a great deal in the last five years. In the years ahead, I am firmly convinced that it will continue to make targeted use of the market potential it has created, and expand it further.” Currently, MEC has 49 centers under management (+39% since its foundation).

The CEO of ECE, Alexander Otto, is likewise impressed by the development of MEC. “I think the results of the last few years are quite respectable. In addition to the rapid growth of the young company, I am particularly pleased that MEC enjoys such a high reputation on the market after such a short time.”

“We are delighted by this vote of confidence from our shareholders,” emphasise the two Managing Directors of MEC, CFO Sebastian Kienert and COO Christian Schröder, adding, “The strategy of MEC for the years ahead will be to continue driving forward healthy growth in the highly attractive market of retail parks.” Furthermore, MEC intends to increase the value of the centers already in its portfolio, in the form of project developments, expanding the range of services, etc.

Background information on MEC METRO-ECE Centermanagement

MEC METRO-ECE Centermanagement GmbH & Co. KG is a joint venture between the METRO GROUP Wholesale & Food Specialist Company and ECE. MEC is responsible for integrated management, including commercial and technical property management, local center management, the letting and marketing of a total of 49 retail parks in Germany at the moment.All of the centers, with approximately 1.000 tenants, generate a yearly turnover of €3.1 billion on a rental space of 1.45 million m². Over 180 employees work for MEC, whose company headquarters are in Düsseldorf.