by FoodBizDaily.com staff writer
February 08 2010 - SES Spar European Shopping Centre subsidiary of Spar Austria has officially announced that it signed an agreement of forming a joint venture with ECE Projektmanagement for the development, realization and management of new shopping centers in Italy.
Both companies will have a 50 per cent interest in new joint venture SES-ECE-Management GmbH based in Salzburg and run by Wild and Dunstheimer.
According to Austrian media reports SES already manages the Ipercity and Le Brentelle shopping centres in Padua, Italy.
SES develops, constructs and operates large retail trade centres and is already a market leader in Austria and Slovenia in the sector. It is also active in Hungary, the Czech Republic and northern Italy.
SES manages 23 shopping centres with a total area of 620,000 square metres that had combined turnover of two billion Euros in 2008.
ECE plans, builds, rents and manages large shopping centres in 13 countries. It manages 114 shopping centres. Their 12,000 stores with a total area of 3.5 million square metres have annual turnover of 13.1 billion Euros.