ECE has not one, but two projects in the finals of the MIPIM Awards 2013: Marmara Park, opened in Istanbul in October last year, is the only European shopping center nominated in the Best Shopping Center category.
ECE also enters the finals with the Milaneo in Stuttgart for Best Futura Mega Project. It is thus one of just three German nominees in this year’s MIPIM Awards. A jury has selected four finalists for each category. An MIPIM award is considered one of the most prestigious accolades in the real estate sector.
Marmara Park in Istanbul is one of the largest shopping malls in Turkey, boasting a total leasable area of 100,000 m², including an adjacent Bauhaus home improvement store and a Real superstore, around 4,000 parking spaces, and around 250 specialty stores, restaurants, cafés, and a cinema spread over four shopping floors. The closed real estate fund of DWS as investor of the €220 million project holds 50% of the shopping center. The remaining 50% are owned by ECE / the Otto family.
Construction began on the Milaneo in autumn 2012. A project unique in its diversity in Germany, this urban district development boasts around 415 rental apartments, a hotel with around 165 rooms, offices with around 7,400 m² gross floor space and a shopping center with a total sales area of around 43,000 m², including restaurants, food vendors and service areas.
The shopping center is scheduled to open with around 200 stores over three levels in early 2015. The whole development is expected to be fully completed in summer 2015. The complex project is being realized by the partners ECE, STRABAG Real Estate and Bayerische Hausbau. The equity capital partner is Hamburg Trust owning an approximately 78% share in the shopping mall (including underground car park).
Reed Midem, organizer of MIPIM and presenter of the prizes, is handing out the MIPIM Awards for the world’s best real estate projects for the 23rd time this year. Outstanding developments have been sought in eight categories on an international level. The winners will be chosen during MIPIM in Cannes (March 12-13, 2013) and then presented to visitors. The winners are determined by a combination of the visitors’ vote (50%) and the jury's vote (50%).
Source: ECE
