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METRO GROUP : ANNUAL REPORT 2011 : STRATEGy
→ sTRaTeGIC posITIonInG oF MeTRo GRoUp : Real esTaTe
Real Estate 425
MeTRo pRopeRTIes is the real estate company of
MeTRo GRoUp. It owns 687 retail properties and manages
another 153 retail-related properties. The primary job of
MeTRo pRopeRTIes is to increase the value of the Group’s
real estate assets, whose current book value amounts to
about €8 billion, over the long term by practicing active,
strategic portfolio management. The company acts as a
service provider that assists with the search for suitable
business locations as well as the development, construction
and management of retail properties. By taking this
approach, MeTRo pRopeRTIes supports and accelerates
the international expansion of our sales divisions. other
services include energy management as well as facility
management for retailing, administrative and warehouse
locations. MeTRo GRoUp reports real estate as an independent
segment in order to better underscore its value
contribution. During the reporting year, MeTRo pRopeRTIes
expanded its range of services – which, in the past, had generally
been used within the Group – and also introduced
them into the marketplace.
single-source real estate management
as part of a reorganisation effort, we changed the name of
our real estate company from MeTRo Group asset Management
to MeTRo pRopeRTIes during the reporting year. on
1 october 2011, we also integrated the departments for
expansion & Construction at Metro Cash & Carry into the real
estate company. as a result of these changes, all real estate
management at MeTRo GRoUp is overseen by a single unit
with clear, efficient structures and areas of responsibility.
Through this effort, we have laid the foundation on which the
service range can be expanded for all sales divisions and particularly
for Metro Cash & Carry. By taking this approach,
MeTRo pRopeRTIes can better employ the know-how of its
staff in the expansion of international markets. This helps to
significantly accelerate the pace of this growth. We are also
tapping new savings potential by bundling volume and are
producing higher quality at lower costs.
Value-orientated portfolio strategy
MeTRo pRopeRTIes regularly evaluates and analyses all
global and local markets, locations and properties as a basis
for strategic real estate management. Its employees develop
lucrative formats and work out targets for the individual locations
and properties in order to achieve systematic and longterm
gains in revenue and value. MeTRo pRopeRTIes does
this by optimally leveraging investment cycles. The company
aims to sell properties at the height of their value appreciation.
profitable acquisitions are made in those markets
where real estate prices show long-term growth potential. In
a reflection of this approach, real estate assets at Metro
Cash & Carry Italy were once again successfully placed on
the market in 2011 as part of a funds transaction. Gross
transaction proceeds totalled about €300 million.
Experts for project development and
construction management
For new buildings, modernisations, reconstructions or expansions,
MeTRo pRopeRTIes offers tailor-made solutions for
all demands in retail properties. a team of project developers,
architects and engineers works closely with the sales divisions
of MeTRo GRoUp as well as with external customers.
Joint venture for centre management
In 2011, MeTRo pRopeRTIes transferred centre management
in Germany to a joint venture with the Hamburg-based
property developer eCe. Both partners hold an equal stake in
the new MeC MeTRo-eCe Centermanagement GmbH & Co. KG,
based in Düsseldorf. at the end of the financial year, the company
was managing 38 shopping centres in Germany. By
undertaking this merger, MeTRo pRopeRTIes strengthened
the position of centre management in the German market and
opened new growth opportunities for it.
Energy efficiency as a job of the future
→ p. 055
For MeTRo GRoUp, the energy-related optimisation of its
locations is a long-range, strategic undertaking. By applying
this approach, the Group can respond to continuously
rising energy prices and achieve its goals of reducing the
impact of its business activities on the environment.
MeTRo pRopeRTIes develops concepts that enable
MeTRo GRoUp to lower its energy consumption and carbon-dioxide
emissions – such as using alternative energies
and renewable electricity production. The MeTRo GRoUp
energy Management system provides a basis for this concept.
In 2011, the Company made significant progress in its
work to expand the system, which centrally and uniformly