Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/58695
political, cultural and business leaders promote the enlightened development of European cities. To date, the founda- tion has invested some €25 million in ur- ban improvement projects. Last year Al- exander Otto received the Urban Land Institute Germany Leadership Award for sustainable development. The fast pace of the industry keeps Alexander Otto's juices flowing. "Glo- balization, mergers, e-commerce, con- sumers' changing habits, new brands, demographic changes — all of these are our daily challenges. The main one is to remain in the driver's seat." "With his experience at the helm of ECE, Alexander Otto is the perfect choice to head ICSC at this time," said Michael Kercheval, president and CEO of ICSC, "as Europe emerges from its most challenging economic times in 60 years." Four issues will test the retail real estate industry in coming years, says Alexander Otto. "The importance of equity will continue to increase," he said. "Older shopping centers are in dire need of refurbishment, the com- petition from e-commerce is growing, and not only is the retail industry more global and concentrated, but so is the asset management of large retail real estate." ECE has acquired several man- agement firms, among them Spain's Auxideico Gestión. The Otto family itself, similarly seeking to broaden its international scope, has invested in Beachwood, Ohio–based DDR, which owns and manages some 500 shopping centers across the U.S., Puerto Rico and Brazil. "We can learn a lot from our Ameri- can partners when it comes to social media and marketing mall space," said Alexander Otto, in a sort of echo of his father, who established ECE in 1965 af- ter visiting the U.S. and Canada and ex- pressing appreciation for the standards of customer service he witnessed. Even some who have not worked directly with Alexander Otto express admiration for him. "He has cemented ECE's position as the benchmark company for urban planning and re- vitalization of former landmark build- ings, turning them into vibrant market places," said Søren Brogaard, country manager at Danish development firm Steen & Strøm. Marcus Wild, CEO of SES Spar Eu- ropean Shopping Centres, who knows him well, concurs. "With his modern management style, Alexander Otto has formed a new management team at ECE that is enormously flexible and maintains the highest standards in con- temporary center development — in terms of innovative architecture and leasing partner advancements — without neglecting the tried and true strengths of ECE," said Wild. SCT 58 SCT / APRIL 2012