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| Vinci Park to manage 70 car parks in Germany Vinci Park has been awarded a contract by Karstadt Quelle, in the framework of a 15-year leasing contract, to operate 70 car parks in 40 German towns covering a total of approximately 20,000 parking spaces. This contract fits with the strategy of Karstadt Quelle, Germany's largest department store chain, to outsource management of its car parks. Vinci Park has undertaken to invest around 40 million euros to modernise this portfolio of car parks and hopes to generate revenues of around 45 million euros/year. This network is located in city-centre shopping districts in the big cities (notably Berlin, Hamburg, Munich, Cologne, Frankfurt, Dusseldorf and Stuttgart), in out-of-town shopping districts in Berlin, Hamburg and Munich, and in mid-sized towns. The contract brings the total number of parking spaces managed by Vinci Park to 860,000 (x in France, y outside France), representing growth of 8.6% since the beginning of 2006. write your comments about the article :: © 2006 Construction News :: home page |