Scott Malkin, founder and chairman of London-based Value Retail, which specializes exclusively in the development and operation of high-end outlet shopping villages, is the new chairman of ULI Europe. He succeeds Alexander Otto, CEO of Hamburg-based ECE Projektmanagement, who served as ULI Europe chairman for the past two-and-a-half years.

ULI has nearly 30,000 members worldwide, including more than 2,000 in 16 countries across Europe. The institute’s European operations are run from offices in London and Frankfurt.

Malkin has been a ULI member since 1986 and is a current member of the Global Executive Committee of ULI. Otto will continue his association with ULI Europe as chairman of the ULI Europe Advisory Board, which helps develop ULI’s strategic direction in Europe.

Under Otto’s chairmanship, ULI’s European operations introduced the Urban Investment Network, which brings together leading cities, institutions, and the private sector to promote and facilitate investment in urban development, and LessEn, a program that encourages improved energy efficiency and retrofitting in commercial real estate. He was also instrumental in expanding ULI with the addition of a national council for Greece and Cyprus.

“Scott has played an active and significant role in ULI for well over two decades, serving the interests of members in numerous voluntary capacities and earning the respect of his industry peers for his leadership of Value Retail,” Otto said. “He is an outstanding choice for chairman, and his passion and energy will ensure that ULI continues to meet the demands of members and underlines the institute’s contribution to the performance of Europe’s cities and regions.”

Malkin noted that Otto has served ULI during a very difficult economic cycle. “That many ULI members have emerged stronger and more capable has much to do with the leadership and extraordinary efforts he has made in Europe,” Malkin said. “ULI has been an important contributor to what I have been able to accomplish in my career. ULI combines the vigor and relevance of a for-profit culture with the independence and integrity of a think tank for cities and regions.”

Malkin said he will focus on building on the excellent work underway, making ULI financially self-sufficient in Europe, and ensuring that ULI has an impact on the broader community about issues fundamental to its members and to the values and culture of the institute.

“As a leading voice and driver behind initiatives in Europe, Alexander is a tough act to follow,” said Joe Montgomery, chief executive of ULI Europe, “but we are fortunate to retain his counsel as chairman of the ULI Europe Advisory Board, a group of senior industry leaders from across Europe that provides crucial input and support for ULI’s European initiatives.

“Scott needs little introduction to ULI or to the industry. He has built Value Retail into a formidable and unique business by a single-minded proposition that is good for shoppers, good for tenants, and good for the communities around the retail villages. Already he has played a significant role in advancing our goal to help cities and regions tackle their long-term urban development challenges by instigating the ULI advisory panel at Maasmechelen, Belgium.”