The Silicon Review
Our shopping centers are located in urban cross points close to where customers live and work, and with a direct connection to public transport, health care, and municipal services.
Citycon is a leading owner, manager, and developer of urban, grocery-anchored shopping centers in the Nordic region, managing assets that total almost EUR 4.5 billion. Citycon is No. 1 shopping center owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark. Placed in the heart of communities, Citycon’s shopping centers cater to the everyday needs of customers.
Citycon’s statutory bodies are the General Meeting of Shareholders, the Board of Directors and the CEO. In addition, the CEO is assisted by the Corporate Management Committee in the operative management of the company. Shareholders participate in the control and management of Citycon through resolutions approved at the General Meetings of Shareholders. The tasks and responsibilities of the different bodies are specified pursuant to the Finnish Companies Act and Citycon’s Corporate Governance Guidelines.
Citycon in brief
Citycon owns 40 shopping centers and 1 other retail property. Of the shopping centers, 14 are located in Finland & Estonia, 15 in Norway, 11 in Sweden & Denmark. In addition, Citycon leases and manages 10 shopping centers in Norway on behalf of other owners. Citycon’s shopping centers attract approximately 170 million visitors annually.
Listed on Nasdaq Helsinki (CTY1S) since 1988, Citycon Oyj maintains investment-grade credit ratings from Moody's (Baa2) and Standard & Poor’s (BBB-). Citycon is a member of the EPRA (European Public Real Estate Association). Citycon is recognized as a long-term player committed to sustainable shopping center management.
Citycon’s shopping centers are at the hearts of communities, where customers live and work. All of its shopping centers are connected to public transport. Citycon believes that operating sustainably is a key cornerstone in creating long-term value. The firm is committed to sustainable development, high ethical principles, and contributing to the community in everything it does. Citycon aims to take into account environmental aspects and well-being in the areas surrounding its properties. It will continuously look for opportunities to improve its environmental performance by reducing greenhouse gas emissions, energy use, and waste in all its operations. Citycon is committed to promoting the health, safety, security, well-being, and prosperity of the communities where we operate.
Citycon can have an impact on the prevention and reduction of emissions through the management and development of its shopping centers. The best ways of cutting greenhouse gas emissions in the sector are to improve the energy efficiency of buildings, to reduce energy consumption and to increase the use of renewable energy sources in the properties’ energy production and procurement. In (re) development projects Citycon carries out its projects according to international environmental certification processes in order to minimize construction-related environmental impacts.
Its stakeholders expect Citycon to act ethically and responsibly – do its business the right way. Citycon consistently complies with the applicable laws and regulations of its operating countries in the Nordic and Baltic region. Citycon’s Code of Conduct reinforces the company’s values and lays the foundation for its business operations, guiding its personnel to act both ethically and responsibly. By playing fair, with high ethical standards, the firm preservesits reputation and increase its success. Citycon’s strategy and activities take into account and reflect the ethical principles described in its Code. Additionally, Citycon is committed to embracing high ethical principles and have a continuous desire for being a reliable partner in each community and in all of its business activities.
“We aim to be the household name for Nordic shopping centers. The three focus areas of our strategy are right assets, retail experts and strong capital base.”