Citycon is a leading owner, manager and developer of urban, grocery-anchored shopping centres in the Nordic region, managing assets that total almost EUR 4.5 billion. Citycon is No. 1 shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark. Citycon’s shopping centres are located in urban crosspoints close to where customers live and work, and with a direct connection to public transport, healthcare and municipal services.
Placed in the heart of communities, Citycon’s shopping centres cater for the everyday needs of customers. Citycon owns 44 shopping centres and 2 other retail properties. Of the shopping centres, 13 are located in Finland, 17 in Norway, 9 in Sweden, including Kista Galleria, 2 in Estonia and 2 in Denmark. In addition, Citycon leases and manages 12 shopping centres in Norway on behalf of other owners. Citycon’s shopping centres attract approximately 165 million visitors annually.
Listed on Nasdaq Helsinki (CTY1S) since 1988, Citycon Oyj maintains investment-grade credit ratings from Moody's (Baa1) and Standard & Poor’s (BBB). Citycon is a member of EPRA (European Public Real Estate Association). Citycon is recognized as a long-term player committed to sustainable shopping centre management.
Citycon: Enriching Everyday Life
Located in the hearts of urban areas, our multifunctional centres serve as true community hubs and meeting places where people come for everyday shopping, services, recreation and fun. Linked to easily accessible public transportation, our modern shopping centres are easy to visit, lovely to stay.
Over 100 grocery stores: Our necessity-based shopping centres provide everyday convenience, as they are anchored by grocery stores and other daily shopping and services.
As part of a modern lifestyle, people want to combine shopping with other experiences. FB, cinemas, theatres, game studios, bowling, and many other entertainment services are growing areas in the shopping centre tenant mix.
The share of online-resilient tenants’ sales 60%: Broader offerings of food and beverage are an increasingly important part of a shopping centre visit. We have steadily raised the share of FB in the tenant mix. Our centres host many global and local café and restaurant brands that offer a great variety of different cuisines and tastes.
Municipal services such as libraries, public service points and health care centres are a growing element in our shopping centres. Public services are easily and conveniently accessible to people when they are located in shopping centres. They also bring steady customer flow to the centres.
Our shopping centres offer a wide variety of health, well-being and beauty services. Public and private medical and dental health services, gyms, pharmacies as well as beauty parlours, hair salons and cosmetics shops are an essential part of the shopping centre offering.
700,000 registered customers: In addition to our physical premises, we engage our customers digitally. Our mobile application provides us and our tenants with an additional touchpoint to interact with shopping centre customers by offering them benefits and offers.
Well-known and strong fashion brands form one of the cornerstones of an attractive retail mix. Many Citycon shopping centres are anchored by a strong fashion offering.
Metros, trains, buses and tram lines are connected or even directly integrated into our shopping centres to drive footfall and make shopping centres easily accessible.
Drivers of Sustainability
Citycon can have an impact on the prevention and reduction of emissions through the management and development of its shopping centres. 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.
Citycon has made a strategic choice to pursue sustainable development. As a result of climate change and it's consequences, stricter regulation is expected in legislation on energy and emissions as well as taxation, and material costs are also expected to increase. Consumers are becoming increasingly eco-conscious, and both tenants and investors expect action in these matters. Furthermore, Citycon's strategic choices have been guided by the keen interest expressed by different stakeholder groups and their demands for operational transparency. Employees' appreciation concerning environmental, health and safety issues is growing. The main motivations for promoting sustainable development include cost-efficiency and competitive advantage.
Community and Companionship
Citycon’s shopping centres are located in urban crosspoints close to where customers live and work, and with a direct connection to public transportation, healthcare and municipal services. Libraries, health care centres, home care units and even chapels complement the shopping centre service portfolio.
The daily operations of Citycon’s shopping centres take into account local partners and representatives, such as residents’ associations and charities. Forms of local cooperation with them vary from centre to centre. Local partners and representatives are also included in the planning and implementation phases of development projects.
Citycon takes care of protecting the environment of its neighbouring areas by implementing all of its shopping centres' construction and development projects in a sustainable manner, and in line with the principles underlying environmental classification. Some of Citycon’s shopping centres and their environments are valuable in terms of their cultural history or construction heritage, which must be upheld alongside shopping centre development and expansion projects.
Meet the CEO
Marcel Kokkeel, CEO:
“At Citycon, we believe that operating sustainably is a key cornerstone in creating long-term value. We are committed to sustainable development, high ethical principles, and contributing to the community in everything we do. We aim to take into account environmental aspects and well-being in the areas surrounding our properties.”
“Our stakeholder dialogue and engagement has revolved around including local communities and building capacity within shopping centres themselves, and we seek to engage both young and old in our work.”