30 Most Valuable Companies to Watch 2020
A competent property management company increases the value of your investment, whether you own a rental property or have a home to sell. Any seasoned real estate investor will stress the importance of hiring a property management company for your real estate needs.
Citycon is a leading owner, manager and developer of mixed-use centres for urban living including retail, office space and housing. The company is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.4 billion.
Citycon centres are located in urban hubs with a direct connection to public transport. Placed in the heart of communities, its centres are anchored by groceries, healthcare and services to cater for the everyday needs of customers.
The firm owns 40 centres and 1 other retail properties. Of its centres, 12 are located in Finland, Estonia, 17 in Norway, 11in Sweden & Denmark. In addition, it leases and manages 10 centres in Norway on behalf of other owners. Citycon centres attract approximately 170 million visitors annually.
Listed on Nasdaq Helsinki (CTY1S) since 1988, Citycon Oyj maintains investment-grade credit ratings from Moody's (Baa3) and Standard & Poor’s (BBB-). The firm is a member of EPRA (European Public Real Estate Association).
Citycon and Sustainability
Citycon’s shopping centres are at the hearts of communities, where customers live and work. All of its shopping centres are connected to public transport. At Citycon, the team believes that operating sustainably is a key cornerstone in creating long-term value. Citycon is committed to sustainable development, high ethical principles, and contributing to the community in everything it does. Citycon quotes, “We aim to take into account environmental aspects and well-being in the areas surrounding our properties. We will continuously look for opportunities to improve our environmental performance by reducing greenhouse gas emissions, energy use and waste in all our operations. We are committed to promoting the health, safety, security, well-being and prosperity of the communities where we operate.”
Potential development projects
A core part of Citycon's strategy is to actively develop its shopping centres either via (re)developments or extensions. The objective is always to increase the commercial attractiveness and competitiveness of the shopping centre and thereby generate stronger rental growth while consolidating market value.
1) Kista Galleria is one of Sweden's largest and most successful shopping centres, boasting approximately 19 million visitors annually. With a vast number of shops and restaurants, cinema, bowling and municipal services, Kista Galleria is the heart of the local community. There are plans to extend the shopping centre towards the metro station to create a seamless connection with public transportation and additional space for new retail, groceries and services.
Location: Stockholm, Sweden
Completion target: 2023
2) Trekanten is a popular meeting place in a wealthy urban location in Asker. The selection of shops and healthcare services is diverse, and the centre is easily accessible with a public transportation hub in the immediate vicinity. The planned extension includes increasing the offering of shops and services as well as creating more visible and inviting entrances and improved circulation.
Location: Oslo, Norway
Completion target: 2022
3) The already established Lippulaiva is located in the rapidly growing and wealthy Espoonlahti area. A completely new, modern and urban shopping centre, double the size of the old centre, will be built in order to accommodate the new metro station and bus terminal. The new Lippulaiva will host around 80 different shops, cafés, restaurants and services in addition to municipal and healthcare facilities.
Location: Helsinki Area, Finland
Citycon Media offers you an easy tool to buy media and promotions
Citycon Media is a powerful out-of-home marketing platform to reach your customers in a shopping centre environment, close to the purchase decision. Citycon Media offers promotion spots and pop-up places, banners & boards, ad surfaces, digital screens, bundles and audio ads across its shopping centres in Finland, Sweden, Norway, Estonia and Denmark. Book your multichannel campaigns and promotion spots in its online store at Citycon Media.
Why Citycon Media?
Chaim Katzman, Chairman of the Board of Directors
He worked at Regency Centers Corporation as Vice Chairman of the Board of Directors since 2017 and as a founder and Chairman of Board of Directors 1992-2017, President and CEO 1992-2006 (company merged with and into Regency Centers Corporation in 2017).
“Leading Nordic shopping centre company, managing about 50 urban and sustainably operated assets across the Nordics.”