Citycon is an active owner and long-term developer of shopping centres. The market leader in the Finnish shopping centre business, Citycon also has a strong position in Sweden, a firm foothold in the Baltic countries and one shopping centre in Denmark.
Citycon combines property investment with shopping centre business. This differentiates Citycon from many other real estate investment companies which principally focus on buying, selling and owning properties.
Citycon’s core operations in property investment include acquisitions and divestments carried out based on its knowledge of the local markets, sustainable property development and financing. These operations form the foundation of Citycon’s shopping centre business.
Shopping centre business refers to the management and development of Citycon’s products: shopping centres. In practice, this means ensuring that these shopping centres attract consumers, thus creating foundation for the tenant’s success. Key operations include leasing retail premises, and marketing and maintenance using Citycon’s own, local personnel. Citycon steers the management and development of shopping centres in a centralized manner, using common operating models and thus creating synergies. Knowledge of the local retail business, purchasing power and consumer behaviour enable success in competition between retail properties.
Citycon’s primary products are shopping centres. However, the company’s offering also includes other retail properties such as retail centres, supermarkets and other large retail units.