CITYCON OYJ Stock Exchange Release 8 June 2006 at 3.00 p.m.
Citycon to Build a Retail Centre in Kaarina
Today, Citycon agreed with YIT Rakennus Oy to build a new retail centre in
Kaarina, five kilometres from downtown Turku, in the district of Piispanristi
which is occupied by other retailers as well, such as the Prisma hypermarket.
The site has permitted building rights for a total of around 7,500m², some
5,600m² of which will be used to construct a retail building for Tokmanni Oy.
Citycon has concluded a ten-year lease with Tokmanni Oy for premises within the
building and a covered outdoor shopping area of 700m². This is Citycon's first
lease agreement with Tokmanni Oy. Tokmanni Oy is a Finnish retail company
operating currently more than 100 stores including, among others, such concepts
as Tokmanni, Tarjoustalo, Maxi-Makasiini, Säästötalo Robinhood and Vapaa Valinta.
Tokmanni's estimated total sales for 2006 are EUR 500 million.
The project investment totals around EUR 8.2 million and net return on the
investment is 6.7 per cent. Construction of the building for Tokmanni Oy is
scheduled for completion by 1 March 2007. The remaining permitted building rights
will be exercised at a later stage of the project.
The completion of this retail building project will strengthen Citycon's position
in the Turku region.
Helsinki, 8 June 2006
CITYCON OYJ
Petri Olkinuora
CEO
For further information, please contact:
Petri Olkinuora, CEO
Mobile +358 400 333 256
Harri Holmström, Chief Investment Officer
Mobile +358 40 845 5726
Citycon is the Finnish market leader in the shopping centre business. It owns a
total of 18 shopping centres in the Helsinki Metropolitan Area and other regional
centres of Finland, and nine shopping and retail centres in the Stockholm and
Gothenburg regions in Sweden. In the Baltic countries, Citycon owns the Rocca al
Mare shopping centre in Tallinn, Estonia and the Mandarinas shopping centre in
Vilnius, Lithuania.
In addition to the shopping centres, Citycon owns 127 supermarket and retail
premises in Finland.
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Helsinki Stock Exchange
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