Stock exchange release 16 June 2009 at 16:30
Citycon will sell the apartments under construction in connection
with the Liljeholmstorget shopping centre, located in Stockholm, to
Heba Fastighets AB for approximately SEK 176 million (approx. EUR
17.6 million). The apartments to be built have been incorporated into
a separate real estate company, and detached from the shopping
centre. The total number of apartments is 72 and the leasable area
totals some 6,100 m2. The apartments to be built in Liljeholmen are
rental apartments and, currently, they are under construction in
three stories above the shopping centre. Citycon will bring the
residential development to an end and the deal is expected to be
finalised in April 2010 after the completion of the apartments.
"We are pleased that the deal will bring us a good business partner
to Liljeholmstorget shopping centre," says Petri Olkinuora, Citycon's
CEO. "The building permit required the construction of apartments in
connection with the shopping centre. We were planning to sell the
apartments from the very beginning, since Citycon concentrates on
retail premises, particularly on shopping centres and rental
apartments are not part of the Citycon strategy," he continues.
The construction of Liljeholmstorget shopping centre is Citycon's
largest development project ever. Citycon launched the construction
work in May 2007 and the shopping centre will be opened in October
2009.
Stockholm, 16 June 2009
CITYCON OYJ
Petri Olkinuora
CEO
For additional information, please contact:
Petri Olkinuora, CEO
Telephone +358 20 766 4401 or +358 400 333 256
petri.olkinuora@citycon.fi
Ulf Attebrant, Vice President, Swedish operations
Telephone +46 8 5228 0313
ulf.attebrant@citycon.com
Distribution:
NASDAQ OMX Helsinki
Major media
www.citycon.fi
The Liljeholmstorget shopping centre in numbers
+-------------------------------------------------------+
| Summary | |
|----------------------------------------------+--------|
| Total costs, EUR million | 180 |
|----------------------------------------------+--------|
| Total area, sq.m. | 91 000 |
|----------------------------------------------+--------|
| Leasable area, sq.m. | 77 800 |
|----------------------------------------------+--------|
| Retail premises, sq.m. | 28 000 |
|----------------------------------------------+--------|
| Residential premises, sq.m. | 6 100 |
|----------------------------------------------+--------|
| Office and health centre premises, sq.m. | 12 300 |
|----------------------------------------------+--------|
| Parking hall, sq.m. | 32 400 |
|----------------------------------------------+--------|
| Number of parking spaces | 900 |
|----------------------------------------------+--------|
| Number of stores and restaurants, approx. | 90 |
+-------------------------------------------------------+