The groundbreaking for the new Mölndal Galleria and the transformation of Mölndal’s city centre took place yesterday, 27 August in a ceremony held on the construction site. The event was jointly organised by Citycon, NCC, Riksbyggen and MölndalsBostäder, the four companies investing in the renewal of Mölndal city centre.
“We are pleased that construction of Mölndal Galleria has now started. The interest from tenants has been high and today more than half of the the retail space is leased including anchors such as H&M, Systembolaget and Lindex as well as a large Ica grocery store. Although the main focus will be on retail, the shopping centre will also become a meeting place for residents and visitors through its offering of services, restaurants and cafés," says Nils Styf, Chief Investment Officer at Citycon.
Central Mölndal is currently being given a complete makeover. The city centre will feature 400 brand new apartments and refurbished inner city streets and squares. The old shopping centre is being demolished to make way for a new, state-of-the-art shopping centre with over 70 shops, 24,000 square metres of retail space and parking spaces for more than 800 cars.
Mölndal Galleria is being (re)developed in a joint venture between Citycon (50%) and NCC (50%). Citycon will acquire NCC's share of the shopping centre when the project is completed, and is investing a total of approximately EUR 120 million. The new shopping centre is scheduled to open in 2018. In addition to Mölndal Galleria, NCC is also currently building the new SCA head office next to the shopping centre and 145 apartments for Riksbyggen. In addition, Mölndalsbostäder invests in 200 new apartments in the city centre.
"NCC’s strength is to develop attractive urban environments that combine workplaces, housing, retail and services, thereby leading to a city centre that is both sustainable and attractive. We are now taking the next step towards a more attractive city centre in Mölndal," says Johanna Hult Rentsch, Regional Manager at NCC Property Development.
"The increase in retail volume that is going to be generated by the new shopping centre will be very positive for Mölndal's long-term appeal, both for people wanting to settle here and for companies looking to establish an office in Mölndal," says Marie Östh Karlsson, Mayor of Mölndal Municipality.
Citycon and NCC have chosen to submit the Mölndal Galleria project for BREEAM certification (a global environmental and sustainability standard) and expect to obtain a Very Good rating.
“Mölndal Galleria's location right in the heart of Mölndal city centre, close to the Mölndalsbro transport hub—which is serviced by trains, buses and trams—will make it easier to travel green. Mölndal Galleria will also feature electronic signboards displaying public transport departures, around twenty charging stations for electric cars, and plenty of bicycle parking," says Nils Styf.
Helsinki, 28 August 2015
For further information, please contact:
Nils Styf, Chief Investment Officer
Tel. +46 733 50 60 39
Citycon Oyj (Nasdaq Helsinki: CTY1S) is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic and Baltic regions, managing assets that total approximately EUR 5 billion and with a market capitalisation of approximately EUR 2 billion. For more information about Citycon, please visit www.citycon.com