Iso Omena to be expanded to nearly 100,000 square metres

Press releases - 18 March 2015


 CITYCON OYJ          Press release              18 March 2015



 

 The Iso Omena shopping centre and the connected Matinkylä Metro station have reached their rooftop height. The first phase of Iso Omena’s extensive extension will be completed in August 2016.



 Once complete, the extended Iso Omena will be one of the largest shopping centres in Finland. When fully completed in 2018, Iso Omena will comprise nearly 100,000 square metres of leasable area and will have over 200 shops and service units. The final metro station of the first phase of the Länsimetro (western metro line) and the bus terminal for connecting traffic will be fully integrated and located underneath the shopping centre. 



 “By investing approximately EUR 250 million in the Iso Omena expansion project, Citycon demonstrates that it is committed to invest in best in class properties in growing urban areas in Finland.  Iso Omena has an excellent location: it is a multifunctional centre with shopping, healthcare, education and other municipal services integrated with a strong public transportation hub. The new transportation hub with the new metro station and bus terminal will generate 35,000 potential customers per day. This makes Iso Omena a natural destination for international brands coming to Finland as well keeping its position as the true heart of the local community,” states Citycon CEO Marcel Kokkeel.



 In her speech at the topping out ceremony, Paula Risikko, Finland’s Minister for Transport and Local Government, commented:

 

 “The Länsimetro is an excellent example of how central and local government can work together to coordinate land use as well as housing and transport provision. The Iso Omena extention and Matinkylä Metro Centre will benefit not just local residents but everyone in the capital region.”



 “The shopping centre extension project and Matinkylä Metro Centre are some of the most significant construction projects currently underway in Finland. At NCC, we have significant expertise in developing sustainable, tailored solutions for both shopping centres and residential properties and are delighted to contribute our know-how to this initiative. The commercial properties are being let in collaboration with Citycon. NCC has also launched an off-plan marketing campaign for a residential tower, located immediately adjacent to the shopping centre and its many services,” reveals NCC Property Development CEO Mika Soini. 



 “Although Länsimetro is the largest investment made in Espoo, it is not simply a metro line we are building, but everything that is made possible by the metro line in the future. The Länsimetro growth and development corridor, in which the Matinkylä metro station plays a significant role, offers a good basis for winning back the skill- and knowledge-intense businesses and jobs that Finland has lost, along with developing the best innovation environment in Europe and constructing a city structure supported by rails,” states Jukka Mäkelä, Mayor of Espoo. 



 Citycon and NCC Property Development are constructing the first phase of the Iso Omena extension in a joint venture. Länsimetro is constructing the connecting bus terminal and the commuter parking facilities. 



 

 

 Helsinki 18 March 2015.

 

 CITYCON OYJ

 

 Additional information:

   



 Marcel Kokkeel, Chief Executive Officer (CEO)

 Telephone +358 20 766 4521 or +358 40 154 6760

 marcel.kokkeel@citycon.com

 

  



 Citycon Oyj (NASDAQ OMX: CTY1S) is the leading owner and developer of urban grocery-anchored shopping centres in the Nordic and Baltic countries. The company manages assets that total approximately EUR 3.3 billion and its shares have a market value of approximately EUR 1.5 billion. For more information about Citycon, please visit www.citycon.com



  

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