CITYCON OYJ Press release 9 March 2016
Citycon has launched an extensive project to introduce BREAAM In-Use certification for its shopping centres. So far, a total of 16 shopping centres owned by Citycon and four managed by the company have been granted the BREEAM In-Use certificate. Of these, eight are located in Norway, four in Finland, three in Sweden and one in Estonia. The BREEAM In-Use certified properties represent today 55% of Citycon’s portfolio measured by value. Citycon now boasts the largest shopping centre portfolio with BREEAM In-Use certification in the Nordic countries.
The certification project will continue and it is envisaged that 75% of Citycon properties will be BREEAM In-Use certified by 2017. Eight new certified properties are due for completion this spring in Norway alone.
“The BREEAM In-Use certificates provide us with a comprehensive overview of the environmental performance of our portfolio and a platform to make further improvements. BREEAM also allows us to benchmark our performance against industry best practice and to further enhance our property management practices,” Nils Styf, Chief Investment Officer at Citycon, commented.
Citycon has received praise for the location of its shopping centres, which are situated in urban areas, served by excellent public transport links. A central location is always one of the key criteria for Citycon when assessing potential properties.
Citycon’s shopping centres also have excellent waste management arrangements, with well-designed waste disposal areas and extensive recycling options. A number of innovative new solutions are also in place. At Kista Galleria in Stockholm, for example, biowaste from the shopping centre’s restaurants is used to generate fuel for buses producing each month enough fuel to power about 12,000 km of the local bus system’s operations.
Citycon has also increased the use of renewable energy and reduced its carbon footprint. Last year, Citycon purchased more than 100 GWh of green electricity. At Koskikeskus in Tampere, both heating and cooling is partly generated by the adjacent Tammer rapids. This has allowed Citycon to reduce the shopping centre’s bought-in heating energy consumption by 30% in 2015. At Jakobsbergs Centrum in Sweden a geothermal energy plant is due to be installed in 2016. Its heating and cooling deliveries will be almost fully based on geothermal energy.
For many years now, Citycon’s (re)developments have complied with environmental certification requirements and formal certification has been obtained for all major projects. In-Use certification is the logical next step for Citycon’s sustainability strategy that aims to deliver ongoing improvement across all its property management activities.
Citycon’s BREEAM In-Use certified shopping centres:
Norway (owned by Citycon): Glasshuspassasjen, Liertoppen, Kremmertorget, Kolbotn torg, Lietorvet, Kongssenteret, Sjøsiden and Heiane
Norway (managed by Citycon): Stadionparken, City Syd, Markedet and Torvbyen
Finland: Iso Omena, Koskikeskus, Myyrmanni and Trio
Sweden: Kista Galleria, Liljeholmstorget Galleria and Jakobsbergs Centrum
Estonia: Rocca al Mare
Helsinki 9 March 2016
For further information, please contact:
Johanna Kivelä, Sustainability Analyst
Tel: +358 40 761 1577
Nils Styf, Chief Investment Officer
Tel: +46 733 506 039
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 close to EUR 5 billion and with market capitalisation of approximately EUR 2 billion. For more information about Citycon, please visit www.citycon.com