Citycon

Last updated
Citycon Corporation
Company type
Industry
Founded1988;38 years ago (1988)
Headquarters
Espoo, Uusimaa
,
Finland
Key people
  • Chaim Katzman (Chairman)
  • F. Scott Ball (President and CEO)
  • Sakari Järvelä (CFO)
Revenue
  • Increase2.svg€332 million (2016)
  • €296 million (2015)
  • Increase2.svg€224 million (2016)
  • €149 million (2015)
  • Increase2.svg€160 million (2016)
  • €109 million (2015)
Total assets
  • Increase2.svg€4.901 billion (2016)
  • €4.664 billion (2015)
Total equity
  • Increase2.svg€2.311 billion (2016)
  • €2.246 billion (2015)
Owner Gazit-Globe (49%)
Number of employees
  • 237 (July 2023)
Website www.citycon.com
Footnotes /references
[1]

Citycon Oyj is a Finnish real estate investment company that owns, develops, and manages urban centers and other commercial properties in Finland, Norway, Sweden, Estonia and Denmark (formerly also in Latvia & Lithuania). The company primarily rents its premises to retail, service and office tenants and has also rental apartments. As of December 2025, Citycon owns 28 urban centres. [2] Of the urban centres 9 are located in Finland, including Iso Omena, 10 in Norway, 6 in Sweden, including Kista Galleria, 1 in Estonia (Rocca al mare) and 2 in Denmark. Citycon’s centres attract approximately 125 million visitors annually. [3]

The company is listed on the Main List of the Helsinki Stock Exchange.

History

Citycon was founded in 1988 by the Insurance Company Sampo Pension Ltd, Imatran Voima Oy, Rakennustoimisto A. Puolimatka Oy and Postipankki. [4]

Beginning in 2005, Citycon initiated its international expansion by acquiring properties in Sweden and Estonia, followed by further growth into Lithuania, Norway, and Denmark over the next decade. [5] [6] Notably, in 2015, Citycon acquired Norwegian shopping centre operator Sektor Gruppen, making it the largest listed shopping centre company in the Nordics. [7]

In November 2025 the principal owner, G City, made an offer to take the company private at €4.00 per share. [2]

References

  1. ↑ http://www.nasdaqomxnordic.com/shares/microsite?Instrument=HEX24249&symbol=CTY1S&name=Citycon%20Oyj
  2. 1 2 "Ostotarjoukset | Kauppakeskuksia omistavasta Cityconista tehtiin ostotarjous". Helsingin Sanomat (in Finnish). 2025-11-03. Retrieved 2026-01-06.
  3. ↑ "This is Citycon". Citycon. Retrieved 2026-01-06.
  4. ↑ "Citycon annual report 2001" (PDF). March 2002. Retrieved 2026-01-06.
  5. ↑ Nurmi, Esko (2005-05-20). "Citycon laajensi Ruotsiin". Helsingin Sanomat (in Finnish). Retrieved 2026-01-06.
  6. ↑ "Citycon: tahame Rocca al Mare laienemisega alustada veel sel aastal". Äripäev (in Estonian). Retrieved 2026-01-06.
  7. ↑ Pietiläinen, Tuomo (2015-05-26). "Citycon ostaa historiansa suurimmalla kaupalla kiinteistösijoittajan Norjasta". Helsingin Sanomat (in Finnish). Retrieved 2026-01-06.


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