Wikipedia

Citycon

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
  • Increase €321 million (2024)
  • €290 million (2023)
  • Increase €30 million (2024)
  • €−38 million (2023)
  • Increase €−38 million (2024)
  • €−115 million (2023)
Total assets
  • Increase €4.303 billion (2024)
  • €4.208 billion (2023)
Total equity
  • Decrease €1.858 billion (2024)
  • €1.987 billion (2023)
OwnerGazit-Globe (49%)
Number of employees
  • 237 (July 2023)
Websitewww.citycon.com
Footnotes / references
[1][2]

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.[3] 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.[4]

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

History

[edit]

Citycon was founded in 1988 by the Insurance Company Sampo Pension Ltd, Imatran Voima Oy, Rakennustoimisto A. Puolimatka Oy and Postipankki.[5]

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.[6][7] Notably, in 2015, Citycon acquired Norwegian shopping centre operator Sektor Gruppen, making it the largest listed shopping centre company in the Nordics.[8]

In November 2025 the principal owner, G City, made an offer to take the company private at €4.00 per share.[3]

References

[edit]
  1. ^ "Tilinpäätös - Citycon (CTY1S)". Kauppalehti (in Finnish). 2026-01-27. Retrieved 2026-01-27.
  2. ^ "Citycon Oyj (CTY1S.HE) Balance sheet". Yahoo! Finance. Retrieved 2026-01-27.
  3. ^ a b "Ostotarjoukset | Kauppakeskuksia omistavasta Cityconista tehtiin ostotarjous". Helsingin Sanomat (in Finnish). 2025-11-03. Retrieved 2026-01-06.
  4. ^ "This is Citycon". Citycon. Retrieved 2026-01-06.
  5. ^ "Citycon annual report 2001" (PDF). March 2002. Retrieved 2026-01-06.
  6. ^ Nurmi, Esko (2005-05-20). "Citycon laajensi Ruotsiin". Helsingin Sanomat (in Finnish). Retrieved 2026-01-06.
  7. ^ "Citycon: tahame Rocca al Mare laienemisega alustada veel sel aastal". Äripäev (in Estonian). Retrieved 2026-01-06.
  8. ^ Pietiläinen, Tuomo (2015-05-26). "Citycon ostaa historiansa suurimmalla kaupalla kiinteistösijoittajan Norjasta". Helsingin Sanomat (in Finnish). Retrieved 2026-01-06.


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