Finland. Citycon Oyj
| Date of agreement: | 24 Jun 2008 |
|---|---|
| Country: | Finland |
| Customer: | Citycon Oyj |
| Amount in EUR: | EUR 30 million |
| Maturity: | 10 years |
| NACE sector / loan type: | Real estate activities |
Project
The 10-year-maturity loan totalling EUR 30 million has been provided for the development of a shopping centre in the district of Liljeholmen south of downtown Stockholm. The new shopping centre will follow strict environmental standards and apply a whole building approach for sustainable property development.
Citycon is aiming for the international LEED rating (Leadership in Energy and Environment Design) for the construction of the shopping centre. The LEED rating requires, among other things, sustainable site development, water savings, energy efficiency and environment-friendly choices of materials and resources.
The shopping centre in Liljeholmen is in the midst of a growing residential area with excellent public transportation connections. The building work on the new shopping centre started in May 2007 and will be finalised in late 2009.
Sustainability summary
There are a number of environmental advantages with the new retail centre in Liljeholmen compared to the base case retail centre development. The main advantages are its location in a densely populated urban area, its small ecological footprint and with excellent public transportation connections by subway, bus or tram. Another advantage is the use of district cooling and heating and energy-efficient design practices.
