Continued positive trends with improved footfall, higher consumer spending and rent collection for Citycon’s centres in May
CITYCON OYJ Press Release 26 June 2020
In the extraordinary circumstances following the outbreak of Covid-19 pandemic, Citycon continues to show strong result. The May rent collection remained stable and Citycon has collected and/or accrued as government assistance guarantees approximately 78% of its billed rent for the month of May.
100% of the centres are open and 97% of the stores are open for business. Footfall has continued to improve, and the total footfall for week 25 was tracking at 86% compared to 2019. Average spend per visitor continues above prior year level and was 29% higher in May 2020 compared to May 2019.
- We’re happy to see continued positive trends with improved footfall, higher consumer spending and rent collection, says F. Scott Ball, CEO. As a leading Nordic player, Citycon is operating in a very stable business environment. In addition, our business model proves to be strong, even in times of covid-19. Our necessity-based community centres with retail, municipal services and grocery stores/pharmacies are connected to public transportation which provides natural visitor flow, every day.
This press release follows the stock exchange release dated 25th June 2020.
For further information, please contact:
Vice President, Centre Management
Tel. +358 41 456 3421
Citycon is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic countries. The total value of the property portfolio managed by Citycon is approximately EUR 4.4 billion. Citycon is the leading shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.