Cinamon, the latest addition to Finland’s cinema market, will open its doors in REDI shopping centre
SRV GROUP PLC PRESS RELEASE 28 JUNE 2017, AT 12.20
Cinamon, the latest addition to Finland’s cinema market, will open its doors in REDI shopping centre
The pan-Baltic cinema chain Cinamon is making its way to Finland for the first time and will open a five-screen cinema in the REDI shopping and experience centre. Cinamon has signed an agreement to lease around 2,400 m2 in REDI’s entertainment court, which will open in autumn 2018. The new generation cinema will have a total of around 700 seats. The largest of the five screens will accommodate 220 viewers, the other screens around 120.
“We chose REDI because it is absolutely the most interesting shopping centre project in Finland at the present time. REDI is expected to be particularly attractive to families and millennials, who are also our most important target group. The cinema is expected to welcome around 250,000 visitors annually. Our goal is to expand in the Finnish market by opening cinemas elsewhere in the country,” says Tatiana Tolstaya, CEO of Cinamon Holding OÜ.
REDI, implemented by SRV at Kalasatama, Helsinki, will take Finland’s shopping centre market into a new era, offering not only a comprehensive retail offering but also new and surprising leisure-time and entertainment options, of which Cinamon is good example. Cinema chain Cinamon was founded in 2005, and it has a number of cinemas in the Baltic countries. The chain has been planning for a long time now to expand its operations into Finland, and in REDI it found precisely the premises it required. The new generation cinema is due to open in the SRV-implemented REDI in September 2018, at the same time as the opening of the shopping centre. In addition to Finnish films, Cinamon will also screen Hollywood films and the best of European cinema.
“Shopping centres are increasingly becoming meeting places – modern-day forums, where visitors like to have fun and stay longer. They are also seen as sources of experiences and entertainment. Cinamon’s entry into Finland is excellent news for us. The cinema will increase the shopping centre’s appeal, and I believe that visitors will also take the opportunity to pop into REDI’s restaurants and enjoy its other entertainment services,” says Pia Svensk, Commercial Director, REDI.
REDI shopping centre, which will open in autumn 2018, is an SRV own-development project, whose investor group includes Ilmarinen, OP Bank Group and LocalTapiola, in addition to SRV. The shopping centre’s construction work and leasing are proceeding according to plan, and around 60% of the premises have been leased on binding agreements. REDI will have over 200 shops and restaurants, and the shopping centre is expected to attract 12 million visitors in its first full year of operation. In addition to Cinamon, active negotiations are also under way with a number of other operators in the field of entertainment. REDI’s entertainment court has its own entrance, enabling longer opening hours than the shopping centre – also for those wishing to enjoy the delights of flying or the 7D virtual theatre. REDI will also be home to a climbing centre, which will include a 1,000 m2 training area and a 20-metre high climbing wall.
The leasing of REDI’s coffee and restaurant premises has also gone well. The shopping centre’s 38 restaurants, cafés , bars and take-away points, representing a total of 3,500 customer places, have already been leased out. REDI’s normal restaurant and entertainment court, open until late in the evening, will operate on a number of floors, linked to each other by elevators and escalators.
For further information, please contact:
Pia Svensk, Commercial Director, REDI, tel. + 358 50 389 0569
Tiina Niemi, Communications Manager, SRV, tel. +358 40 502 7549
Tatiana Tolstaya, CEO, Cinamon Holding OÜ, tel. +372 555 71 534
Toomas Luhats, Commercial Director, Cinamon Holding OÜ, tel. +372 515 5005
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REDI in brief
REDI, due to open in 2018 next to Finland’s mostly densely populated area, will have around 60,000 people living in its direct proximity, and there will be over 500,000 people, a third of the residents of Greater Helsinki, in its entire area of influence. REDI is located at the intersection of three busy highways, and the metro will stop 500 times a day on the third floor of the shopping centre. A number of bus lines will stop both on the third floor of the shopping centre and at street level. There will be 45,000 jobs within a ten-minute walk of the centre.
REDI, implemented by SRV at Kalasatama, Helsinki, will comprise the inner city’s largest shopping and experience centre and eight tower buildings. Below the centre will be a 2,000-space parking facility, usable by both the towers’ residents and the shopping centre’s customers. REDI’s popularity is not just restricted to business premises. Of the apartments in the first residential tower, Majakka, around 90% have been reserved. Construction work at REDI, Finland’s largest urban construction project, was launched in spring 2015 and is expected to continue until 2023. The shopping centre will open as a complete unit in autumn 2018.
Cinamon Cinema
Cinamon Holding OÜ, founded in 2005 and headquartered in Tallinn, Estonia, is a leading pan-Baltic cinema operator that currently operates 5 sites with 22 screens across the Baltic countries. In 2016 Cinamon served 1.25 million customers. The company’s turnover in 2016 was EUR 8.6 million, an increase of 7% from the year before. Cinamon employs a total of 110 people in Estonia, Latvia and Lithuania.