Citycon's Board of Directors has today approved an investment proposal of approximately €27 million (SEK 247 million) concerning the extension and refurbishment of the Åkersberga shopping center in the Stockholm Metropolitan Area, Sweden. The project will involve extending the leasable area of the shopping center by approximately 9,000 m², modernising the existing premises, and developing the shopping center's service structure.
In July 2005, Citycon acquired 75% of the company (currently called Åkersberga Centrum AB) owning the Åkersberga shopping center from Armada Fastigheter AB, owned by the Österåker municipality. The extension and refurbishment project has been prepared in close collaboration with the Österåker municipality and Armada Fastigheter AB. The project will be implemented by Åkersberga Centrum AB. The total investment of the project will be approximately €36 million (about SEK 329 million).
"Our aim is to make Åkersberga Centrum a cosy shopping center for residents of the growing Österåker municipality that better caters for customer needs. The shopping center will provide an ever-widening range of services for the daily needs close to home," states Petri Olkinuora, Citycon Oyj's CEO.