Swedes´ decisive rejection of the euro single currency will cost Rodamco Europe 5 to 7 million. Despite this, Rodamco Europe will continue to expand in Sweden.
Financing Swedish shopping centers will cost 50 to 70 points more in krona compared to euro. The retail investor keeps the currency risk for changing rent from SEK to euro. Maarten Hulshoff, Rodamco Europe´s CEO: 'The rejection of the euro will cost us approximately a half percentage of our current assets in Sweden worth 1 billion euro. Despite the additional cost expanding in Sweden is still attractive because of consumer behavior. The expected net yield of the shopping centers is highest in our portfolio.Ã¢â¬Â