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Acquisition of €120m Swedish shopping center for Сitycon



Citycon and NCC Property Development have signed a joint venture agreement to redevelop and let the Mölndals Galleria.
The old retail property will be demolished and the erection of a leasable area of 25000m² building is being planned. The municipality of Mölndal is co-operating on this new venture.
Mölndals Galleria

The new center will offer shoppers a range of 70 shops, service units and restaurants. Its daily necessity focus will be met with its grocery store anchor and other services for day-to-day needs. Construction is set to commence during 2015, once the zoning process has been finalized and the public opening target is planned for early 2018.

Both entities will take part in the project and NCC’s share will be acquired by Citycon on completion of the project. The total investment made by Citycon is estimated to be about €120m.

This acquisition fits into Citycon’s future plans to invest in daily needs urban shopping centers and to enhance their place and boost their share of Sweden in their portfolio. The project will also include new apartments and offices to serve the growing population in the area.

The Mölndals Galleria is the second shopping center project to benefit from the partnership of these two companies. NCC and Citycon are currently in the process of building an extension of 25000m² to the Iso Omena shopping center in Helsinki, Finland.

More about shopping malls in Sweden



Sep 22, 2022, France:
Palm Angels expands its geography and enters the French market with the opening of a store in Paris.
Sep 20, 2022:
The new retail space will appear in the trendy Garosu-gil neighborhood of Seoul.
Sep 19, 2022, Sweden:
The official opening of the flagship store at Drottninggatan 53 is scheduled for September 30, 2022.
Sep 16, 2022, South Korea:
The store will be located at Lotte World Mall in Seoul's Jamsil district.
Sep 15, 2022, USA:
Pontegadea is negotiating the purchase of distribution centers in Wisconsin and Pennsylvania.
Sep 14, 2022, Spain:
Sales of the Indetex Group increased by almost 25% for the first half of the year.
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