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2010-02-10 07:00:00 CET 2010-02-10 07:01:39 CET REGULATED INFORMATION Citycon Oyj - Company AnnouncementCitycon to redevelop the premises and renew the commercial concept of shopping centre Forum in Jyväskylä, FinlandCITYCON OYJ Stock Exchange Release 10 February 2010 at 8:00 hrs Citycon to redevelop the premises andrenew the commercial concept of shopping centre Forum in Jyväskylä, Finland Citycon Oyj is starting the complete interior redevelopment of the Forum shopping centre in downtown Jyväskylä, Finland, to provide a better commercial fit with consumer demand. The modernised Forum's offering will have a stronger emphasis on fashion and will provide a more versatile range of specialty stores, cafés and restaurants. Citycon will invest EUR 16 million in the project. The redevelopment work will cover the entire shopping centre, but focus on a 12,000 square metre section. During the project, the shopping centre's ambiance will be enhanced and more natural light will be allowed to enter. Internal access ways will be improved, for instance, by increasing the number of escalators and optimising their location. The construction project will begin immediately and the fully modernised Forum will open its doors in November 2010. Construction work will be conducted in stages, since most services remaining in the shopping centre will continue to operate normally throughout the renovation."Forum benefits from an excellent retail location in the heart of Jyväskylä, between the localbus terminal and the main shopping street. At the moment, the shopping centre attracts some 7 million customers, but its offering and premises must be able to meet the needs of today's consumers. The launched modernisation is intended to improve Forum's competitiveness and increase its commercial appeal," states Jukka Posti, Citycon's Property Development Director. Theredevelopment of the Forum shopping centre fulfills Citycon's strategy of developing centres with excellent locations. It is also in line with Citycon's strategy of sustainable development, which emphasises the development of shopping centres situated in key locations in city centres and district centres, strengthening the existing urban structure and enhancing the district's service offering. CITYCON OYJ Petri Olkinuora CEO For further information, please contact: Petri Olkinuora, CEO Tel. +358 20 766 4401 or +358 400 333 256 petri.olkinuora@citycon.fi Distribution: NASDAQ OMX Helsinki Major media www.citycon.com [HUG#1382511] |
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