PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Finnish Citycon swings to loss but sees net rental income up in 2009
Helsinki-listed Citycon, Finnish shopping centre developer and manager, swung to a pre-tax loss of e162.3m last year from a profit of e254m in 2007 but said net rental income from like-for-like properties rose 3.6% over the year. Pre-tax profit was hit by a 9% slide in the value of investment properties to e2.02bn, but turnover grew by 17.7% to e178.3m. "The company expects its net rental income to increase in 2009 from the previous year based on completed and ongoing extension and redevelopment projects," said CEO Petri Olkinuora