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New shopping centre projects forecast in Finland

16/09/2010

Rising purchasing power in the city of Salo requires major construction of retail premises, according to report.

By the year 2020, the increasing purchasing power of people living in the city of Salo in south-west Finland requires the construction of at least 23,000 square metres of new retail premises, according to consultant Tuomas Santasalo. He has carried out a study on the commercial prospects of the prosperous coastal city, which has about 55,000 inhabitants and is known internationally as a location for Nokia´s mobile phone industry and its subcontractors.

In recent history, several new shopping centres have already been constructed in Salo, with the construction materials and home decoration retail outlets enjoying particularly strong growth, according to Santasalo. He believes that major retail companies will soon be continuing their investments in Salo after a short pause.

Santasalo also estimates that by the year 2025, Salo will require 35,000-69,000 square metres of new retail premises. According to Jarmo Heimo, director of urban planning in Salo, the city should be ready for the further growth of the retail trade and not try to slow down the development.

Source: Salon Seudun Sanomat

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