The development company GVA Sawyer, implementing a large-scale project of integrated development of the territory in Finland «Kotka Old Port», has signed a contract for the management of the design outlet center of the project with the international operator Freeport.

Freeport – it is one of the world leaders in the development and management of outlet centers. Under the management of the company there are 14 operating outlet centers with a total area of 250 thousand sq. m. in 10 countries of the world. Today Freeport occupies a leading position in the Scandinavian countries, managing large outlet centers. 

Chief Executive Officer of Freeport Westin Roberts (Iestyn Roberts) notes: "Freeport highly appreciates the opportunity to become the operator of the designer outlet center Kotka Old Port. We are the oldest and one of the most successful managers of outlet centers around the world. This year we are opening new centers in France and Southeast Asia. Although our projects are located in different countries of the world, we have a special interest in the Nordic countries after we managed to create a particularly successful center in Sweden and successfully manage the Ringsted center in Denmark. Over the past 5 years, we have been looking for interesting opportunities in Finland. Outlets play a key role in helping brands realize the remaining stock and giving customers the opportunity to buy their favorite brands at attractive prices. Finland needs a high-class designer outlet center, and Kotka is the best place for it.

«Signing a contract with Freeport – this is an important milestone in our work on the construction project of the outlet «Kotka Old Port». The worldwide name of the operator, the experience of Freeport in the management of outlets and its marketing capabilities to its extensive customer base will be key elements ensuring the success of the project," commented Vera Setskaya, President of GVA Sawyer.

To date, the construction stage of the first stage of the outlet is underway, the total area of which will be almost 20 thousand sq. m. Among the tenants are leading international brands such as: Genny, Loriblu, Basile, Marville, John Ashfield, Caleffi and Sicilia’s Italian Restaurant, etc. The first stage of construction will be completed by the end of 2019. The volume of investments in the implementation of the first stage of the project will amount to 53 million euros. The project will be certified according to the BREEAM Communities system.

In addition to the outlet center, the project provides for the construction of hotel complexes under the management of international operators, a residential complex with its own infrastructure, retail premises, a children's entertainment center, a cinema, a walking area with restaurants and bars, etc. In the summer of 2017, the infrastructure of the project was replenished with elements under construction under the PPP scheme, such as the Technological University of Southeastern Finland and the sports and entertainment arena.

GVA Sawyer – an international consultant of the commercial real estate market and a full-cycle development company with more than 20 years of experience. The company's field of activity is providing a full range of services in the real estate market, including development, technical customer functions, construction management, brokerage services, consulting, project financing organization, project creation for the customer.

The portfolio of the company GVA Sawyer includes a number of successfully completed development and consulting projects for commercial, office, hotel and residential purposes. GVA Sawyer has offices in Moscow, St. Petersburg and Krasnoyarsk.

Photo: GVA Sawyer andshutterstock