Estonia, Good for Business, Markets and Companies, Retail

During the six months, 870,000 visits were made to the shopping center situated in the center of the Viimsi municipality bordering Tallinn to the northeast. The number of purchases made surpassed 910,000. The number of visits increased 6% and the number of purchases 7% compared with the first half of 2016.

Peeter Kutt, manager of Tallinna Kaubamaja Kinnisvara AS, said that the performance of Viimsi Keskus shows strong growth also in the second year of operation.

"Amid ever growing competition, we can see that in seeing to their daily chores people give preference namely to compact and diverse community shopping centers, where they can get quality services and goods fast," Kutt said.

Opened in August 2015, Viimsi Keskus serves as home to 40 stores, catering and service establishments on approximately 14,000 square meters and has a parking area with 300 spaces. During the first year of operation, the center received over 1.7 million visits and registered over 1.7 million purchases. Gross revenue in the first year of operation totaled 24 million euros.

Viimsi Keskus is part of the listed Tallinna Kaubamaja Grupp retail group.

Tallinna Kaubamaja Grupp posted a consolidated net profit of 25.7 million euros on revenue of 598.4 million euros for 2016.

·         Published: 23.08.2017 11:57