Scandinavia’s leading shopping centre company
Steen & Strøm is owned by Klépierre, the leading player in European retail real estate (56.1%) and ABP, the Dutch Pension Fund (43.9%).
Klepierre has 340 shopping centers under its administration which are visited by 1.5 billion annually.
An aggressive programme of investment, upgrading and renewal has been prepared to live up to customer expectations of a stimulating shopping experience. This is a vital part of maintaining our position as the customer’s shopping alternative of choice.
We will continually develop and improve our centres by:
- renewing and developing the total offer
- renovating and revitalising the centres
- maintaining a high level of activity
- making use of advantages of scale
Ownership of shopping centres
The ownership of shopping centres represents the greater part of Steen & Strøm’s business. Around 92 per cent of the group’s assets are related to this area. Shopping centres provide stable income at low risk. Steen & Strøm has entered into long term lease contracts – principally with large, soundly based retailers.
Development projects currently represent about 8 per cent of Steen & Strøm’s total worth. In view of the strong demand for shopping centres, development projects represent a niche which provides the company with competitive and profitable advantages. We have long experience and considerable competence in the development of shopping centres.