H&M to open its first three stores in Estonia

The developer and manager of retail properties Citycon and the Swedish clothing retailer Hennes & Mauritz (H&M) signed an agreement on Wednesday whereby two new H&M stores will be opened in Tallinn in the fall of 2013. Citycon is the owner of the Rocca al Mare, Kristiine and Magistrali shopping centres in Tallinn.

In addition, Catella Corporate Finance OÜ, a holding of the Swedish real estate group CA Fastigheter AB, will open a Hennes & Mauritz (H&M) store and a Rimi supermarket in the former post office in downtown Tallinn in fall 2013.

H&M and Rimi are the first tenants of the new shopping centre to be set up in Tallinn’s former central post office, head of the company’s Estonian branch Andreas Claesson said. “As Swedish investors, we are especially pleased to play a part in H&M’s entry into Estonia,” he said.

The company is at present looking for tenants for the rest of the building.

Source: Estonian Review

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