Nordicum - Real Estate Annual Finland 2019 | Page 36

P
Concept is King
SRV brings hybrid edge to its profile projects
– and renews focus on customer experience
In September 2018, Helsinki received its first experience-driven shopping center as REDI opened its
doors in Kalasatama, Helsinki. According to developer SRV, REDI is a new way to live, enjoy oneself
and shop in the middle of the city. Beyond SRV, the investor group includes also Ilmarinen,
OP Financial Group and LocalTapiola.
A
lot of shopping centers talk about
being “big on experience”, but
REDI really lives up to the prom-
ise by delivering, for example, a climbing
arena, a unique free-fall wind tunnel and,
located on the roof of the center, the green
deck Bryga, for the visitors.
Toni Kankare, Project Development
Director at SRV, says that REDI signifies a
strong trend in retail where “just shopping”
is an old hat. “The new retail mix includes
commercial elements, restaurants and cafés
and access to memorable experience.”
Furthermore, REDI has parking spaces
for 2,000 cars, including several hundred
electric cars, and initially for 1,500 bicy-
cles. There is convenient metro access to
the third floor of REDI. The appeal of the
“experience center” is enhanced by works of
art which go a long way to establish a gen-
uine identity for the center.
36 Nordicum
Don’t Believe the Hype
REDI has 63,000 square metres of leasa-
ble space, which makes it one of Finland’s
largest shopping centers. There are just over
200 leased business premises, occupied by
nearly 180 operators. Located at the inter-
section of the major highways Itäväylä and
Lahdenväylä, REDI has a footfall target of
12 million visitors in its first year.
During September alone, REDI had
350,000 visitors. However, the sales num-
bers at the center during the first months
have been rather mild, causing concern
in the ranks of the REDI entrepreneurs.
“Nevertheless, it’s still early in the game,”
Kankare points out.
“After each shopping center launch
– and the related hype – there is a plateau
of sorts in terms of activity and interest. It
is normal that some tenants leave and new
players come in.”
Eventually, a “second wind” of sorts
takes hold and the shopping center really
gets going. “Further honing the concept at
some point is often the way to go,” says
Kankare who is confident that REDI will
catch on in big way as more and more ­people
get acquainted with it.
Going Small?
Lately, Kankare has been occupied with
another shopping center project – this one
decidedly smaller. Shopping Center Karu-
selli opened its doors in downtown Kerava
on 1 November 2018. “With 26 stores (and
5,500 square metres), Karuselli represents
the more compact and agile sort of an ani-
mal,” says Kankare who’s been involved
with the project since its infancy.
“Karuselli is focusing on the every-
day, bringing the key services to the center