Finnish property investment firm Citycon swung to a loss of EUR 18.1 mln in the first quarter of 2009 from a profit of EUR 11.3 mln a year earlier due to a EUR -31.6 mln devaluation of its investment properties. Turnover grew by 3.6% year on year to EUR 45.9 mln in the first quarter of 2009, mostly as a result of growth in gross leasable area and active development of retail properties. The occupancy rate decreased to 95.3 % from 96% in the corresponding period last year.
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