Norwegian shopping centre owners Salto and Scala merge

Norwegian shopping centre landlords Salto Eiendom and Scala Retail Property have merged their businesses to create Norway's fourth largest retail owner.

Salto Eiendom and Scala Retail Property, which currently own a portfolio of 10 shopping malls each, will join their platforms as part of plans to become a leading player in the Norwegian shopping centre property industry.

The new combine, to be known as Scala Eidendom, will be led by 38-year-old executive Hans Jørgen Mørland, and will own a portfolio of 20 properties encompassing 250,000 m2 of space with an annual rental income of NOK 425 mln (€45 mln).

Shareholders include Norwegian grocery wholesale group Norgesgruppen with a 42% stake, and property landlords Fredriksborg (34%), and Schage Eiendom (24%).
'Our goal is to create the top environment for management, development and operation of shopping centers in Norway,' commented Mørland.


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