Zsar Outlet Village

Now under
construction


8.5 million
customers
within a 200 km radius

 

6,6 million
border crossings through the nearest border stations in 2016
(Source: Finnish Border Guard)

 

10% increase in border crossings expected in 2017
 

With its 120 premium brand stores, restaurants, cafés and other leisure services, Zsar Outlet Village will attract millions of affluent customers from both Russia and Finland. It is situated right next to the EU−Russian border in South-Eastern Finland, only 200 km from the fourth largest city in Europe, St. Petersburg, and 170 km from the Finnish capital Helsinki. Zsar has a catchment area of 8.5 million people within a 200 km radius.

Zsar Outlet Village will include 20,000 m2 leasable area, and it will be opened in 2019-2020. The first phase - 12,000m2 - will be opened in 2018.

It is located just 300 metres from the nearest EU−Russian border crossing at Vaalimaa, and a one-hour hour drive from the other major border crossings at Nuijamaa, Imatra and Vainikkala. According to the Finnish Border Guard, 6,6 million tourists crossed the EU−Russian border in the South-Eastern Finland in 2016, and by 2017, this is estimated to increase by 10%.

74 % of Russians say their primary reason for coming to Finland is shopping, in part due to tax free prices. Zsar will fill the gap in the relatively scarce premium retail market in the region, thus offering brands a unique business opportunity − in one of Europe's most secure business environments and with a huge potential from growing Russian tourism.

Zsar Outlet Village gives brands the unique opportunity to target the Russian consumer without any of the risks and concerns of operating in Russia.

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Excellent location right on the border between the EU and Russia

3070% discount
on the retail prices

In addition, tax free prices
for Russians and other non-EU citizens

A secure trading location
inside EU borders

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Facts & Figures

ON AVERAGE, ONE RUSSIAN TOURIST SPENDS
325 EUR/VISIT
(Soure: Research and analyst company TAK Ltd.)

€7,800/m2
ESTIMATED ANNUAL SALES
(Source: Ken Gunn, FSP Retail Business Consultants)

€150M
ESTIMATED ANNUAL REVENUE in 2018
(Source: Ken Gunn, FSP Retail Business Consultants)

According to the Russian Federal State Statistics Service, Finland is the number one destination country for Russian tourists. Most of the Russians coming to Finland come in their own cars or by shuttle bus via the border crossings near the Zsar Outlet Village. According to a survey by the research and analyst company TAK Ltd, 74% of them say their primary reason for coming to Finland is shopping - due to a wider and better quality brand selection as well as affordable prices. Russians will enjoy tax free shopping in the Zsar Outlet Village, which will represent a great retail opportunity for premium brands.

The Zsar Outlet Village region is a historical vacation resort for the Russian Tsars, and the features of its tsarist heritage are represented in the architecture and appearance of the project. Due to its concept, active destination marketing and year round family events, Zsar provides a unique shopping experience in the Northern Europe.

Download our presentation (pdf)

20,000 m2
 by 2018

1st phase 12,000 m2

110-120 company stores

2nd phase 8,000 m2

70-200 m2/store

1,000 parking spaces

 

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Location

Location of the Zsar Outlet Village on the EU-Russian border in Finland

The Vaalimaa area is rapidly becoming a hot spot between Russia and Finland due to its main gateway location. Every day thousands of Russian tourists pass through the Vaalimaa border control just 300 metres from Zsar Outlet Village. In addition, other major border stations at Nuijamaa and Imatra are located one hour north of Zsar.

The area around Zsar is quickly growing into a true family and shopping destination with several other attractive shopping and leisure activities currently under development.

A new direct motorway from Helsinki to Vaalimaa is currently under construction, mostly completed ahead of time and will be fully open in 2018. After the motorway is completed, the driving time from Helsinki will be about 75 minutes. In addition, a direct motorway from St. Petersburg to the border will open in 2018 and reduce the driving time to under 2 hours.

The premium shopping destination
on the EU-Russian border

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Our team

Management

 

Sami VainiomäkiSami Vainiomäki
CEO
sami.vainiomaki@efre.fi
+358 40 833 8793

 

Sami is a founding partner and CEO of East Finland Real Estate Ltd, the development company of the Zsar Outlet Village. Sami has a long experience in different senior director and CEO positions in several international organizations. Sami is an expert on sales and marketing, and he has over 20 years of experience in Russian business in various investment and business development operations.

 

Mikko SalmivuoriMikko Salmivuori
Partner, Member of the Board
mikko.salmivuori@efre.fi
+358 45 114 4114

 

Mikko has over 15 years of experience in investment banking, real estate investments and various business development projects. As a board member of one of the largest private equity houses of Finland, Mikko has been involved in several large investment projects in Finland and internationally.

 

Pekka LehtonenPekka Lehtonen
Marketing Director
pekka.lehtonen@efre.fi
+358 50 536 1713

 

Pekka has over 15 years of experience in international marketing and business development. For the last 10 years, he has focused on Russian business, helping numerous Finnish and international companies to adapt to the Russian market, to create their brand awareness, and increase their sales.

 

Pekka OlkinuoraPetri Olkinuora
Partner, Chairman of the Board, Senior Advisor
petri.olkinuora@forbia.fi
+358 400 333 256
 

 

Petri’s track record as the leading expert in shopping center development in Finland and the Baltics is undisputed. He has over 20 years of experience in real estate and shopping facility development and management. In his past he has worked as the CEO of Citycon Plc, the largest shopping mall and centre owner, operator and developer in Finland and one of the largest in Sweden and the Baltic States with total investment of well over EUR 2,5 billion in the region. Currently Petri holds several positions as a board member in various commercial real estate and engineering companies.

 

Janne TallgrenJanne Tallgren
Head of Construction
janne.tallgren@efre.fi
+358 400 438 367

Janne has nearly 30 years of experience in development, coordination and supervision of demanding real estate projects. Janne is in charge of Zsar’s construction as well as all shop fit-out related issues.

 

Pasi ViitaniemiPasi Viitaniemi
Project Management Consultant
pv@efre.fi
+358 40 705 3716

Pasi has almost 25 years of experience in various management and director positions in residential, office, logistics, and especially retail real estate construction projects. He has been in charge of the leading shopping centre and retail developments and extensions in Finland. Pasi will be responsible for coordinating Zsar’s construction process.

 

 

Consulting Partners for Development, Leasing and Operations

 

 

Neil ThompsonNeil Thompson
Board Director
TLC Property Asset Management Ltd
neil.thompson@tlc-assetmanagement.com
+44 (0)7771 947856

 

Formerly CEO of Fashion House Group and Partner of GVA Grimley Outlet Services, and Group Operations Manager at Freeport Plc., Neil has 14 years’ experience delivering increased value through highly successful leasing, asset and operational management throughout UK, Europe & CEE countries, as well as successfully leading the sales of outlet assets to institutional purchasers. Through TLC, Neil now brings his considerable skills and experience to the Zsar Outlet Village project.
 

Neil ChapmanNeil Chapman
Director
Chameleon Retail
neil@crc-retail.com
+44 (0)778 9200739

As the Owner of Chameleon Retail, Neil has over 20 years retail property experience in the development, leasing and asset management of Outlet Centres in UK, Europe and CEE, specialising in adding value to assets for Banks, Investors and Private Companies.

 

Petri PussinenPetri Pussinen
Architect
petri.pussinen@konttori.net
+358 400 633 022

 

Petri is a founder and CEO of Arkkitehtikonttori Petri Pussinen Oy, the head architect of the Zsar Outlet Village. Petri has over 20 years of experience of designing leisure properties such as multiplex cinemas, amusement parks and shopping facilities, department stores and malls.

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Tenant services

EASIER MARKET ENTRY

EFFICIENT BUSINESS OPERATIONS

BETTER CUSTOMER SERVICE

There are several services we can offer for our brand partners in helping them to begin and run operations in a cost efficient and reliable way.

Preopening tenant services

  • Store Operations Manual (Zsar rules and regulations), Vanilla Box specification and Shop Fitting Manual available on request
  • Brand specific retail market feasibility study by FSP available on request (find out why they are predicting €7,800 per sqm sales density)
  • Selected service providers for tenants’ market entry and company setup available
  • Highly competitive insurance package for tenants already negotiated
  • Selected service providers in legal counseling in place
  • Staffing services in place for recruiting bilingual staff
  • Selected Human Resources service provider in place
  • Selected contractors for shop fitting available if needed


Tenant services during operations

  • Staff training in retail academy provided by expert retailers (customer service, window displays etc)
  • On site / local storage and warehousing available
  • Comprehensive office services for tenants available
  • Marketing plan for the Finnish and Russian markets in place
  • Strong year-through event program for Finnish, Russian and Asian shoppers in place
     

Visitor services

  • Tax free refunds and money exchange services on site
  • Bus services from Helsinki city centre, the airport, high-speed train station and St. Petersburg city centre
  • Compelling one-day travel packages to Asian stopover tourists in partnership with Visit Finland, Finnair and other Finnish tourism companies under Stopover Finland Program

MORE FOOTFALL

INCREASED DWELL TIME

INCREASED SALES

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News

Luxury square at Zsar
9.10.2017
Armani has agreed terms for a 5-year lease on a 461m2 unit
Construction of Zsar
28.9.2017
Groundworks begin at Zsar's plot
Italian restaurant, american grill and coffee shop enter Zsar
28.9.2017
Leading Food & Beverage companies, luxury sunglass retailer and premium outdoor wear brand to open in Finland’s first outlet village
Test drillings for geothermal heating
15.8.2017
Finland's first outlet village takes a major step towards groundbreaking