The majority owner of Jumbo Shopping Centre Vantaan Valo has entered into a loan contract worth MEUR 225

Vantaan Valo Ky is the majority owner of Jumbo Shopping Centre. Vantaan Valo is owned equally by Elo Mutual Pension Insurance Company and Varma Mutual Pension Insurance Company.

The loan was granted by Nordea Bank Abp and OP Corporate Bank plc. The company received financial and debt counselling from Jones Lang LaSalle Finland Oy (JLL) and legal advice from Krogerus Attorneys Ltd.

The financial situation of Jumbo Shopping Centre is excellent. The company sees external financing as a normal practice of real estate investment business, and the loan is used to optimise the company’s capital structure. 

“We felt that the timing for contracting debt was perfect,” says Jukka Vakula, CEO of Vantaan Valo.

“The financing process was efficient and very successful. Many domestic and international financiers showed interest towards Jumbo, indicating Jumbo’s position as an outstanding shopping centre,” Vakula sums up.

Enquiries:

Jukka Vakula, CEO, Vantaan Valo, tel. +358 40 761 7287, jukka.vakula@vantaanvalo.fi

Jumbo’s majority owner is Vantaan Valo Ky, through which Finnish pension insurance companies Varma and Elo own shares in the shopping centre. The shopping centre’s hypermarket premises are owned by Kesko and HOK-Elanto. 

Located in Vantaa, Jumbo Shopping Centre is the largest shopping centre in Finland in terms of sales. Jumbo was awarded the Commercial Space of the Year recognition at the 2025 NCSC Nordic Awards. The shopping centre’s total leasable commercial area is over 140,000 square metres. Jumbo has 170 shops, restaurants, cafés, entertainment services, two hypermarkets, and 5,500 parking spaces. In addition, Jumbo has one of Finland’s largest hotels by number of rooms and a spa for the whole family. In 2024, the shopping centre’s sales were nearly MEUR 500 with over 12 million customers.