The purpose of CPH City & Port Development is first and foremost to develop areas along the waterfront and in Ørestad, and to take charge of port operations in Copenhagen Port.
CPH City & Port Development is jointly owned by the City of Copenhagen (95%) and the Danish state (5%). The company was established in 2007 through a merger of Copenhagen Port Ltd. and the part of the Ørestad Development Corporation which dealt with the development of Ørestad. The Metro part of the Ørestad Development Corporation was simultaneously converted to Metroselskabet Ltd., which is responsible for the construction and operation of the Copenhagen Metro.
Under the auspices of the Ørestad Development Corporation, the value of the land in Ørestad was to be used to pay off part of the loan taken out to finance the construction of the first three stages of the Metro. The value of Copenhagen Port Ltd. is the Danish state's financial contribution to the future Metro circle line (Cityringen).
Instead of CPH City & Port Development regularly transferring funds to the Metro Company (Metroselskabet) to cover the financial contributions described above, it was agreed that CPH City & Port Development would make a single cash payment to the Metro Company to cover CPH City & Port Development's obligations in relation to the Metro. In this way, it was possible for CPH City & Port Development and the Metro Company to act independently.
CPH City & Port Development was therefore also established with a substantial debt. When the company repays its debt, therefore, it is helping to reduce some of the debt incurred by the construction of the Metro.
CPH City & Port Development is operated as a business. This means that the company must maximize value creation and work to repay the debt, which the company was established with. When CPH City & Port Development is sufficiently consolidated, an additional profit shall be paid to the owners. CPH City & Port Development has considerable know-how and expertise in the fields of urban planning, construction & building, land sale, rental, urban life and port operations.
In addition to land development and port operations, CPH City & Port Development can undertake other activities that have a business relationship with land development and port operations. The Company may fully or partially make land available for e.g. cultural purposes, and the company may establish subsidiaries or buy shares in other companies. However, this must occur on a commercial basis.
CPH City & Port Development's Vision and Mission.