Danica Pension, the investment arm of Denmark's Danske Bank, has announced it is developing the country's second outlet centre.

The 16,000 m2 Copenhagen Designer Outlets, designed by award-winning architects Haskoll, is located alongside the City 2 shopping centre on the outskirts of the Danish capital.

The project, due for completion in March 2013, will be undertaken by Danica Pension, in co-operation with its shopping centre management arm, Danica Ejendomme. UK-based designer outlet specialist Ream International has been appointed as the development, management and leasing consultant on the project.

The project will be Denmark's largest designer outlet centre and will be created in an existing enclosed environment to comprise some 80 store units. Danica Pension said.

It is estimated that Copenhagen Designer Outlets will attract some 1.5 million visitors in the first year.