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Ikea to take world by storm

Anna Pakulniewicz 05 December 2018
WORLD Ingka Centres, which operates the IKEA chain, is planning to invest EUR 5.8 bln globally over the next three years.
The company already operates 45 centres in 12 different markets across Europe, plus Russia and China. This is set to increase to 70 locations by 2025. Ingka intends to develop its new centres in central locations rather than in suburbs.

The first such urban centre is to be delivered in Shanghai’s Linkong district on which construction has begun in an investment of EUR 1 bln. The 300,000 gba mixed-use project is scheduled for completion in 2022.

The company has also debuted in India having opened its first centre in Hyderabad in August 2018. “There will be no one size fits all format for these Ikea anchored destinations – a mix of city centre, suburban and edge of town locations are all being considered depending on local demographics,” says Gerard Groener, the CEO of Ingka Centres.

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