IKEA to open a second store in Romania – EuropaProperty

IKEA, Swedish furniture retailer, has announced that its urban planning project for the construction of a new store on Boulevard Theodor Pallady no.57 in Bucharest has been approved by the local authorities in Romania.

According to Stefan Vanoverbeke, Country Retail Manager at IKEA South East Europe, the next step is to obtain a building permit for the project, which is due to be completed by the end of 2018.

IKEA’s new store in Eastern Bucharest will spread over 37,000 sqm. Its development represents an investment of €80 million and will generate around 300 new jobs.

As previously announced, IKEA aims to open three more stores in the Romanian cities of Timisoara, Cluj and Brasov by 2020. The company’s long-term plan is reach nine units in Romania, investing a total of €500 million.

At present, the Swedish powerhouse operates one store in Bucharest, located on the Bucuresti-Ploiesti Highway no. 42D.

In the financial year 2016 (ending on the 31st of August), IKEA’s sales in Romania amounted to €115 million, a 21.2 percent increase compared to the previous year.

Within the South East Europe region, IKEA is also present in Croatia and Bulgaria and is currently working on the construction of its first store in Belgrade, Serbia.