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IKEA assembles plans for upgrades & investment in Russia

IKEA assembles plans for upgrades & investment in Russia

Publicerat av Tony Harkén torsdag, 23 juni 2016.

Russia's biggest shopping mall operator, IKEA Centers Russia, is planning to spend over $2.1 billion to upgrade its 14 premises in the country, reports the Wall Street Journal.

The company has a far-reaching plan to open more shopping centers further east in Russia over the next decade. However, for now the step is focused on its current locations.

The multinational aims to redevelop two existing malls in Moscow by boosting the leasable space for both properties by 15 to 20 percent.

Sweden-based IKEA Centers Group manages over 50 shopping centers in Europe, Russia and China with furniture retailer IKEA as an anchor tenant.

In Russia the stores operated by the group are known as MEGA malls. The vacancy rate of the 14 malls currently fluctuates around 1.4 percent.

Read more at - www.rt.com/business/347730-ikea-russia-invest-expansion/

Publicerat av

Tony Harkén

ryssland

Klockan i Moskva, Ryssland

RU-MOS - Time