Ikea opens second store in Romania earlier than initially announced

Swedish furniture and home décor retailer Ikea will open its second store in Romania by the end of next summer, earlier than initially announced. The company previously said the store would be completed by the end of 2018, says Romania-Insider.com.

The investment in the store, which will be located in the Theodor Pallady area, in Eastern Bucharest, amounts to EUR 86 million, including the land price.

The Swedish retailer bought the plot of the former Anticorosiv factory in the summer of 2015 from US investment fund Broadhurst Investment. This is where the company is now building its second store in Bucharest, which will be the largest in South-Eastern Europe, with an area of 36,000 sqm.

Ikea is also in advanced talks to buy two plots outside Bucharest, in Cluj-Napoca, Timisoara or Brasov. The company will open stores in these cities around 2020-2021. It plans to invest RON 2 billion (EUR 431 million) in the next ten years in Romania.

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