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February 8, 2019

Ikea's parent company to develop a US$1.2 billion mall in Shanghai

Ingka Holding BV, parent of the world’s largest home-furnishings retailer Ikea, has commenced construction on a new shopping mall in Shanghai. The company said the estimated US$1.2-billion project is its single biggest investment.
     The mall, Ingka’s fifth in China, will span 430,000 sq m and house more than 300 local and foreign merchants, as well as an Ikea store, Ingka announced recently. The new shopping mall, termed an “Ingka Center,” will be open in 2022. The mall, will also have office space for 3,000 Ikea employees, becoming one of the company's biggest worldwide bases.

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