Ikea reportedly plans to invest EUR 18 mln in new store in Iaşi

Furniture retailer Ikea is going to invest some EUR 18 million to build a new store in northeastern Romania at Iaşi, according to Ziarul de Iaşi and Ziarul Financiar. The plot of land reportedly cost another EUR 4 million.

The project envisages the construction of a shopping center with two levels (ground floor and first floor), internal roads and a parking lot, a delivery yard, advertising installations, photovoltaic panels, and a geothermal heating system with deep wells.

The store will be located on a 5.4-hectare plot of land belonging to the developer Ermes Holding, a company owned by Prime Kapital.

The total area of ​​the site is 53,870 square meters, with the land being divided into two distinct units. The main plot, of approximately 41,000 square meters, will house the store and other related facilities, and on the rest of the land, of 11,000 square meters, more than 500 parking spaces will be arranged.

Last year, Iasi4u.ro revealed the existence of a preliminary contract between Ikea and Ermes for the sale of the land, a transaction valued at over EUR 4 million.

According to the documentation, the total value of the project is estimated at RON 89 million (EUR 18 million).

The necessary documentation for obtaining the construction authorization was reportedly submitted to the competent institutions.

(Photo source: Ikea)