IKEA gets building permit for its second store in Romania

Swedish furniture retailer IKEA has obtained the building permit for its second store in Romania. This means that the company can start the construction of the new unit on Theodor Pallady boulevard in Eastern Bucharest, which will be the largest IKEA store in South-Eastern Europe. It will have a gross building area of some 37,000 sqm. The new unit is to be opened at the end of 2018, according to the company. The investment will amount to some EUR 80 million, including the land cost. “We are happy to announce that we have obtained the building permit for the second IKEA store in Romania, and that we will start work on the new store soon. […] The general builder began preparing the land and fencing the perimeter of the IKEA Pallady store,” said Vladislav Lalić, property and expansion manager IKEA South-East Europe. Local company Bog’art will build the new store. The Swedish retailer currently runs a store in the Baneasa area in Northern Bucharest, which has an area of 26,000 sqm. About three million people visit it every year. Austrian furniture retailer kika will also open a store on the Theodor Pallady boulevard in Eastern Bucharest. This is will be the second store in the Romanian capital, being set to open by the end of this year. Moreover, Do-It-Yourself retailer Leroy Merlin will also open a store in this area. Romanian DIY retailer Dedeman, retailers Metro and Auchan, sports retailer Decathlon, home decor retailer JYSK and toy retailer Jumbo all have large stores in the area. IKEA’s business in Romania reaches EUR 123 million Irina Marica, irina.marica@romania-insider.com