Ikea China biggest project revealed
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Swedish furniture group Ikea will build a US$1.2 billion, 430,000sqm shopping complex in Shanghai, to be completed by 2022. The new Ikea China centre will house an Ikea store and an additional 120,000sqm in retail area, hosting more than 300 businesses. It will also include 60,000sqm of office space.
The move represents the largest single investment the firm has made in one location, and is its sixth complex to be announced or built in China. It will be constructed near the Hongqiao airport as the Shanghai Linkong Project.
Ikea has completed three Livat-branded shopping centres in China, and has 26 stores across the country. Two other shopping center projects have been announced within the territory.
Questions & Answers
Q.What is the total size of the new shopping complex Ikea is building in Shanghai?
What is the total size of the new shopping complex Ikea is building in Shanghai?
The new Ikea China centre will cover 430,000 square metres in total. This includes an Ikea store, 120,000 square metres of additional retail space, and 60,000 square metres for offices.
Q.How many businesses will be located within the new Shanghai complex?
How many businesses will be located within the new Shanghai complex?
The new complex will host more than 300 businesses. This is in addition to the Ikea store that will also be part of the development.
Q.Where in Shanghai will the new complex be built?
Where in Shanghai will the new complex be built?
The shopping complex will be constructed near the Hongqiao airport. It will be known as the Shanghai Linkong Project, indicating its proximity to that area.
Q.Is this Ikea's first major project in China?
Is this Ikea's first major project in China?
No, this is the sixth complex to be announced or built by Ikea in China. The company has already completed three Livat-branded shopping centres in the country and has 26 stores nationwide.
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