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IKEA: New investments in Serbia

IKEA embarking on a new investment cycle in Serbia represents a long-term orientation of the Swedish company to stay and expand its business in Serbia – said IKEA’s Regional Representative for South-Eastern Europe, Vladislav Lalic.

Lalic told Tanjug that the new investment in the construction of IKEA shopping centre in Bubanj Potok demonstrates the Swedish company’s strong commitment to Serbia and the Serbian economy.

“We are expanding our business by creating a commercial zone in Bubanj Potok where IKEA opened its Department Store last year. We have successfully completed the first year of our operations with the turnover of 47 million euro or 5.6 billion dinars and a market share of 11 per cent,” Lalic added.

He also said that IKEA was planning to invest 50 million euro in the construction of the Belgrade Retail Centre, as well as hire another 400 workers.

By doing so, the company’s investments in Serbia would total 120 million euro and the number of employees here would grow to almost 900.

The Belgrade Retail Centre will span 42,000 square metres and the construction would start in spring next year. It would take about 12 months for the facility to be properly equipped and fit to be opened.

“Our new facility would be opened right next to the IKEA Department Store since we bought here much more land than we needed for the department store, having in mind our long-term development in Serbia”, Lalic concluded.

Source; Serbian monitor