Ikea is planning to build offices and apartments on a 51,000 sqm plot in Bucharest. The company was granted a building permit for two apartment blocks totaling six and 10 floors in December, but no construction date has been set yet. Ikea bought the land, the former Timpuri Noi industrial site, in November for €34.6m. The first phase of construction is expected to cost €20m, according to media reports.
Ikea’s store in northern Bucharest, located in Baneasa Shopping City, remains the company’s single Romanian outlet though it’s insisted since entering the country that a second store would be built.
