Ikea Property Division will merge with Vastint to form Ikea’s real estate division, which owns several plots of land across in Romania. Vastint currently owns 53,000 sqm of land, including a former industrial site in Bucharest’s Timpuri Noi district, which cost the company €34.6m. The company also owns land in the vicinity of Carrefour Orhideea, where office space is planned. Inter Ikea recently announced the opening of a hotel in Milan, in partnership with Marriott International. Inter Ikea announced plans to open another 150 hotels over the next 10 years.
