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IKEA invests $167m in mall construction in Russia’s Ural region in 2017

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IKEA invests $167m in mall construction in Russia’s Ural region in 2017

The Agency of Investment Development of the Chelyabinsk region expects that IKEA will enter the investment phase of the construction of a trade center in the area in 2017, Kommersant newspaper reports.


“This is stipulated in our “road maps”. The project will have to be implemented until the year 2020. It is crucial to meet this dealine. They will pay a considerable tax on real property,” the head of the Agency, Anatolyi Lobko, said.

As it was reported earlier, a total amount of investments is expected to exceed 10 billion rubles ($167 million).

We should remind you that in January 2016, the authorities of the Chelyabinsk region and the management of IKEA Centers Rus Development LLC announced their plans to implement the project. The investor has already acquired a plot of land with an area of 40 hectares.

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