Sweden’s IKEA company has abandoned their plan to construct a large-scale trade center near “Begovaya” metro station in Moscow.
This decision was caused by the unjustifiably high price of the project and poor logistics in the area, the financial director of the company, Olga Shevtsova, told reporters on Thursday.
As a rule, investor prefers to select land plots near the Moscow Ring Road, inside or outside the capital. Within the Moscow Ring Road, construction is problematic due to the complicated transport links.
It should be mentioned that IKEA and the Moscow authorities have signed an agreement on the construction of new trade centers and the development of the existing ones until 2020. The project is estimated at 50 bln roubles.