First IKEA store in Belgrade to open in late 2016

First IKEA store in Belgrade to open in late 2016

BELGRADE -- Serbian officials and the representatives of Swedish furniture maker IKEA signed on Friday a Memorandum on the construction of the first IKEA store in Belgrade.

Officials of the Serbian government and the City of Belgrade and the representatives of Swedish furniture maker IKEA signed on Friday a Memorandum on the construction of the first IKEA store in Belgrade, near Bubanj Potok, which is to be completed in late November 2016 and employ around 300 people.

The Memorandum was signed at the Serbian government by Deputy Prime Minister and Minister of Construction, Transport and Infrastructure Zorana Mihajlovic, Mayor of Belgrade Sinisa Mali, and Property and Expansion Manager for South East Europe at IKEA Serbia Vladislav Lalic.

As stated at the press conference, the investment is worth around EUR 70 million. The plans include the construction of a total of five IKEA stores in the territory of Serbia - two in Belgrade, and one in Novi Sad, Nis and Central Serbia - and the value of the investment is expected to total around EUR 300 million.

The construction of the store in Belgrade near Bubanj Potok is scheduled to begin in the fall of 2015.

Mihajlovic said that the Government and the Ministry will make every effort to honor the deadlines and issue the building permits as quickly as possible, as well as to relocate the transport infrastructure in the area.

Mali noted that IKEA's arrival in Serbia will help to attract other investors to the new business zone near Bubanj Potok.

Lalic said that the investment in Serbia has long been discussed but that the conditions have now been met to take a step further. ''At IKEA...