First IKEA department store in Belgrade by late 2016

First IKEA department store in Belgrade by late 2016

Deputy Prime Minister and Minister of Construction, Transport and Infrastructure Zorana Mihajlovic, Mayor of Belgrade Sinisa Mali and Head of the Sector for Real Estate and Development at IKEA Southeastern Europe Vladislav Lalic signed today the Memorandum on construction of the first IKEA department store in Belgrade.

From left: Vladislav Lalic, Zorana Mihajlovic and Sinisa Mali

Mihajlovic said at a press conference in the Serbian government after the signing of the memorandum that the department store will be built near Bubanj Potok, that it should be completed by the end of November 2016 and will employ 300 workers.

She pointed out that the value of this investment is approximately €70 million, and that the plan is to build a total of five IKEA department stores in Serbia.

Of this number, two will be built in Belgrade (Belgrade-East near Bubanj Potok and Belgrade-West) and one in Nis, Novi Sad and central Serbia each, and the expected value of the total investment is € 300 million.

Mihajlovic stated that the construction of IKEA in Belgrade near Bubanj Potok should start in autumn next year.

Belgrade Mayor Sinisa Mali said that the arrival of IKEA in Serbia will attract other foreign investors in the new economic zone, which will be built near Bubanj Potok.

Mali specified that IKEA will occupy approximately 35,000 square feet, and will offer a full range of about 9,500 products.

Lalic said that IKEA has not given up on its intention to also make production facilities in Serbia in the future and export products made in Serbia in the whole world.

Swedish Ambassador to Serbia Christer Asp said that this is a significant event for the improvement of relations between Serbia and Sweden, adding that the Serbian government has created a very favourable climate for foreign investors.