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IKEA to build its first store in Serbia

Xinhua, June 10, 2015 Adjust font size:

Swedish IKEA got on Wednesday a permit to construct its first out of planned five stores in Serbia, and will invest 70 million euros (around 79 million U.S. dollars) into the business.

"Serbia is already a good place for investments, but it will become even better," Serbian Deputy Prime Minister Zorana Mihajlovic said when handing the construction permit to Vladislav Lalic, Regional Property & Expansion Manager at IKEA South East Europe, adding that IKEA will employ around 300 people, and that wherever it opens stores it contributes to the GDP growth of that country.

Lalic said that the permit was approved in just two days and that the construction works will start in several weeks.

However, the opening of other stores will, according to him, depend on the success of the first one that will be finished by next year.

The construction of the store is part of the protocol that IKEA signed with Serbian government in 2014, which announces to build five stores and invest around 300 million euros. Endit