Ikea buys land in Bucharest

The huge land deal people have been talking about this week is Ikea’s agreement to purchase of a 51,000 sqm plot not far from the center of Bucharest. The price is said to be €35m, roughly one-third (on a per sqm basis) of what land was going for pre-crisis. Along with a generous helping of retail, the company will also be building residential and office buildings on the site. Intriguingly, company officials claim that no Ikea store is planned for the location.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s