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Business news, 14.11.2006 12:13

IKEA to open Mega-Parnas shopping center in St. Petersburg on Dec 1

IKEA Swedish furniture and home furnishings giant IKEA will open a Mega-Parnas shopping center in St. Petersburg on December 1, Natalya Atlynova, PR director for the Russian branch of IKEA, told Interfax.

Investment in the Mega-Parnas shopping center, which has total area of about 130,000 square meters, totaled $150 million, she said.

Altynova said the main tenants of the shopping center would be an IKEA store, an Auchan hypermarket, an OBI store and the M-Video electronics and home appliance store.

IKEA said earlier that it would open the Mega-Dybenko shopping center in the Leningrad region on November 16.

IKEA has been working in Russia since 2000. The company has invested about $1 billion in the Russian economy. IKEA is planning to invest about the same amount in Russia over the next two years.

The IKEA group now has about 200 stores in 23 countries. Turnover in the 2005 financial year totaled 14.8 billion euros.

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