Latvia soon to be home to the biggest IKEA store in the Baltics

At the beginning of the year, Swedish retailer IKEA (Paul Mason Properties) revealed the plan to open its biggest store in the Baltics in Latvia next year. With planned investments of 60 million EUR, the furniture store is scheduled to open on the outskirts of Riga in August 2018. Construction of the IKEA store will begin in the region of Stopini, just outside Riga, in the spring of 2017, and the store will be completed in approximately 18 months.

IKEA will have a parking lot for over 1,000 vehicles and 34,500 square meters of floorspace. A children's area in the store will include baby care rooms, playgrounds and family parking facilities. Around 300 builders are expected to be involved in the construction project. The representatives of IKEA estimate that in the future, total investments in the property might exceed 100 million euro. The IKEA store in Stopini will provide jobs to some 400 people, with the selection of employees expected to begin already in a few months' time. The Riga mayor indicated that this is the first time that the local authority has provided €500,000 financing for transport infrastructure upgrades, which are necessary to ensure a smooth connection with the new store.

IKEA is a multinational group that designs and sells ready-to-assemble furniture, kitchen appliances and home accessories. Founded in 1943 by Swede Ingvar Kamprads, the store now has approximately 400 stores in almost 50 countries across the world. Currently, there is only one IKEA store in the Baltics, built in 2013. In Latvia, IKEA will be developed by Paul Mason Properties.

Source: LETA