IKEA still in initial phase of its investment in Serbia.

By bne IntelliNews February 7, 2011
Swedish furniture retailer IKEA is still in talks on purchasing a land plot in Belgrade, where it will build its first store, the companys PR manager for Serbia Milena Vujacic said as cited by the Novosti daily. IKEA plans to invest EUR 250mn in its Serbian store, the manager added. The construction of the retail centre is not expected to start in 2011, Vujacic said without elaborating. More details on the planned investment will be released once the Swedish company closes the land purchase negotiations, Vujacic also said. She added that IKEA is already present on the Serbian market through cooperation with local furniture makers. IKEAs Serbian subsidiary employs 50 workers and in the last three years it invested more than EUR 15mn in the country, Vujacic said.

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