by Property Forum | Retail

IKEA plans to invest €50 million in the construction of a shopping park near Belgrade. The company plans to start the construction of the AVA Shopping Park in the beginning of 2021.

AVA Shopping Park, which will be built next to the company's store in the vicinity of Bubanj Potok, will have about 400 employees and an area of 30,000 square metres, the developer said.

"We recently signed a contract with IT Tel & Vila Grad, a local company with over 800 employees, which will be the main contractor. We also hope that our Serbian partners, who have been an important source of support to the project from the beginning, will soon complete the procedure related to the construction permit so that the works can start as soon as possible," Branko Mihajlov, the manager of the project said.

The IKEA store in Belgrade, which opened in 2017, covers an area of 33,000 sqm. It also has a restaurant with 500 seats and a parking lot for 1,400 vehicles.