IKEA would build apartments and shops

The Swedish furniture group would aquire a 50 thousand square meter area in Hamburg, where the company would build residential and retail properties.

Ikea plans real estate investments outside Germany as well: In East London the construction area would be twice as bigger than in Hamburg: 1,200 houses, offices and business are planned to build to the site, located south of the Olympic Park. The properties will be completed in the next five or six years, while Ikea also plans to build low-budget hotels and youth hostels all around Europe. (The Local – Világgazdaság Online)