Ikea to build an entire part of city
Ikea is not only furnishing Swedish (and other) homes. Now the furniture giant is entering the construction business, too. In five big European cities, Ikea is to build whole neighborhoods with apartments and offices, according to Dagens Industri. Ingvar Kampradís power company Inter Ikea is to build in the neighborhood of Strand East in Eastern London, across from the new Olympic Village. 1200 apartments and 58,000 square meters (624 306 square feet) of office- and store space are to be built. When all is finished, in 2018, some 6000 people will live here. There will be a hotel, a day care center and a civic office in the area as well. Apart from this neighborhood in London, Ikea is developing similar projects in Riga, Bucharest, and two Polish cities.