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IKEA to invest up to 3b euros in shopping centres

It's especially keen on China and Russia where retail sector is growing out of nothing

Despite a sluggish economy, IKEA's European centres saw on average a 2 per cent like-for-like rise in visitor numbers last year.


IKEA, the world's biggest furniture retailer, plans to spend up to three billion euros (S$4.3 billion) on new shopping centres over the next five to seven years, aiming to cash in on the popularity of its stores by collecting rent from retailers keen to set up nearby.


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