SM Prime Holdings Inc., the listed property giant of the Sy family, has moved the opening of the Philippines’ first IKEA store to 2021 from the end of this year originally.
The Swedish furniture and homewares chain cited “construction adjustments” as the reason for the delay.
SM Prime said the first IKEA in the country would be the world’s largest IKEA store and will occupy 157,000 square meters (sqm) of gross floor area (GFA) in the Mall of Asia Complex in Pasay City.
IKEA will occupy 65,000 sqm of the GFA to house a two-level shop area, a large warehouse, an e-commerce facility and an integrated call center – making it the world’s largest IKEA store, SM Prime said in its presentation.
The rise of IKEA in the MOA complex is part of the continuous development in the Bay Area, consistent with the vision the SM Group had more than 10 years ago when it launched SM Mall of Asia.
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