PETALING JAYA: Ikea is to invest RM592 million on its third store in Malaysia located in Tebrau, Johor.
NST Online reported that the store was expected to open at the end of next year.
It quoted Ikea Southeast Asia Managing Director Christian Rojkjaer as saying the company chose Johor Bahru because of the rapid development taking place there.
“We have watched the development of the city for some time and are impressed with the infrastructure that is being built.”
Rojkjaer expected the company’s investment to create thousands of spin-off business opportunities and create more than 300 jobs.
The new store will have a floor space of 46,713 square metres and serve more than 1.8 million people in the area.
Ikea expects between three million and four million visitors in the first year, rising to six million later.
Its Damansara store here already attracts six million visitors annually.
The Tebrau store will be close to Ikea Singapore, but the two stores will complement each other. The Tebrau store is designed specifically for the Johor Baru market.
“We want our products to be affordable for everybody,” Rojkjaer said after the groundbreaking of the new store in Taman Desa Tebrau here.
The report said those present included Iskandar Regional Development Authority Chief Executive Ismail Ibrahim and Ikea Store Manager Annie Chandler.