IKEA to sell 23 retail parks across Europe

IKEA Chief Executive Gerard Groener declined to estimate the value of the properties but said he was confident IKEA would not lose money on the divestments. “The market is strong,” he said, adding that he expects to finalise the deals in less than two years. IKEA Centres owns 41 indoor shopping malls in Europe, Russia and China and 25 outdoor retail s paces in Europe. Its total property portfolio is wort h €9 to 10 billion. Groener said the decision to sell the retail parks was not down to cash shortage, but rather to a strategic decision to focus mainly on indoor malls, betting they will attract more visitors long term as they increasingly act as meeting places. (EuroNews)



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