Friday Ikea announces new project for Shanghai

Ikea, the world’s leading furniture and lifestyle service provider, announced it would start construction on a mixeduse project in the western part of Shanghai, which will be the project attracting the largest amount of investment in the company’s history.

The new project will cover a total area of 430,000 square meters, with total investment topping $1.2 billion. Operating under the brand Livat, the project will include retailing space, offering consumers choices from more than 300 catering, entertainment, education and sports brands from home and abroad. Ikea home furniture will also be available.

Apart from retail experiences, the project will provide office space with Ikea-style furniture and design. It will be the first Grade A office building from Ikea.