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IKEA to build Ashdod branch

IKEA Beit Shemesh Photo: Shlomi Yosef
IKEA Beit Shemesh Photo: Shlomi Yosef
5 Apr, 2022 13:50
שלח תגובה במיילKobi Yeshayahou

The new branch will be the furniture and home accessories retail chain's seventh in Israel.

Furniture and home accessories retail chain IKEA is to build a new branch near Ashdod. Ari Real Estate (Arena) Investment (TASE: ARIN) has notified the Tel Aviv Stock Exchange (TASE) that it has signed a memorandum of understanding (MoU) to sell half of its holdings in 110 dunams (27.5 acres) of land near Ashdod to JLTV and the Fischer-Bronfman Group for NIS 226 million. The land is zoned for commercial and office use.

The new owners will use 30 dunams (7.5 acres) of the land for the construction of a 25,000 square meter IKEA branch.

The new branch will be IKEA's seventh in Israel after Netanya, Kiryat Ata, Rishon Lezion, Beersheva, Beit Shemesh and a kitchen store in Tel Aviv port.

Published by Globes, Israel business news - en.globes.co.il - on April 5, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

IKEA Beit Shemesh Photo: Shlomi Yosef
IKEA Beit Shemesh Photo: Shlomi Yosef
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