IKEA KOMMUNARKA SHOPPING CENTRE
Property and tourism
17 Sep 2002
19 Sep 2002
The loan would finance the establishment and operation of a shopping centre, located on a site adjacent to one of IKEA’s two existing stores in the Moscow region.
The EBRD funds aim to help introduce in the Russian Federation a new concept of retail and international retail practices.
The financing of IKEA MOS is expected to promote competition in the sector and raise standards in the retail market, which would eventually lead to a more efficient market environment. Local customers would be provided with an innovative, customer oriented retail environment. IKEA, which is regarded worldwide as a professional company with stringent operating rules and high standards, would help raise industry standards and transfer skills to various players across the retail and property markets as well as set sound corporate governance standards.
IKEA MOS, a Russian subsidiary of the IKEA Group
10-year US$ 100 mln corporate loan.
An environmental analysis has been made and the EBRD project has been screened B/0.
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