Construction of an IKEA store in Stopini, a municipality just outside Riga, has been officially completed.
The store of the Swedish flat-pack furniture giant IKEA is one of the largest construction projects completed under the supervision of the Construction State Control Bureau of Latvia in 2018.
The building of the IKEA store was completed in slightly more than a year. The new store is roughly 35,000 square meters large and the total size of the territory is 10.5 hectares.
The IKEA store in Stopini was developed by Verus Pradium and built by contractor UPB.
As reported, Latvia’s SEB Banka and Verus Praedium company, developer of the international home furnishing products brand IKEA in Latvia have signed a long-term loan agreement of EUR 35.4 mln for construction of the IKEA store.
The Swedish furniture and household goods company IKEA was founded in 1943 by Ingvar Kamprad. Presently IKEA manages more than 400 stores in almost 50 countries across the globe, and around 10 percent of stores are managed by franchise companies.
Verus Praedium was founded in 2015 and belongs to Dutch-registered FE Corporation B.V.
