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New IKEA outlet
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IKEA began construction on a new outlet in Hangzhou earlier this week. The furniture and home furnishings giant said it expects the outlet will open next June. It will cost about US$126 million and be about 50 percent larger than its Shanghai store.
The new outlet is 200 meters from Qiaosi Station on Metro Line 1. It is also near the Raocheng and Huhang expressways. It will be the 16th IKEA store on the Chinese mainland.
Construction also began on 10 other projects last week in Yuhang District including a Japanesebrand shopping mall.
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