Original article by 长沙地铁

Translated by Ben Wilkinson (edited by WNIC)

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IKEA's finally coming to Changsha! And it's not just gonna be the furniture store, they're also going to open the fourth IKEA shopping centre in all of China here. The shopping centre will bring 100 new leading brand stores, both domestic and foreign, which have not yet entered the market in Hunan. 

On November 19th, a member of Hunan province's standing committee and secretary for Changsha's party committee Yi Lian Hong, and Changsha party committee's vice-secretary, mayor Hu Heng Hua met with IKEA shopping centre's global president to sign an agreement which would allow IKEA to set up a shopping centre in the new Xiangjiang district (Changsha's 'Hexi' area) of Yang Hu economic area. Changsha city's government party member, member of the party worker's council and associate director of the regulatory commission  Ling Qin Jie, Changsha Pilot holdings ltd. chairman of the board of directors Liu Ji Xiong, the manager of IKEA shopping centers China Ding Hui, and IKEA China's retail development chief inspector Ye Di Jun all signed the investment agreement contract together.

Where will Changsha's IKEA be built, and what will it be like?

According to the agreement, the new IKEA shopping centre will be built in the Yang Hu headquarters economic area (Yang Hu Zongbu Jingji Qu), the total area of the buildings will be around 300,000 square meters, and will have a a total investment amount of 4 billion Renminbi; there will be an IKEA furniture store as the main store within the shopping centre, however there will also be a supermarket, electronics store, clothing store, restaurants, an entertainment area, sports and exercise area, and even a cinema comprised in this international one-stop shopping centre. The IKEA furniture store is planned to open in May 2018, and the shopping centre is planned to be completely open by 2019, the finished centre is estimated to have an annual tax revenue of 180 million Renminbi.

The  IKEA shopping centre is being built over in the Yang Hu area and will bring around 5000 new jobs to Changsha, when completely finished it will bring in over 20 million customers a year. The centre will be comprised of about 15 international fashion brand flagship stores, as well as around 100 different domestic and international brand stores which have not yet entered the market in Hunan, and will be the largest shopping centre in the whole of Hunan province.

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Original article here