Ikea Project in the Algarve will be a reality in 2015

Ikea Project in the Algarve will be a reality in 2015

The president of the Loulé Municipality, Seruca Emidio, and a source of the Swedish Real Estate group assured today, that the project will move forward at full speed. Ikea is confident that the investment in the Algarve will be a success.

“the project is being carried on exactly as planned, both in investment and size. There will be an Ikea store and a shopping center” said Ana Teresa Fernandes, from Ikea Portugal public relations.

The Swedish group IKEA estimates to open to the public in 2015, both the store and the Shopping Center Inter IKEA.

The Swedish group bought a large amount of private land where the project will be located, totaling 40000 square meters. The investment is superior to 200 million Euros and it is estimated that to create three thousand jobs directly.

Four associations Algarve want to stop the preparation of the Urban Plan Caliços / Esteval, an area where the Ikea shop will be born, through an injunction against the Board of Loulé. The chosen location, near the junction Loulé / Faro Via do Infante and the Algarve Stadium is criticized by the signatories of the injunction already sent to the Administrative Court of Loulé, defending the Loulé axis / center as the best choice.

The municipality decided in August 2010 to proceed with preparation of the plan. The contract signed in December with the Swedish mogul allows the commercial project in that area which includes an Ikea store, a shopping center and a retail park.