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IKEA to build first Philippine store at SM Mall of Asia

Shopping mall developer, SM Prime Holdings Inc., will build Ikea’s first store in the Philippines within the SM Mall of Asia (MOA) Complex in Pasay City by 2020.

Alex Pomento, SM Prime Vice President announced Friday, April 6, that Ikea will lease a property at the said area for long-term, reported Bloomberg.

“While we don’t have exclusivity, there are talks to have similar arrangements for our properties in other parts of the Philippines,” Pomento was quoted as saying.

The Swedish furniture company will add to the list of big crowd drawer stores for Mall of Asia, which has currently a foot traffic of at least 300,000 per day.

It has 415 stores in 49 markets across the globe, and intends to increase city-center showrooms further in the coming years.

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