Colossal plans for a colossal market

Ikea Russia has recently been working tirelessly on extending its portfolio of Mega shopping centres. At present there are 14 Mega centres in Russia, all anchored by Ikea stores. The extension work is to be carried out in two ways at the same time. “First, we want to expand our existing shopping centres, such as Mega Teply Stan in Moscow. Secondly, we want to add new shopping centres to the portfolio,” explains Milen Gentchev, the general director of Ikea Centres Russia. The Mega Teply Stan centre, which was built in 2002, is to be enlarged to over 200,000 sqm. Mega opportunities At present Ikea Russia has three centres in Moscow, two in St Petersburg, and another nine in other big cities in Russia. In Moscow, Ikea Russia would welcome any opportunity to add to its portfolio. “We can buy or build. Moscow is a very dynamic market. However, building a centre from scratch is not always easy. It is difficult to find a visible, accessible 15–16 ha plot available to