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New IKEA store opens next week

The third Hungarian store of multinational home furnishings giant IKEA opens on June 14 in Soroksár in the capitalʼs District 23, in an investment worth some HUF 17 billion, Eszter Varga-Nagy, the chainʼs communications manager, told state news wire MTI on Thursday, as reported by business news site vg.hu.

Varga-Nagy added that the 33,500 square-meter facility will be one of the largest in the region, and Hungaryʼs biggest yet. With its larger floor area, the new Soroksár IKEA will also offer a broader range of products than at the existing branches at Örs vezér tér and at Budaörs west of the city, she added.

Ágnes Szabó, manager of the Soroksár store, said that the new unit will create almost 300 new jobs in Hungary, adding that regionally the company has carried out its largest developments here.

The new storeʼs refrigeration and heating systems will be powered by geothermal energy, while electricity will be provided through solar panels, Szabó revealed, adding that some 82% of the buildingʼs cooling and 99% of its heating needs will be covered by these solutions.

The Soroksár IKEA offers parking for almost 1,200 cars, with four electric vehicle charging stations, as well as an outdoor playground.

Sales revenues of IKEA Hungary, according to the latest publicly available data, increased by almost 14.5% to HUF 53.8 billion in the financial year closing at the end of August 2016.

In its latest financial year, the international group achieved total revenues of EUR 34.2 bln, a 7.1% growth on the preceding year, with net profits rising 19.6% to EUR 4.2 bln.

According to vg.hu, IKEA is the worldʼs largest furniture retail concern, with 340 stores in 28 countries, and more than 40 stores operating under a franchise system, employing a total of 163,600 workers worldwide.