After furniture and hotels, it's time for CASE. The Scandinavian philosophy of low cost broadens its range of action to yet another business. The ambitious project belongs to his majesty Ikea, which has chosen Germany to make its debut in the construction world. Hamburg, to be precise, where the multinational intends to build an entire neighborhood, complete with offices and shops. The company is looking for at least five hectares of building space. "Looking for land". Where? In the centre, of course, or at least in the airport area.
“We want to build a completely new neighborhood that Hamburg can enjoy,” Harald Mueller, manager at Ikea's real estate subsidiary Landprop, told the Hamburger Abendblatt. The German port city is “one of the most vital in Germany. We are actively looking for land and hope to find it soon." There is no real draft of the project yet and to elaborate it Ikea will have to obtain the collaboration of the city authorities.
Cold, however, the reaction oflocal administration: there is nothing concrete, the SPD-led Senate of the city announced.
Just a few days ago, the Swedish giant announced its intention to throw itself into yet another business, the hotel business. Ikea intends to open at least 100 hotels between Germany, Belgium, Great Britain, and the Netherlands and the Baltics. The construction of the hotels will be financed by revenues from the Ikea brand, which the company recently valued at 9 billion euros. An initial investment of one billion has already been allocated. The hotels will not carry the Swedish company logo and will be managed by a hotel company. As strange as it may seem, not even the furniture that will furnish the new structures will be signed by Ikea.
But it's not over. The company is also giving birth to a new idea for London, the second city where an Ikea district could be built (the most popular area is East London). If all goes as planned, the project will also be exported to other European capitals. Provided that new tenants are not asked to mount walls and false ceilings themselves.
Read the story in the Hamburg newspaper Morgenpost.
