The IKEA Manila faces further setbacks after construction delays have meant the store will now not open until 2021.
The upcoming store, which will be the first IKEA in the Philippines and situated next to SM’s Mall of Asia was first announced two years ago and was originally due to open this year. No specific date for next year has been revealed, only that it will be in the calendar year.
On a more positive note, construction work on-site has new resumed after weeks of closures because of the worldwide pandemic. The new superstore will be located in the Manila Bay area and the Pasay City store will occupy a 67,760sq m area which will make it the largest IKEA in the world.
Meanwhile, IKEA says after a review of the Vietnam market, it now plans to open its first store there in Ho Chi Minh City, rather than Hanoi as originally planned. The country’s home-furnishing market is estimated at US$4.4bn a year, with Ho Chi Minh accounting for an 18 per cent share and Hanoi a lesser 11 per cent.
