GLOBAL ONE NEWS (G1) — Swedish furniture giant Ikea is set to open its largest store in the world in the Philippines.
Ikea said Nov. 20 it will hold a 65,000 square meter space – or the size equivalent to 150 basketball courts – at the SM Mall of Asia.
Reportedly, the furniture maker will spend ₱7 billion ($133 million) to set-up operations and provide 9,000 products.
The store will house 500 employees along with a two-level shop, a warehouse, an e-commerce facility and a call center.
With over 100 million total population, Ikea targets the growing middle-class sector in the country. The company also eyes to serve five million households nearby.
A company representative said, “With the growing middle class, it’s a fantastic future market for IKEA.”
As of August, Ikea already had 422 stores in more than 50 nations.
Just this year, the company opened stores in Asian countries including India and Japan.