Ikea to Add $300 Million in Spending on China Malls
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Ikea will add $300 million to the $1.2 billion the mall developer it part owns plans to spend in China as the world’s largest home-furnishings retailer taps rising consumption in the world’s most populous nation.
Inter Ikea Centre Group, which builds shopping centers, today said it will open its third China mall in Wuhan, Hubei province. China Managing Director Ding Hui said Ikea will add $300 million to the funds budgeted for building malls in the Asian nation.