SM Prime to build world’s biggest IKEA store

Property developer SM Prime Holdings Inc. (SMPH) confirmed on Tuesday that it has been tapped to build the Philippine store of Swedish furniture brand IKEA that will be  the biggest in the world.

IKEA will occupy 65,000 square meters of gross floor area at the Mall of Asia (MOA) Complex in Pasay City, SMPH said in a statement

The project will be built in Block 4 of the MOA Complex and connected via link bridges to SM MOA in the north, MOA Arena in the east, MOA Arena Annex in the south, and SMX Manila in the west.

“The addition of this new mixed-use facility, and the entry of the world-renowned brand IKEA, complements the integrated lifestyle we dreamt for the MOA Complex,” said SM Prime President Jeffrey C. Lim.

“This is in line with our commitment to provide world-class amenities and convenience to the growing community in the Complex, as well as for the rest of Metro Manila and neighboring provinces,” he said.

According to IKEA, it is set to hire some 500 Filipino co-workers and offer as much as 9,000 products.

In 2017, SM Prime breached the P1-trillion mark in terms of market value, making it the first Philippine company to do so. —VDS, GMA News