While all eyes have been on the “controversy” over IKEA’s plans to open a mega-store in Loulé, the Swedish low-cost interiors giant has been quietly closing a multi-million euro deal which will see it opening its fourth store in Portugal, in Braga, within the next year. Part of a commercial centre owned by Sonae Sierra, the new IKEA will occupy 22,000sqm and create “around 250 direct jobs”.
It is part of a development that had been “blocked” for years due to the fallout of the economic crisis and debts accrued the site’s original owners, group Dolce Vita.
Now no longer to be called Dolce Vita de Braga, the centre will operate as Centro Comercial Nova Arcada.
It is understood to represent a global investment of over €150 million and create 3,300 direct jobs, with almost double that coming by way of “indirect jobs”, says Lusa.