Targówek Park Handlowy will see an additional 30,000 sqm of retail space

Inter IKEA Centre Group (IICG) announced plans do deliver 30,000 sqm of retail space in its Targówek location in Warsaw. The project will be realized together with McArthurGlen Group, a developer, owner and manager of designer outlets across Europe.

The development will be located in IICG’s existing retail park, Targówek Park Handlowy, which totals 80,000 sqm and currently incorporates IKEA, Decathlon, Electro World, Domoteka furniture department store, other furnishing retailers and a grocery store.

"The retail park at Targówek is already very successful. The joint venture with McArthurGlen enables us to improve the offer and enhance the retail experience for new and current customers," said Mikael Ebe, development director at Inter IKEA Centre Group.

Targówek’s new development will be designed in the form of an outlet village, a characteristic concept of all McArthurGlen’s shopping sites. It will be the first large outlet center in Poland featuring premium designer stores with discount-priced stock.

This announcement came as a surprise after IKEA had declared two weeks ago that it was considering suspending most of its planned investments in Poland to manifest its disapproval of a recent law restricting the development of large-space stores.

"Our investments in Poland are not just IKEA stores. We build large retail parks and change road infrastructure around our sites. We strongly feel that the new law disregards investors who make such a sizable impact on local communities," said Aleksandra Sikora, an IKEA representative. "IKEA sent a signal of disapproval, but we will continue working for the benefit of our customers."

McArthurGlen Group’s current portfolio comprises 16 designer outlet villages totaling more than 400,000 of high-quality retail space. The company plans to open five new outlet developments in Europe by 2010.

Warsaw Business Journal, 19th May 2008

http://www.wbj.pl