Furnishings and residential equipment retail chain IKEA is to construct a brand new department close to Ashdod. Ari Actual Property (Area) Funding (TASE: ARIN) has notified the Tel Aviv Inventory Trade (TASE) that it has signed a memorandum of understanding (MoU) to promote half of its holdings in 110 dunams (27.5 acres) of land close to Ashdod to JLTV and the Fischer-Bronfman Group for NIS 226 million. The land is zoned for industrial and workplace use.
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The brand new house owners will use 30 dunams (7.5 acres) of the land for the development of a 25,000 sq. meter IKEA department.
The brand new department will probably be IKEA’s seventh in Israel after Netanya, Kiryat Ata, Rishon Lezion, Beersheva, Beit Shemesh and a kitchen retailer in Tel Aviv port.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on April 5, 2022.
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