Inter Ikea Centre Group (IICG), a joint venture between Inter Ikea Group and Ikea Group, is entering the Beijing retail market with a shopping centre slated for opening next year.

The Beijing shopping centre is located in Xihongmen Commercial Complex, in the Daxing district. It will comprise 172,000 sqm and will anchor an Ikea store, hypermarket, restaurants and cafes, electronics and sports store destinations, a cinema and other entertainment venues and 560 international and national brands. It will also have 7000 parking spaces.

While the shopping centre will open next year, the 48,000 sqm Ikea store will open for business at the end of this year.

“We build this shopping centre for the families and friends to reunion and enjoy time together in a relaxed, pleasant, dimensional, vibrant, and reasonable layout shopping atmosphere,” said IICG MD John Tegnér.

Beijing IICG shopping centre best explains IICG’s long advocated concept of “Designed for the Family, Built for the Business”.

Denmark-headquartered IICG currently has 29 shopping centres in 10 countries, with a further over 20 projects under development and in the pipeline.

It says it has a long-term commitment to China with plans to invest more than €1 billion in its shopping centre business over the next five years.

Besides the Beijing shopping centre, IICG currently has projects under development in Wuxi, Wuhan, and Shanghai.