SINGAPORE: The world's biggest IKEA store will open in the Philippines in 2020, said Bloomberg in a report on Tuesday (Nov 20).
The Swedish furniture giant will open a 700,000 sq ft outlet - nearly double the size of a typical IKEA store - at the SM Mall of Asia in Manila Bay.
This is equivalent to the size of more than 150 basketball courts, Bloomberg cited IKEA's Southeast Asia managing director Christian Rojkjaer as saying.
The two-storey Manila store will also feature a warehouse, an e-commerce facility and a call centre.
The Swedish retailer will spend an initial US$134 million to build, stock and staff the store. The store will carry 9,000 products and have 500 employees, reported Bloomberg.
"Philippines is a very young country. I think the fact that the average age is 24 years makes us believe in our glorious future here," said Georg Platzer, who will manage the Manila store, according to ABS-CBN news.
He added that IKEA may expand in the Philippines following the opening of the Manila store.
Currently, the largest IKEA store in Southeast Asia is in Johor Bahru, Malaysia. It spans 502,815 sq ft and features 54 Swedish-inspired showrooms.
Earlier this year, IKEA also opened its first store in India, sparking traffic jams on surrounding streets as people visited the retailer in droves.