Swedish group Ikea, which has recently confirmed the acquisition of the Timpuri Noi industrial platform in Bucharest, says the group doesn't plan to build an Ikea store on the plot. The property was acquired by the group's real estate development division, Inter Ikea, for EUR 34.6 million. The group has bought the 5.1-hectare land plot for a mixed development – residential, offices and retail, which is a longer term plan. The acquisition was made through Vastint Holding BV, which is the property division of Inter Ikea Group.

Ikea already runs a furniture store in Romania, close to the Baneasa airport. Read more about the recent acquisition of Timpuri Noi platform, which had been on sale for three years.