Romanian do-it-yourself retailer Dedeman will pay some EUR 16 million on a 50,000-sqm land plot close to the IKEA furniture store in northern Bucharest, according to market sources quoted by Wall-Street.ro.

The land was bought from the Utility Aviation and is located near the IKEA store. The media however believes it will be hard to get a building permit, as the land plot is too close to the Baneasa airport.

Dedeman has paid for this land plot as much as it invested in opening a store in Bucharest, on Soseaua Colentina, for example. Dedeman has 40 stores in Romania, and 2,000 employees.

Dedeman pays EUR 6 mln for 3ha of land in Bucharest

editor@romania-insider.com