16 Jun Serbia’s JPM provided legal support to Swedish furniture producer IKEA

Swedish furniture producer IKEA will, by fall, start construction of the first department store in Serbia at Bubanj potok location. Permit to start the construction works, has been delivered on 10 June to the Property Manager SEE, Vladislav Lalic, by VP of the Government of Serbia and the Minister of traffic, construction and infrastructure, Ms. Zorana Mihajlovic. Permit was issued in record time of only 2 days after request submission, where JPM office advised in all administrative and legal matters and will continue to do so throughout construction tendering process, execution of works and day-to-day running of the store.

Total investment of Swedish company will reach EUR 70 mio and completion of works and opening of the first IKEA department store in Belgrade is planned a year after the works start i.e. for the end of 2016. Future IKEA department store will have 38.900 square meters, 1.400 parking places, while buyers in Serbia will be offered a product range of 9.200 products, first of all, furniture and other household accessories. Swedish company in Serbia is in long term planning construction of 4 more department stores: another one in Belgrade, Nis, Novi Sad and in central Serbia at the crossroads of Kragujevac, Kraljevo and Cacak and expected value of overall investment is EUR 300 mio.