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Ikea reported to be the biggest foreign landowner in China

Wednesday, 17 July 2013
Swedish furniture giant, Ikea has been identified as the largest foreign landowners in the China. According to Swedish daily Dagens Nyheter citing the Chinese Times Ikea possesses a total of 640,000 square meters of land.
Ikea in China
Ikea has been established in China for fifteen years now. It has always aimed to own the land where they build their stores. Therefore, they have "only" twelve supermarkets as compared to other giants such as Wall Mart which has about 400 stores, Carrefour has 229 and Tesco is on 130, according to Dagens Nyeheter.

In eleven of the twelve stores, Ikeas owns the land on which they stand. Recently, they managed to buy up additional four plots. Soon they will have a total of sixteen stores of 640,000 square meters.

Due to rising rental costs, it has become common for dealers to buy the land they want to establish their business on.
by Scancomark.com Team