The first IKEA store in Romania will be inaugurated in the Baneasa area just north of Bucharest on March 21, a company press release says. Situated in the Baneasa Commercial Area, it will provide over 7,000 articles of furniture and accessories to Romanian clients.

The total investment in the 26,000 square meter, 2-storey project stands at about 25 million euro. It will be operated in franchise system by Moaro Trading, according to a deal with IKEA System BV, the owner of the concept.

According to August 2006 data, IKEA holds 237 stores in 34 countries on four continents with a worldwide consumer base of 500 million.

The Baneasa Commercial Areas includes the cash&carry network Metro, the Feeria commercial gallery, a Carrefour hypermarket, Bricostore and Mobexpert stores.