IKEA Cheras to open end-November

KUALA LUMPUR: IKEA Malaysia, which will see its second store in Malaysia opening its doors end-November, plans expand its presence to Penang and Johor Baru within the decade.
"We are working on possible sites for the stores in both states. It is likely to be Johor first and then Penang. I would say that the stores will be opened within this decade," IKEA retail director for Malaysia, Singapore and Thailand, Mike King told reporters at the roof capping event of IKEA Cheras here yesterday.
Located at Jalan Cochrane, IKEA Cheras spans across 42,000 square-meter shopping space, which is 20% bigger than the existing Damansara store.
King declined to reveal the construction cost for the Cheras store. "We don't talk about specific amount. But we're here for long-term," he said.
IKEA Cheras will be one of the first few retail developments to be ready in the booming township. It will also link to MyTown shopping centre, a joint-venture project between Boustead Holdings Bhd and Ikano Pte Ltd. MyTown is expected to open in the second quarter next year.
Despite weak consumer sentiment, he said the company generally tends to do better during tough times due to the affordability of its products.
"We have worked over the last five years to bring down our product prices, with an average reduction of 2% to 3% per annum," he added.
To date, there are more than 365 IKEA stores in 47 countries, including one in Malaysia.