IKEA's malls arm branches out into housing with new centre in China

General view of the Livat shopping centre in Changsha, China in this picture obtained by Reuters on August 10, 2021. - Reuters

STOCKHOLM: IKEA's shopping malls business, one of the world's biggest, has kicked off the sales process for some 500 flats at its first-ever mixed-use retail and residential development, in Changsha in southern China.

Cindy Andersen, managing director at Ingka Centres since February, said in an interview she expected flat buyers to start moving in in March 2022, after the adjacent mall opened last month following delays due to the pandemic.