Real estate deal in Munich: What Ikea plans to do with the Pasing Arcades – Munich

The furniture store is buying the Munich shopping center for 388 million euros. “Not for fun,” as they say – the group is apparently preparing to open a large branch in the west of the city.

The furniture group Ikea is buying the Pasing Arcaden in Munich. The previous owner, Unibail-Rodamco-Westfield (URW), has sold the 46,300 square meter shopping center with its 7,000 square meters of office space to the Ingka Group. The company owns the Ikea furniture stores and numerous shopping centers. A net price of 388 million euros was agreed. Ikea is apparently preparing to open a new, larger branch in the west of Munich. Informed sources say that Ikea did not make the property purchase “for fun” and is currently rethinking its branch concept.

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