The store, which is situated just north of the A22 motorway Faro and Loulé exits, is set to open during the course of next
year.
The entire project in Loulé is expected to generate over 3,000 direct and indirect jobs.
Richard Vathaire, Managing Director of IKEA Centres, the global company operating the IKEA group’s shopping centres, believes this number is likely to be higher, especially during the construction phase of the complex.
Richard Vathaire recently told The Portugal News that the store will compete with the best Europe has to offer.
“Despite the current economic situation, we want to continue with our contribution to the development of the Portuguese economy with quality projects and ones that create wealth and jobs.”
The new store will come at a cost of 200 million euros and is part of an expansion plan that will see the company grow to ten stores across the country.
Loulé IKEA will cover 24,000m2 and the shopping centre will boast 220 stores and 3,500 parking spaces spread over an area of 85,000m2.
IKEA currently have four stores in Portugal at Alfragide, Loures, Braga and Matosinhos, with a factory located at Paços de Ferreira.
Other potential locations are in central Portugal and the Greater Lisbon Area, but none are planned for the Alentejo while Loulé is deemed sufficient to serve the needs of the population in southern Portugal.