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World's largest Ikea to open in the Philippines

Swedish furniture maker to enter country with 65,000-sq.-meter outlet

Ikea's store in Singapore. The planned Philippine store is set to open by 2020. (Photo courtesy of Ikea)

MANILA -- Swedish home furnishing juggernaut Ikea said on Tuesday it will spend 7 billion pesos ($133 million) to open its largest store and first in the Philippines.

Under the plans, unveiled on Tuesday, Ikea Southeast Asia, the franchisee, will make the initial investment to build up an inventory of 9,000 types of products and to set up operations.

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