IKEA paid 80 euros/sqm, Hornbach 120 euros/sqm

Selling price (120 euros/sqm plus VAT) is with 50% larger compared to the one agreed upon by IKEA in view of purchasing land in the same area (next to Leroy Merlin). In July 2023, the Swedish retailer signed an agreement to pay almost 4.2 million euros for 5.2 hectares, the price is 80 euros/sqm. Construction of the IKEA store could start this year (the authorization has been issued), but the retail chain has not yet announced a concrete calendar. The only certainty is that the retailer will come with a different concept in Iași compared to the stores in Bucharest and Timișoara, as a company official recently announced.

• Read also Green light for the first IKEA store in the northeast of the country: it will be built in Iași

In Romania, the retailer has four companies: Hornbach Central, Hornbach Real Estate, Hornbach Logistic Romania and Hornbach IT Hub, all registered in Ilfov County. Cumulatively, the turnover in 2024 was 1.66 billion lei with a profit of about 55 million lei and an average number of nearly 1,200 employees.

According to the international press, Hornbach is among the largest five retail companies for building and gardening materials from Europe. Founded in 1877, Hornbach is the only company in the DIY store sector that can boast a business history spanning six generations.