Ikea’s property arm Ingka Centres has confirmed its acquisition of the Italie Deux shopping centre in Paris from retail property giant Hammerson, as well as its high-street extension Italik and the Apollo office complex.
The acquisition forms the “first urban meeting place in France” for Ingka Centres as it continues to expand the Livat brand, following the opening of Livat Hammersmith, London, in 2022 and other destinations in Toronto and San Francisco.
Ingka Centres said sustainability will be “at the forefront” of the deal as part of its bid to achieve 100% renewable energy by 2030.
The 915,000 sq ft Parisian shopping destination is currently home to retailers including Zara, Sephora and Carrefour, and attracts more than 11 million visitors annually.
The development has a “strong mix of flagship retail, leisure and dining options”.
Ingka Centres said that, following a refurbishment, the Apollo complex will also provide 190,000 sq ft of “state-of-the-art office space” alongside social areas and restaurants.
Ingka Centres managing director Cindy Andersen said: “Paris is famous for its unique vibe that brings people together and inspires great ideas.
“Italie Deux is one of the premier retail destinations in Paris, known for its mix of shopping, food and culture, and we are excited to continue to develop its offer with an affordable, sustainable range of destination retail, culinary experiences and amenities to help our partners and communities to thrive.
“Vibrant leisure and retail spaces close to the workplace are now seen as an essential element of the employer offer.
“We’re excited to bring Apollo, Italie Deux and Italik together as a united space for Parisiens to shop, work, and play, and enjoy everyday life in sustainable ways.”
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