Swedish home furnishing giant Ikea has completed the purchase of the land and site at Sylvia Park where its first New Zealand store is expected to open in late 2025.
Ikea New Zealand today announced the purchase from owner Kiwi Property Group of the 3.24 hectare site where construction began in June this year.
Mirja Viinanen, CEO and chief sustainability officer for Ikea New Zealand and Australia, said the completion of the sale and purchase agreement for the land was a milestone in the company’s market entry.
“[It’s] something we’ve been working towards since announcing our intention to bring Ikea to New Zealand,” she said.
Viinanen said development of the site and store is going well despite record rainfall in Auckland over the past couple of months.