Ikea has clarified its plans for the Russian market over the next few years and expects to invest e180m (£154m) to open three new stores. The shops will be located in Moscow, St Petersburg and one of the country’s other ‘megacities’ with a population over 1 million. The Moscow store is understood to be a 123-acre store just north of the city, which will be Ikea’s largest in Europe and one of the biggest in the world. Construction is due to start in 2012 and expected to complete in 2013.

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