A municipality just outside Tallinn has sold just under 21 hectares of land to Swedish furniture giant IKEA for €2 million, Baltic News Service reports.
The Rae municipality sold the land, at Põlluvälja, last week, with the transaction subsequently being notarized.
The contract agreed makes the purchases responsible for establishing a retail outlet of 25,000 sq meters.
"IKEA representatives chose the Põlluvälja property, in Külmaa village, promising to build a new exit road from the ring road, internal roundabouts and collector roads on the property. deputy rural municipality mayor Priit Põldmäe said earlier in the month.
"The rural municipality and Road Administration (Maanteeamet) found this to be satisfactory, and negotiations continued," Põldmäe, who held the negotiations with IKEA representatives, told regional paper Harju Elu.
IKEA opened an online store and order and collection point with a limited selection from the IKEA catalog in August. The online store was the first instance of IKEA entering a market in this way, before establishing a bricks-and-mortar outlet. The order and collection point is on Peeterburi tee in Tallinn.
IKEA currently has 420 stores in more than 50 countries worldwide; Estonia is actually the last of the three Baltic States to get an IKEA branch.
Editor: Andrew Whyte