Ingka Group, the owner of IKEA furniture and home goods stores and a network of Mega shopping centers in Russia, has begun exploring buyers for a substantial real estate portfolio that spans more than 2 million square meters. Market observers describe this as a move to reallocate assets within the Russian retail and real estate sectors, with several insiders noting ongoing discussions with multiple potential buyers. A formal decision on the sale remains pending as talks continue behind the scenes. The management team of Ingka Centers, the division responsible for shopping malls within the broader Ingka Group, has consistently declined to comment on market rumors.
Industry insiders estimate the fair value of the Russian portfolio at roughly 5 billion dollars, with the possibility that the final sale price could be considerably lower if discounts are applied during negotiations. Depending on how negotiations unfold, the total value could be reshaped to around 3 billion dollars. Analysts point out that the portfolio has historically shown resilience in profit terms, even amid global health disruptions, which adds to the attractiveness of individual assets for investors. Nevertheless, the ongoing geopolitical sanctions and the broader context of Russia’s operations abroad have introduced significant risk factors for any long-term commitment. Given the scale of the Ingka Group’s footprint, a coordinated sale of all assets in a single transaction is unlikely; a phased approach, distributing assets among several investors, is viewed as the most plausible strategy.
Within the broader Russian industrial landscape, it was noted that new ownership of local manufacturing facilities associated with the Swedish retailer would maintain employment levels for the time being. Slotex JSC and Luzales LLC are mentioned as the new factory operators, with assurances that existing jobs will be preserved as the corporate structure reconfigures in response to shifting ownership. Market watchers emphasize that safeguarding local employment remains a priority in any potential transition, even as corporate realignment unfolds across Russia. While the exact terms of any asset transfer are not public, the emphasis in early discussions anchors on continuity for workers and steady production output during the changeover.