BULGARIA — The first IKEA store in Bulgaria is scheduled to open in Sofia in the last quarter of 2011.

Projections call for more than 1.6 million customers to visit in its first year, according to the Fourlis Group, a Greek company that is IKEA’s franchise holder for Greece, Bulgaria, and Cyprus. It plans to invest EUR 50 M in the construction, which will start with a ground-breaking ceremony on June 3, 2010.

The store is expected to be completed by the end of 2011 and will employ approximately 350 people. Other potential IKEA sites in Bulgaria being considered by Fourlis include Varna and in the Plovdiv-Stara Zagora region in Southern Bulgaria

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