August 1 (SeeNews) - Croatian construction company Tehnika [ZSE:THNK-R-A] said it has signed an agreement to build part of Designer Outlet Croatia, to be located near the store of IKEA in Zagreb.
Tehnika will be in charge of building 25% of the outlet, which will have a total area of 139,130 sq m, the company said in a filing with the Zagreb Stock Exchange on Monday.
Financial details of the contract were not disclosed.
Last month, Croatian media reported that IKEA Centers and Swiss-based Mutschler Outlet Holding will invest 88 million euro ($103.9 million) in the construction of Designer Outlet Croatia, to be built in two phases, the first of which is worth 60 million euro and is planned to be completed in spring 2018.
The fashion outlet will initially spread over 15,000 sq m and consist of 90 shops. The second construction phase will see the retail area expand by 60 stores and an area of 25,000 sq m.
The outlet will be managed by Austrian-based ROS Retail Outlet Shopping.