Austria's chain of furniture stores Kika Liner will open its first department store in Serbia in November, which will employ 200 people, it was confirmed in Vienna.

The investment is worth about EUR 300 million, and the store will be located in New Belgrade, Austria's media report.

The company also announced that it will employ 200 workers in its first store in Serbia, which will cover an area of 11,000 square meters.

The company currently does not plan further expansion in Serbia, Kika spokesperson Ava Lutenfeldner said, adding that the operation of their first store in Serbia should first be followed.