We own a furniture store in Larnaca. It's a family business with around 6 employees and believe it or not, we welcome Ikea to Cyprus. Furniture is not like groceries in supermarkets. With furniture you have thousands of different tastes to satisfy and you would never catch Ikea selling heavy solid-oak rustic tables, or antiques or many other types of furniture. Ikea cannot compete with us. The only businesses who will loose are those who sell cheap wooden or plastic furniture. Also the likes of Pissarides will be hit.
As far as Ikea goes, the plan is to open it at the ITL, which is shacolas answer to Orphanides shopping center in Nicosia. It's going to be HUGE and will house Chacolas most prominent companies which include Ikea, Next, Zara, Superhomecenter, debenhams and Larnaka International Airport (LOL... only kidding about the airport, that's staying in larnaka)
Andy