First IKEA mall to be set up in Gurgaon at Rs 3,500 crore

Ingka Centres, which includes IKEA Retail and Ingka Investments, told the media that the company is planning to set up an IKEA mall in Gurgaon with an estimated cost of around Rs 3,500 crore. The company said that the project construction will begin in 2022 and is expected to generate over 2,500 job opportunities in India. The development with a GBA of about 130,000 sq metres will complement its plan for Noida. The new place will set the standard for the generation of sustainable mixed-use destinations, entertainment and retail in one of the world's fastest-growing markets. Its development in India is a part of its strategy to expand its business in new markets, reshaping its portfolio of retail destinations. With Gurgaon and Delhi NCR regions growing population and building around the requirements of the people, the retail centre will be able to welcome over 20 million people annually. The new meeting place will offer vibrant hospitality, entertainment, food and learning space along with the wide retail in the IKEA store. The place is well-connected with public transport and further improve with a metro line in the city, creating cleaner and greener ways of travelling. The company is working closely with the local authorities to enable convenient and direct access to the metro. The meeting place will be developed under the Livat brand. The company wants to create a sustainable lifestyle to meet everyday needs. Managing Director of Ingak Centres, Cindy Andersen, said that the company is on a journey to reach more people through more developments in the market. India will bring new experiences and customers. The meeting place in Gurugram will provide a seamless omnichannel experience for the customers. It will help in bringing together different communities through state-of-the-art digital infrastructure. CM of Haryana, Manohar Lal Khattar, welcomes IKEA and Ingka Centres. He said that the government is looking forward to a partnership with the companies to build organised retail and meet the growing demand of the customers. The government will provide full support to facilitate a smooth investment flow in the state. Ingka Centres had announced that it bought a plot in Noida. Its first store was opened in Hyderabad in 2018. Image Source