IKEA leases out one lakh sq ft land in Bengaluru

08 Mar 2021 Editorial Team

Swedish multinational furniture retail conglomerate IKEA is eyeing a small-store format, spread over 100,000 sq ft, in Whitefield, Bengaluru.

IKEA, which opened its first store in Hyderabad in 2018, has also invested in a 14 acre land parcel in Nagasandra, Bengaluru, for a large format store.

Earlier, IKEA India had told the media that small format stores would be city centre stores and would have the same look and feel as any other IKEA store.

The small format store in Whitefield will have a smaller range on display, and the presentation will be different. IKEA has set up a 270,000 sq ft distribution centre in Pune in partnership with IndoSpace Industrial Park, which is leased at a cost of Rs 20 crore per year. It has also earmarked a Rs 750 crore expansion plan.

4th Indian Cement Review Conference 2021

17-18 March

Click for event info

Earlier, the company planned a further investment of Rs 100 crore in Pune to add another 250,000 sq ft of space. The Swedish company employs 1,000 people per store and 1,500 people indirectly and also sources 1,000 products locally, pricing them at less than Rs 200 per piece. It sources from 50 local manufactures, and its annual exports from India are worth over Rs 2,555 crore.

The retail giant expects to expand in areas such as merchandising, store operations, supply chain, and allied assembly services.

The first big format store opened in Turbhe, Navi Mumbai, and will. Currently, the company has invested Rs 10,500 crore in India and has spent half that amount till now.

Image Source

Also read: IKEA to launch its first mall in India

Also read: IKEA to invest Rs 60 bn in Maharashtra

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..