Puravankara Leases Major Retail Space To IKEA At Zentech Park

18 Nov 2025 CW Team

Purva Zentech Park is a mixed-use commercial development offering around 960,000 square feet of leasable and saleable area. Typical floor plates measure approximately 50,000 square feet, with modular units of 4,500 to 5,000 square feet available for lease or purchase. Located within a five-minute walk of both Konankunte Metro Station and Forum Mall, the IGBC Gold-certified project is designed to support large-format tenants as well as mid-sized occupiers. The development is under construction and scheduled for completion by early 2026.

IKEA will occupy the first and second floors, both designated for retail use. The space is expected to be handed over in Q1 2026, with operations to commence thereafter. Colliers’ office services team acted as the advisor for the transaction.

Rajat Rastogi, CEO – West and Commercial Assets at Puravankara Limited, said, “We are excited to onboard IKEA at Purva Zentech Park. Their decision to take more than 120,000 square feet of retail space across two floors strongly validates the project’s location, smart design, and adaptable layout. With Bengaluru’s leasing activity continuing to grow, particularly in the southern corridor, we are confident the development will evolve into a vibrant hub for business and lifestyle. IKEA’s presence marks a significant beginning and will help shape the project’s appeal and tenant mix.”

Puravankara currently has a commercial development pipeline of 3.2 million square feet, with nearly 2 million square feet expected to receive occupancy certificates within this financial year. Projects such as Purva Zentech Park and Purva Aerocity in Bengaluru are expected to generate a surplus of Rs 18.7 billion, presenting a major value-creation opportunity for the company. This latest development strengthens Puravankara’s commercial real-estate portfolio and deepens its presence in South Bengaluru’s high-growth corridor

Puravankara Limited, one of India’s most trusted real-estate developers, has announced the signing of an Agreement to Lease (ATL) with IKEA India for two floors of retail space at Purva Zentech Park on Kanakapura Road, Bengaluru. Purva Zentech Park is a mixed-use commercial development offering around 960,000 square feet of leasable and saleable area. Typical floor plates measure approximately 50,000 square feet, with modular units of 4,500 to 5,000 square feet available for lease or purchase. Located within a five-minute walk of both Konankunte Metro Station and Forum Mall, the IGBC Gold-certified project is designed to support large-format tenants as well as mid-sized occupiers. The development is under construction and scheduled for completion by early 2026. IKEA will occupy the first and second floors, both designated for retail use. The space is expected to be handed over in Q1 2026, with operations to commence thereafter. Colliers’ office services team acted as the advisor for the transaction. Rajat Rastogi, CEO – West and Commercial Assets at Puravankara Limited, said, “We are excited to onboard IKEA at Purva Zentech Park. Their decision to take more than 120,000 square feet of retail space across two floors strongly validates the project’s location, smart design, and adaptable layout. With Bengaluru’s leasing activity continuing to grow, particularly in the southern corridor, we are confident the development will evolve into a vibrant hub for business and lifestyle. IKEA’s presence marks a significant beginning and will help shape the project’s appeal and tenant mix.” Puravankara currently has a commercial development pipeline of 3.2 million square feet, with nearly 2 million square feet expected to receive occupancy certificates within this financial year. Projects such as Purva Zentech Park and Purva Aerocity in Bengaluru are expected to generate a surplus of Rs 18.7 billion, presenting a major value-creation opportunity for the company. This latest development strengthens Puravankara’s commercial real-estate portfolio and deepens its presence in South Bengaluru’s high-growth corridor

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

Infrastructure Energy

12 Dec 2025

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

Infrastructure Energy

12 Dec 2025

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..