NEW DELHI: Ingka Centres, a sister organisation of home furnishing retailer IKEA, plans to invest over Rs 7,300 crore in two of its retail and office spaces in Gurgaon and Noida.
The Sweden-based company on Tuesday formally started the construction of retail and office space in Gurgaon. The new IKEA anchored ‘meeting place’, as Ingka Centres like to call it, would be spread over an area of 1.7 million sq ft area and would be built with an investment of Rs 3,500 crore.
Ingka Centres, part of the Ingka Group (which also includes IKEA Retail and Ingka Investments), the first ‘meeting place’ in India, is expected to open by late 2025. The centre will have a mix of food and beverage and edutainment learning spaces, alongside a wide retail offer anchored by IKEA and with a combination of global and local brands. The centre will also have an office space spread across 320,000 sq ft sitting atop the retail space.
Jan Kristensson Ingka, Global Expansion & Development Director, of Ingka Centres told TNIE the group is planning another such centre in Noida. He said that they have already identified a plot in Noida for the Centre and they would announce the construction of the centre in Noida in six months.