Construction of the mixed-use development, which it calls ‘meeting place’ will start in early 2022 and is expected to create more than 2,500 jobs. The company expects to receive more than 20 million people annually at this meeting place.
Manohar Lal Khattar, Chief Minister of Haryana, said: “We welcome the IKEA and Engka shopping centers to the state of Haryana. The government is committed to provide the best support to facilitate the smooth flow of investments in the state. This project will not only establish Gurugram as one of the trendiest shopping destinations, but also provide employment in the region. This step is yet another validation of our development plans for the region.”
Ingka Centers says its move to India is part of its strategy to expand into new markets and build a portfolio of retail-led destinations that are future-proof and attractive to all.
“India is an exciting opportunity for us and our partners to offer new experiences to clients and develop meeting places that add value to communities and the planet,” said Cindy Andersen, managing director, Ingka Centres.
The 52nd meeting place for Ingka Centers will be developed
under the new Livat brand and will offer a mix of hospitality, food and
beverage , ‘edutainment’ learning spaces, alongside the extensive retail
offering offered by an IKEA store. The company says it will work closely with
local authorities to allow convenient and direct access to the metro.
Peter Betzel, CEO and CEO of IKEA India said: “We are
delighted to announce the IKEA store on Gurugram together with the Ingka
centers. India is an interesting country for IKEA and we have a long-term
commitment to reaching so many people through of our omnichannel approach.
“
This is the company’s second largest development in the
National Capital Region (NCR). In February 2021, it announced the acquisition
of a 47,833 sq meter plot in Noida to develop a meeting place and is investing
close to Rs 5,500 crore (above €600 million) for its development.
Ingka Group launched its first IKEA India store in Hyderabad
in August 2018 and the second store in Navi Mumbai in December 2020. The
company also operates online in Mumbai, Bengaluru, Hyderabad, Pune, Ahmedabad,
Surat and Vadodara. Courtesy: www.realty.economictimes.indiatimes.com
