Companies

Ingka Group’s first mall to come up in Gurugram

Our Bureau New Delhi | Updated on November 23, 2021

Ikea’s parent company to invest ₹3,500 crore

Ingka Centres, part of the Ingka Group, on Tuesday announced plans for a new IKEA-anchored mixed-use development project in Gurugram, Haryana.

The company said it will invest about €400 million (₹3,500 crore) on the project in Gurugram. The construction will start in early 2022 and the company expects the project to generate more than 2,500 jobs fuelling further growth of organised retail in India, the company added.

Ingka Group owns IKEA Retail and Ingka Investments.

The new “meeting place” will be developed under the Livat brand and will offer a mix of hospitality, food and beverage, ‘edutainment’ learning spaces, alongside a wide retail space anchored by an IKEA store. Ingka Centres will work closely with local authorities to enable a convenient and direct access to the metro.

Retail destination in Noida

Earlier this year, the company has announced plans to set up Ikea-anchored retail destination in Noida with investments of about ₹5,500 crore. The company said that the Gurgaon project development, (with a GBA of around 130,000 sq m) will complement the company’s plans announced for Noida earlier this year.

“Catering to the Gurugram and Delhi National Capital Region’s growing population and built around the needs of the local community, the meeting place is expected to welcome more than 20 million people annually,” the company added .

Cindy Andersen, Managing Director, Ingka Centres said, “We are on a journey to reach more people through more developments in more markets. India is an exciting opportunity for us and our partners to bring new experiences to customers and to develop meeting places that bring value to communities and the planet. This is why our first Livat meeting place in India will be adaptable, with multiple offerings to match consumer lifestyles long into the future.“

Ingka Centres’ move to India is a part of its strategy to expand into new markets and to shape a portfolio of retail-led destinations that are fit for the future and appeal to all, the company added.

Peter Betzel, CEO and CSO, IKEA India added, We are happy to announce our IKEA store in Gurugram together with Ingka Centres. India is an exciting country for IKEA, and we have a long-term commitment to reach the many people with our omnichannel approach. Delhi NCR will be one of our biggest and most important markets in India”

The new meeting place will deliver a seamless omnichannel experience for customers. “From ordering goods online, to personalising their experience at the centre, or just finding their way around, digital channels will help bring together communities of interest and enrich every visit through a state-of-the-art digital infrastructure,” the company added.

Published on November 23, 2021

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