Ikea’s Retail Operator Ingka Group Plans To Set Up City Centres at Gurugram, Noida at Rs 7,245 Crore

Once open, these two city centres will generate around 2,500 jobs and create a sense of belonging among Gurugram and Delhi National Capital Region's growing population, the company said.

Edited By: Manmath Nayak

Published: August 16, 2022, 7:01 PM IST

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https://www.india.com/business/ikeas-retail-operator-ingka-group-plans-to-set-up-city-centres-at-gurugram-noida-at-rs-7245-crore-5575784/ Copy

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Gurugram: As part of Ikea’s retail operator Ingka Group, Ingka Centres on Tuesday made the announcement that it will invest Rs 7,245 crore (900 million euros) in India to set up two city centres for business, meetings and shopping over the next few years. The Ingka Group, which also includes IKEA Retail and Ingka Investments, said it has started construction work of its first ‘Ingka Centre’ with an investment of 400 milion euros, according to a top company official. The company said it is also planning to set up a similar centre at Noida as well.

According to news agency PTI, the Gurugram centre is likely to open in 2025 , whereas it is yet to finalise a timeline for the opening of the Noida site as it is in the process of getting approvals.

Once open, it is expected to generate around 2,500 jobs and create a sense of belonging amongst Gurugram and Delhi National Capital Region’s growing population, the company said.

Cindy Andersen, Ingka Centres Managing Director, told PTI: “Together with Ikea and the local community we are looking forward to bringing to life a new vibrant destination where people can work, play, meet, shop and spend time together in a more sustainable way which contributes to the further growth of this dynamic area.”

Susanne Pulverer, CEO and CSO, Ikea India, said: “Today marks a major milestone as we commence our project in Gurugram with the ground-breaking ceremony. We have a long-term commitment to Delhi NCR to create a positive impact on people, planet, and the local economy through our business.”

Giving details Jan Kristensson Ingka Centres Global Expansion & Development Director told PTI, “We have a plan to invest 400 million euros here at Gurugram. We have another project that we are planning to bring in to Noida. The (investment) plan in these new projects is 900 million euros.”

Talking about the timeline for the opening of the Noida centre, he said, “We need to look at the final plans that need to be approved and based on that we will make a schedule for when we can open, but it will be later than 2025-26.”

Giving more updates, he said through Ingka Centres, the company tries to cater to the needs of the local community and the city centres will have other retailers, office space and also facilities for food and beverages.

It must be noted that the Ingka Group’s Ingka Centre offers shopping place, office space, food and beverage outlets and social activities collaborating with local communities.

Talking about the company’s plan to open more Ingka Centres in cities such as Bengaluru and Mumbai, he said the company is open to the idea but it is not on the immediate plans for the company.

“As of now, Ingka Group is operating 45 ‘Ingka Centres’ globally. The total building area of the Gurugram centre will be around 17 lakh square feet spread over nine floors, and help generate around 2,500 jobs,” the company said in a statement.