Ingka Centres, part of Ikea's retail operator Ingka Group will invest 900 million euros (nearly Rs 7,245 crore) in India to set up two centres for business, meetings and shopping over the next few years.
According to a top company official, Ingka Group (which also includes IKEA Retail and Ingka Investments) on Tuesday started construction work of its first 'Ingka Centre' with an investment of 400 milion euros. It plans to set up a similar centre at Noida too. While the Gurugram centre is slated to open in late 2025, it is yet to finalise a timeline for the opening of the Noida site as it is in the process of getting approvals.
”We have a plan to invest 400 million euros here at Gurugram... We have another project that e are planning to bring in to Noida. The (investment) plan in these new projects is 900 million euros. 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. Through Ingka Centres, the company tries to cater to the needs of the local community. The centre will have other retailers, office space and also facilities for food and beverages," said Ingka Centres Global Expansion & Development Director Jan Kristensson.
Ingka Group's Ingka Centre offers shopping place, office space, food & beverage outlets and social activities collaborating with local communities. The company is open to the idea but it is not on the immediate plans for the company. Presently, 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.
