Home Big Grid Ingka Group to invest over Rs 7000 crore in India to set...

Ingka Group to invest over Rs 7000 crore in India to set up two malls

By  
SHARE

Ingka Centres, the part of Ikea’s retail operator Ingka Group has announced that the company will invest 900 Million Euros (Nearly Rs 7,245 crore) in India to build two malls that would also house other brands apart from Ingka’s flagship IKEA stores.

Ingka Group started its work to set up the Ingka Centre in Gurgram and with this investment, the company is also planning to open the same centre in Noida as well, according to media reports.

The Gurugram centre will open in 2025, but there is no decided deadline for the Noida Centre as yet as there are some final plans that need to be approved.

Through Ingka centres, the company is expecting to fulfill the local customer needs as well. The new centres will also cater other retailers, office space and facilities for food and beverages, according to the reports.

Currently, Ingka Group is operating 45 Ingka Centres globally. The new Gurugram centre will be spread around 17 lakh square feet over nine floors.

Ikea India presently operates in five states in this country. They have three big format stores at Hyderabad, Navi Mumbai and Bengaluru. Besides that, the company also operates two city centres in Mumbai.