The world’s largest IKEA mall business said on Tuesday that it had purchased a parcel of Gurgaon for the first shopping center to open in India.
With 47 malls and itself called a “meeting place”, Ingka Centers, backed by IKEA stores in Europe, Russia and China, plans to enter North America and India, with an estimated investment in the project. Is about 400 million euros and its construction will begin in early 2022.
Managing Director Cindy Andersen told Reuters that he plans to complete a center in late 2025 that will have office space in addition to the IKEA store.
Ingka Centers announced plans to buy a parcel of Noida in February and invest nearly Rs 5,500 in India’s first shopping center, but announced on Tuesday that one of Gurgram will open before that.
Andersen said in an interview that the Neuda store wants to open shortly after Gurgaon.
Like furniture giant IKEA, Ingka Centers is looking for locations that span major cities in many markets. In India, the Inca Center will focus on two Delhi projects for the time being, according to Andersen.
IKEA opened its first store in Hyderabad, India in 2018.
Ingka Centers is owned by Ingka Group, which owns most IKEA stores around the world.