Ingka Group, That Handles IKEA Operations, to Open Its First Shopping Centre in India at Gurugram

New Delhi, November 23: Ingka Centres, part of Ingka Group - which handles Swedish furniture major Ikea's retail operations, on Tuesday announced it will open a shopping centre in Gurugram, with an investment of around 400 million euros (around Rs 3,300 crore).

"While construction will start in early 2022, the new meeting place is expected to generate more than 2,500 jobs and will contribute to further growth of organised retail in India," said a statement from Ingka Group. Also Read | IPOs to Watch Out For: From Ola To GoAir, Know More About These IPOs Set to Hit The Indian Market Soon.

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, it added. Also Read | ISRO Working on Futuristic Technologies, Intelligent Satellites, Says Chairman K Sivan.

The new shopping centre, which will be developed under the new Livat brand, a Swedish word that means 'a lively happening', would have a Gross Building Area of 130,000 sq meter.

It will also complement Ikea's plans to enter Noida, as announced earlier this year. Livat Gurugram will also cater to Gurugram and Delhi NCR's growing population and is expected to welcome more than 20 million people annually who will come to shop, work, eat, exercise, learn and socialise.

"Ingka Centres 52nd meeting place will offer a vibrant mix of hospitality, food and beverage, 'edutainment' learning spaces, alongside a wide retail offer anchored by an IKEA store. It is being developed to act as a local community hub, with spaces for festivals and exhibitions throughout the year," it said.

Livat Gurugram will reflect best practice in energy and water efficiency.

Commenting over the development Ingka Centres Managing Director Cindy Andersen commented: "We know that when it comes to retail and leisure, change is the only constant. This is why our first Livat meeting place in India will be adaptable, with multiple offerings to match consumer lifestyles long into the future. We want to create destinations that make it easier for people to live even happier, healthier and more sustainable lifestyles – this will be our goal at Gurugram."

While IKEA India CEO and CSO Peter Betzel said: "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 statement also quoted Haryana Chief Minister Manohar Lal Khattar welcoming IKEA and Ingka Centres in his state. "We look forward to this partnership with IKEA and Ingka Centres to build organised retail and meet the growing needs of consumers in the state and the region. The government is committed to provide best support to facilitate a smooth investment flow into the state. This project will not only establish Gurugram as one of the newest shopping destinations but also provide employment in the region," said Khattar.

Ingka Centres, part of the Ingka Group, has a portfolio of 47 shopping centres in 16 markets. Ingka Group is the largest IKEA retailer and represents about 90 per cent of IKEA retail sales. It has retail operations on 32 markets.

IKEA India, part of Ingka Group opened its first retail store in Hyderabad in August 2018 followed by a store in Navi Mumbai store in December 2020.

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