Haryana-IKEA inks Rs. 842-cr realty pact

Haryana Urban Development Authority (HUDA)
The Haryana Urban Development Authority (HUDA) recently sold approximately 10-acre plot to Swedish furniture maker IKEA for around Rs 842 crore in Sector 47 of Estate-II of HUDA Gurugram. The site, which was put for e-auction, IKEA successfully walked away with the property deal. The offshore company will set up its furniture manufacturing facility and sales outlets in and around the project site injecting major booster to economic activities of the area.

With IKEA making its presence felt in Gurugram, the move will highlights the importance and position of the city in the global marketplace as a business and investor friendly destination. The site was put for e-auction three times earlier but had no takers until October 31 when the multinational finally participated and emerged successful bidder.
Published on 04 November 2017
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