IKEA, the global furniture giant, in a joint venture with realty major, Rustomjee, will build 1,200 fully-furnished flats at Global City project in Virar, Mumbai. The partners will design and furnish the flats to meet the aspirations of young home buyers with a limited budget. IKEA with its contemporary and affordable furniture is keen to penetrate the Indian real estate market. Store Manager, IKEA Mumbai, Nicolas Silversved said that there is a synergy between the aspirations of one and two BHK homes, which Rustomjee has designed at Global City, and IKEA’s brand philosophy of building homes for the common man. Globally, IKEA follows a B2C as well as B2B model, supplying furniture to small and medium companies, restaurants, and works in collaboration with real estate developers. It is likely to enter into more such tie-ups in India too. Commenting on the development, Chairman and Director, Rustomjee Group, Boman R Irani, said that the association with IKEA is the first of its kind in India, and the two partners share a common goal of providing affordable flats.
📅Published on:
22 January 2019
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