Ingka Centres, which is a part of the Ingka Group including IKEA Retail and Ingka Investments, has decided to invest ₹7,500 crore in developing two shopping destinations in NCR. Global Expansion Head, Ingka Centres, Jan Kristensson, informed that the company received the Indian government’s approval to invest ₹10,500 crore in the country to open big-box stores in 2013. The proposed investment was part of that, but the company is open to increase the investment amount.
Spread over 1.7 million sq ft, Gurugram’s retail destination will have the country’s first Ingka Centre, which the company aims to make operational by 2025, while work at Noida centre is at planning stage. The total building area of the Gurugram new retail destination will be 1,700,000 sq ft over nine floors and it will deliver a mix of food and beverage and edutainment learning spaces, alongside a retail offer anchored by IKEA, with a combination of global and local brands.