IKEA’s First Mall in India To Come Up in Haryana’s Gurgaon

MD Cindy Andersen said that their Noida store would be opened shortly after IKEA's mall opens at Gurugram.

Ingka Centres, which is a part of Ingka Group, which also includes IKEA Retail and Ingka Investments, on Tuesday, 23 November, revealed that it would be opening its first shopping centre or 'meeting place' in India at Haryana's Gurugram. Image used for representational purposes. 

(Photo: BloombergQuint )

Ingka Centres, which is a part of Ingka Group, which also includes IKEA Retail and Ingka Investments, on Tuesday, 23 November, revealed that it would be opening its first shopping centre or 'meeting place' in India at Haryana's Gurugram.

The estimated investment for the project, the company said, was around €400 million (Rs 3,500 crore).

The construction of the mall is set to begin from early 2022 and is expected to generate over 2,500 jobs and in turn contribute to the growth of organised retail in India, Ingka Centres said, Livemint reported.

'Committed to Provide Best Possible Support for Smooth Investment Flow'

Peter Betzel, CEO and CSO, IKEA India said he was happy to announce the opening of their mall at Gurugram and added that Delhi NCR would be one of their "biggest and most important markets" in India.

"We can't wait to meet and inspire people in the region with our well-designed, affordable, and beautiful home furnishing products and solutions," he said.

Welcoming IKEA and Ingka Centres to Haryana, the state's Chief Minister Manohar Lal said that the government looked forward to the partnership and hoped that it would build organised retail and meet the growing needs of customers in the state. He added that the state was committed to providing the best possible support to "facilitate a smooth investment flow into the state".

In February, Ingka Centres had announced that it had bought a plot on the outskirts of Delhi at Noida and was planning to invest around 55 billion rupees for its first mall in India. However, it said on Tuesday that the shopping centre in Gurugram would open first.

In an interview, Managing Director Cindy Andersen said that the Noida store would be opened shortly after IKEA's mall opens at Gurugram.

IKEA had opened its first store in India in 2018 at Hyderabad.

(With inputs from Livemint)