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Ingka Centre to invest 900 million euros to open city centres at Gurugram and Noida

While the Gurugram centre is slated to open in late 2025, it is yet to finalise a timeline for the opening of the Noida site as it is in the process of getting approvals.

August 16, 2022 / 05:23 PM IST
While Earth Copia/Ananta is in Sector 112 of Gurugram, Earth Sapphire Court is in Knowledge Park 5 in Greater Noida and Earth Techone is located on the Yamuna Expressway Tech Zone in Greater Noida.

While Earth Copia/Ananta is in Sector 112 of Gurugram, Earth Sapphire Court is in Knowledge Park 5 in Greater Noida and Earth Techone is located on the Yamuna Expressway Tech Zone in Greater Noida.

Ingka Centres, part of Ikea's retail operator Ingka Group, on Tuesday said it will invest 900 million euros (nearly Rs 7,245 crore) in India to set up two centres for business, meetings and shopping over the next few years.

According to a top company official, Ingka Group (which also includes IKEA Retail and Ingka Investments) on Tuesday started construction work of its first 'Ingka Centre' with an investment of 400 milion euros. It plans to set up a similar centre at Noida too. While the Gurugram centre is slated to open in late 2025, it is yet to finalise a timeline for the opening of the Noida site as it is in the process of getting approvals.

"We have a plan to invest 400 million euros here at Gurugram We have another project that we are planning to bring in to Noida. The (investment) plan in these new projects is 900 million euros," Ingka Centres Global Expansion & Development Director Jan Kristensson said.
PTI
first published: Aug 16, 2022 05:23 pm
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