New Delhi: Global home furnishing major Ikea said on Friday it has bought a 48,000 square metre plot in Noida on the outskirts of national capital to open
Ikea to invest Rs 5,500 crore for its first India shopping mall in Noida ANI | Updated: Feb 19, 2021 17:19 IST
By Shailesh Yadav
New Delhi [India], February 19 (ANI): Global home furnishing major Ikea said on Friday it has bought a 48,000 square metre plot in Noida on the outskirts of national capital to open a shopping centre.
Ingka Centres, which has Ikea store-anchored malls across Europe, Russia and China, plans to invest nearly Rs 5,500 crore in the Noida project.
The move comes close on the heels of launching second Ikea store in India in Mumbai two months ago. Ikea opened its first store in India during 2018 in Hyderabad.
IKEA operator Ingka to invest ₹5,500 cr in India thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Ingka Centres enter the Indian market with its first IKEA-anchored destination in Noida
By IANS |
Published on
Fri, Feb 19 2021 16:06 IST |
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UP govt signs MoU with Ikea (ld). Image Source: IANS News
New Delhi, Feb 19 : Ingka Centres, part of the Ingka Group, (which also includes IKEA Retail and Ingka Investments), has today taken its first step to expand into India with a major land acquisition in India.
The 47,833 sq. m plot in Noida, Uttar Pradesh will be developed into an IKEA anchored retail destination, adding to Ingka Centres 45 existing Meeting Places around the globe.
The acquisition reinforces the Ingka Group s long-term expansion plans in India. This announcement comes close on the heels of launching the second IKEA India store in Mumbai in December 2020. IKEA Hyderabad, which was the first store in India, has been open for more than two years and the company operates online in Mumbai, Pune and Hyderabad.
Ikea to pump in Rs 5,500 crore to build mall in Noida indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.