Main entrance of the mixed-use development in Gurugram. Credit: Ingka Centers
Development | Investment | Ticker

Ingka Centers plans first IKEA anchored meeting place in India

Ingka Centers revealed plans for a major new IKEA anchored mixed-use development in Gurugram, a city southwest of New Delhi, in the state of Haryana.

The development, with a GBA of around 130,000 sq m is Ingka Center’s 52nd meeting place and will offer a mix of hospitality, food and beverage, ‘edutainment’ learning spaces, alongside a wide retail offer anchored by an IKEA store. It is being developed to act as a local community hub, with spaces for festivals and exhibitions throughout the year.

The estimated investment for the project is around €400 million (Rs. 3500 crores). While construction will start in early 2022, the new meeting place is expected to generate more than 2500 jobs and will contribute to further growth of organized retail in India.

Catering to the Gurugram and Delhi National Capital Region’s growing population, the development is expected to welcome more than 20 million people annually who will come to shop, work, eat, exercise, learn, and socialize. 

Cindy Andersen, Ingka Centers Managing Director, commented“India is an exciting opportunity for us and our partners to bring new experiences to customers and to develop meeting places that bring value to communities. Our first Livat meeting place in India will be adaptable, with multiple offerings to match consumer lifestyles long into the future.”

Peter Betzel, CEO and CSO, IKEA India said, “We are happy to announce our IKEA store in Gurugram together with Ingka Centers. India is an exciting country for us, and we have a long-term commitment to reach the many people with our omnichannel approach. Delhi NCR will be one of our biggest and most important markets in India.”

The project will be developed under the new Livat brand, a Swedish word that means ‘a lively happening’. It has been awarded LEED Gold precertification, with 100 per cent water recycling, sustainable construction techniques, renewable energy sourcing, and charge points for electric vehicles. 

The new meeting place will deliver an omnichannel experience for customers. From ordering goods online, to personalizing their experience at the center, or just finding their way around, digital channels will help bring together communities of interest.

“We look forward to this partnership with IKEA and Ingka Centers to build organized retail and meet the growing needs of consumers in the State and the region. This project will not only establish Gurugram as one of the newest shopping destinations but also provide employment in the region,” Shri Manohar Lal, Hon’ble Chief Minister of Haryana, concludes.

Tags: , ,

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

“CREATING VALUE IN EVERYTHING WE ARE DOING”

Consumer behaviors and the business environment are changing fast under the global circumstances. Therefore, it is critical for real estate development companies to keep a pulse on both. The consumer is today at the heart of business more than ever before, say Jovana Cvetković and Nemanja Bućinac from MPC Properties.

Top 20 Store Openings to Watch in April 2022

Shopingy Mall Analyser and ACROSS Magazine present the top 20 store openings to watch on a monthly basis. Find here the exclusive data for April 2022.

The s.Oliver fashion brand has arrived in Belgrade

s.Oliver chose MPC Properties shopping centers network, UŠĆE Shopping Center, BEO Shopping Center and Delta City, to enter the Serbian market.

Atrium Promenada refurbishment is well underway

Over 80% of the redevelopment of Atrium Promenada in Warsaw is now pre-leased. Upon completion, the refurbished flagship will house over 150 retail and service units in the latest concepts. The completion of the renovation is scheduled to open in the second quarter of 2023.

24th Retail Symposium by RegioPlan: “Face the Change“

The 24th Retail Symposium showed that - despite the turbulent times - the Austrian retail and retail property sector is by no means pessimistic about the future. The industry rather works on new concepts and possibilities to tackle new challenges with determination.

M&S to open new store at Lakeside

Lakeside, owned by property company SGS, announces M&S has signed to open a new store at the center, due to launch in Spring 2023.