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.

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

Ticker MORE

Titanium acquires Ozols shopping center in Riga

The asset was exited by KS Holding to Titanium Baltic Real Estate. The former shopping center Galerija Azur was acquired by the seller in 2016 and redeveloped over three years, then opened under the new name Ozols.

Coniq develops new loyalty programs for Reem Mall in Abu Dhabi

Coniq announced their partnership with Reem Mall (Abu Dhabi) to develop innovative engagement and loyalty programs for unique customer journeys backed by the latest data science, especially for the GCC market.

FCR buys 26, 000 sq m shopping center in Eisenach

FCR Immobilien AG has acquired a shopping center in Eisenach, Thuringia, with a sales area of approximately 26,000 sq m as part of the continuous expansion of its portfolio.

Debenhams.com opens first UK store in Manchester Arndale

Manchester Arndale announced that fashion retailer Boohoo has opened its first Debenhams.com beauty store at the center.

Trafford Center launches Tinsel Town outdoor experience for festive period

Manchester’s Trafford Centre created a festive outdoor experience with Tinsel Town, following the recent Summer Social and Spookfest events.

400th Primark store opens in Italy

Primark opened its 400th international store in Sicily (Italy) today, which now totals eight fashion outlets in their Italian portfolio.