900 Million Euros Investment By Ingka Group To Open Gurugram And Noida Centres

Ingka Centres, under IKEA retailer Ingka Group, on Tuesday invested 900 million euros (appx. Rs. 7.245 trillion) in India to build two centres for business, meetings, and shopping over the next few years.

Ingka Group started construction work on its first 'Ingka Center' with an investment of 440 million euros, as reported by a top executive at the firm. There are also plans to set up a similar centre in Noida. The Gurugram Centre is scheduled to open in the second half of 2025, the timeline is still pending to be finalised.

Through the Ingka Centre, the company seeks to serve the needs of the local community. The centre will also feature additional retail, office space, and food and beverage outlets.

The company also plans to open more Inka centres in cities such as Bengaluru and Mumbai, eventually and not immediately. The Ingka Group currently operates 45 'Ingka Centers' worldwide. The Gurugram Centre will have a total construction area of about 17 square feet spread over nine floors and will help create around 2,500 jobs, as per the official statement of the firm.

Scheduled to open in late 2025, the Gurugram-based Inka Centre will also house an IKEA retail store. The company expects an annual attendance to reach 20 million, the statement added.

Ingka Group operates IKEA retail operations in 32 markets and accounts for around 90% of sales. The three divisions under it are:- IKEA Retail, Ingka Investments and Ingka Centres.