NOIDA: The UP government on Friday allotted 12.3 acres within the city to IKEA for what is going to be the Swedish furniture giant’s first ‘meeting place’ venture in India – a shopping, entertainment and business centre revolving round the flagship IKEA store.
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The Noida project is predicted to make more job opportunities, support infrastructure development, and growth of the organised retail and residential furnishings sector within the region
Chief minister Yogi Adityanath personally presided over the event virtually from Lucknow when Noida Authority transferred the land. the corporate paid Rs 56 crore as stamp tax to the govt to urge the land title transferred.
As Ikea plans to open its first plaza in India, the furniture giant was on Friday handed over a land parcel measuring nearly 50,000 sq metres in Noida’s Sector 51.
The Noida store are going to be IKEA’s third. It opened a store in Hyderabad 2018 and another in Navi Mumbai last year. the corporate said during a statement said IKEA will develop an anchored retail destination and INGKA’s 45th ‘meeting place’ globally at Noida. “Delhi-NCR is one among the foremost important markets in India and that we are happy to announce the primary store here,” IKEA India CEO Peter Betzel said during a statement.
Noida Authority CEO Ritu Maheshwari said the IKEA centre will usher in investments to the tune of Rs 5,500 crore and generate employment opportunities for quite 2,000 people. “The company will complete the whole project within a period of seven years,” said Maheshwari. IKEA store-anchored ‘meeting places’ are mixed-use destinations that bring many of us together for multiple reasons. IKEA has shopping centres anchored by its stores in Europe, Russia and China.