1) The allotment, which has been made in Sector 51, was transferred by the Noida Authority that received ₹850 crore from IKEA Store for the commercial land.
2) The transfer was made during a programme held here within the presence of top Noida Authority and IKEA officials, while Uttar Pradesh Chief Minister Yogi Adityanath and UP Cabinet Minister Satish Mahana joined the event virtually from Lucknow.
3) the corporate is predicted to take a position ₹5,000 crore in Noida in seven years, Noida Authority CEO Ritu Maheshwari said that officials estimate job creation for two ,000 persons thanks to the project.
4) “In dignified presence of CM Yogi Adityanath and Minister Satish Mahana, the Noida Authority handed over land for commercial development to IKEA.
5) “The Authority received ₹850 crore against the land and IKEA shall invest around 5,000 crore within the project in coming seven years and generate employment for several ,” Maheshwari tweeted.
6) IKEA India CEO Peter Betzel, CFO Preet Dhupar and UP Chief Secretary R K Tiwari, among others, also joined the programme, consistent with the Noida Authority.
7) Ingka Centres, which has 45 Ikea store-anchored malls across Europe, Russia and China and plans to enter the us in 2021, said it planned to take a position nearly ₹55 billion ($759 million) within the Noida project.
8) it’ll announce more detailed plans for the project within the near future, it said in an emailed statement.
9) Ikea has opened its first store in India in 2018 in Hyderabad followed by the one in Mumbai in 2020.
10) Ingka Centres, owned by Ingka Group, which also owns most Ikea stores worldwide, plans to enter around 45 large cities across its existing markets and therefore the us within the coming years.