IKEA's retail operator to invest 500 mn euros to open city centre in Noida

In India, IKEA has opened smaller stores within city limits as it aims to be closer to the customer

Ingka Centres, part of IKEA’S retail operator Ingka Group, on Tuesday said it will invest another €500 million in Noida as it plans to develop its next meeting place.

“The planned investment so far is around €500 million (in the Noida meeting place project). It’s a large project that will be finalised. The decision will hopefully be taken within six months,” Jan Kristensson, global expansion and development director at Ingka Centres, told Business Standard in an interview.

On Tuesday, the company marked the start of the main construction work on its IKEA anchored meeting place in Gurugram. The investment in the Gurugram