In a major investment deal, Ingka Centers, a part of Ingka Group that also owns IKEA Retail will develop a new IKEA anchored mixed-use development in the cyber city Gurugram, providing a major boost to the employment in the surrounding area, according to the company. A report by SURFACES REPORTER (SR).
Mixed-Use Development
Ingka Centers is planning to develop the Mixed-use development with a GBA of around 130,000 sq m which will be a sustainable mixed-use destination aiming to be a lively gathering place for leisure, entertainment and retail in one of world's fastest growing markets, the company said.
According to the plans, the construction for the new development will start early this year and is expected to generate more than 2500 jobs. The center is also aimed to contribute to the further growth of organized retail in the country.
New Branding
The center will be developed under the new LIVAT brand. It’s a Swedish word which means 'A Lively Happening' reflecting the vision of the development. It’s the 52nd neeting place by Ingka Centers and will offer a mix of hospitality, food and beverage, ‘edutainment’ learning spaces, alongside a wide retail offer anchored by an IKEA store. Acting as the local community place is expected to welcome more than 20 million people annually who will come to shop, work, eat, exercise, learn and socialise.
With a connectivity to the public transport system Ingka Centres’ meeting place has been awarded LEED Gold precertification, with 100 percent water recycling, sustainable construction techniques, renewable energy sourcing and charge points for electric vehicles. Spaces designed to meet the needs of busy people will encourage relaxation, good mental health and well-being.
“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 and the planet. We know that when it comes to retail and leisure, change is the only constant. This is why our first Livat meeting place in India will be adaptable, with multiple offerings to match consumer lifestyles long into the future. We want to create destinations that make it easier for people to live even happier, healthier and more sustainable lifestyles – this will be our goal at Gurugram,” said Cindy Andersen, Ingka Centres Managing Director.
Peter Betzel, CEO and CSO, IKEA India said, “We are happy to announce our IKEA store in Gurugram together with Ingka Centres. India is an exciting country for IKEA, and we have a long-term commitment to reach many people with our omnichannel approach. Delhi NCR will be one of our biggest and most important markets in India and we can’t wait to meet and inspire the many people in that region with our beautiful, affordable, well designed and sustainable home furnishing products and solutions.”
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