Ikea arm to set up first shopping mall in India for Rs 5,500 cr

48,000 sq m land acquired in Noida; experts say proposed mall will take 2-3 years to build

Ingka Centres, part of the Ingka group, which also owns most Ikea stores worldwide, on Friday said that it was setting up its first shopping centre in India for an investment of Rs 5,500 crore. This will mark a significant step-up for the group's big-box retail plans in the country. 

The group already has two flagship Ikea stores in India, one in Hyderabad, the other in Navi Mumbai, measuring over 400,000 sq ft each. 

The proposed mall, to be launched in Noida, Uttar Pradesh, will add to Ingka Centres' growing list of properties across the world. The company has 45