Major Lykli Noida: Ingka Centres’ ₹5,500 Crore Investment

Ingka Centres Expands with Major Investment in Lykli Noida

Ingka Centres’ Strategic Investment

Ingka Centres, a part of the Ingka Group which also encompasses IKEA Retail and Ingka Investments, has revealed plans to invest around ₹5,500 crore to create its second “meeting place” in India, branded as Lykli, located in Noida.

A New Era of Retail Destinations

This development aims to blend retail, dining, hospitality, co-working spaces, entertainment, and cultural experiences, catering to the needs of modern urban residents. The Noida project is expected to attract over 25 million visitors and generate more than 9,000 jobs, contributing positively to the local economy of Uttar Pradesh.

Lykli Noida: A Landmark Project

The Lykli Noida meeting place will be anchored by an IKEA store and will cover an area of 47,833 square meters, making it one of the largest retail projects in the Delhi NCR region. This project signifies a new era of retail destinations designed to foster community engagement in a vibrant and sustainable environment.

Event Highlights and Vision

The unveiling event was attended by notable figures including Uttar Pradesh Chief Minister Yogi Adityanath, Nand Gopal Gupta, the state’s Minister for Industrial Development, and Jan Thesleff, the Swedish ambassador. The project aligns with the vision of transforming Uttar Pradesh into a hub of modern urban living, as emphasized by Chief Minister Adityanath.

Focus on Sustainability

Ingka Centres’ Global Expansion and Development Director, Sebastian Hylving, highlighted the project’s commitment to sustainability, incorporating green building practices and eco-friendly materials. This initiative is part of Ingka Centres’ broader strategy to create innovative and sustainable meeting places that resonate with local communities.

IKEA India’s Long-term Commitment

Susanne Pulverer, CEO and Chief Sustainability Officer of IKEA India, expressed the company’s long-term commitment to the Delhi NCR region, aiming to positively impact the local economy and enhance the home furnishing market. IKEA India, part of the Ingka Group, has been expanding its presence since opening its first retail store in Hyderabad in 2018. The company runs large-format stores in Hyderabad, Navi Mumbai, and Bengaluru, has a city store in Mumbai, and provides online services across various regions.

Setting a Benchmark for Urban Developments

Overall, the Lykli Noida project represents a significant milestone in Ingka Centres’ journey to create community-focused spaces in India, setting a new benchmark for future urban developments.

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