On Monday, Chief Minister of Uttar Pradesh, Yogi Adityanath, announced that IKEA Company would build a giant shopping mall in Noida. The ceremony was performed through a web conference from Lucknow, said the reports. Everything concerning the reports is provided here.
According to the sources, construction of the store is likely to begin in Sector 51, and it is considered one of the major investments in Uttar Pradesh. As stated by an official, it indicates increasing confidence not only among the domestic but also among the overseas investors.
IKEA Retail and Ingka Investments under the Ingka Centres group has pledged to invest Rs 5,500 crore for its second project that is under the Lykli brand for its construction.
The project states that, according to more information on the location, it is located right behind the Sector 51 and Sector 52 metro stations.
It is believed that the place will be able to provide premium blends of shopping to its customers that include foods & groceries, work zones, fun, and creatives. The work on the project is estimated, however, to be complete by 2028.
Further, as of the September 9 announcement, the company has noted they expect the project to attract over 25 million visitors and, at the same time, create over 9,000 jobs. It will span over 47,833 sq m of land area, which will possibly make it one of the largest retail ventures in the Delhi-NCR zone.
