Ingka Centres to Invest ₹5,500 Crore in Noida for Lykli Mixed-Use Development

Ingka Centres, the real estate arm of IKEA, has announced a substantial investment of €607 million (₹5,500 crore) for the development of Lykli Noida, its second major mixed-use project in the Delhi NCR region. Scheduled for completion by 2028, the project is set to generate approximately 9,000 jobs.

Lykli Noida will feature Ingka Centres' innovative 'Meeting Place' concept, which integrates retail with community-focused spaces. The development will be anchored by an IKEA store and will offer a diverse range of amenities, including workspaces, hospitality zones with hotels and dining options, ‘Edutainment’ areas, and venues for cultural and social events.

This project is part of Ingka Centres' strategy to expand its network of multi-purpose spaces across India, blending offline and online experiences. Lykli Noida aims to enhance the retail landscape and provide a comprehensive, community-oriented environment.

The inaugural Lykli project in Gurugram, also anchored by an IKEA store, is set to open in 2025. With successful launches of IKEA stores in Hyderabad and Navi Mumbai, Ingka Centres continues to invest in India’s growing retail and urban development sectors.

News by Rahul Yelligetti