Ingka Centres to invest $670m in new retail complex in India

It is expected to attract over 25 million visitors.

Ingka Centres, part of the Ingka Group which also includes IKEA Retail, has announced the development of Lykli Noida, its second major project in India. 

The new complex represents an investment of $670m (INR 5500 crores/€607m) and is expected to create over 9,000 jobs in Uttar Pradesh. Scheduled to open in a few years, Lykli Noida will feature a hotel, marking a first for Ingka Centres globally, and is projected to attract 25 million visitors annually.

The 47,833 sq. m complex will be anchored by an IKEA store and is one of the largest retail projects in the Delhi NCR. 

Located 15 kilometers east of Delhi at a key metro junction, Lykli Noida will offer a mix of retail, dining, hospitality, co-working spaces, and entertainment.

“The unveiling of Lykli in Noida is a landmark in our journey to create meeting places that resonate with local communities while embracing exceptional standards of innovation and sustainability,” said Sebastian Hylving, Global Expansion and Development Director at Ingka Centres.

“We envision Lykli as a vibrant hub that will meet the needs of Noida’s growing population where people can shop, eat, sleep, live, and play and set a new benchmark for future urban developments in India,” he added.

Lykli Noida will implement green building practices, aiming for LEED Platinum and WELL Gold certifications. Features will include energy-efficient systems, water recycling, zero waste to landfill, direct metro access, 4,500 parking spaces, and 70 EV charging stations.