Uttar Pradesh government has allotted 12.3 acres in Noida city to IKEA for what will be the Swedish furniture player’s first ‘meeting place’ venture in India – a shopping, entertainment and business centre revolving around the flagship IKEA store. The plot in Noida Sector 51 was allotted by the Noida Authority to INGKA Centres India Pvt Ltd, which is a subsidiary of the INGKA group that owns most IKEA stores. The company began negotiations with the Noida Authority in October 2019 over terms of payment for the plot and the deal was finalised after it paid Rs 850 cr. Unveiling of IKEA mall will be a big business for the signage companies which engage in in-store branding and graphic projects.
