IKEA Retail on November 22 announced plans for a new IKEA Mall in Gurgaon. The investment for the project is nearly Rs 3,500 crores. The construction will start by the year 2022, and the new mall is expected to generate over 2,500 jobs and growth of organised retail in India, the company told in a statement.

The mall will set the standard for the next generation of sustainable mixed-use purposes, as a meetup place for relaxation, entertainment and retail in one of the world’s fastest-growing markets, the company added. The new building will welcome over 20 million people who can shop, work, eat, exercise, learn and meet people. It is being developed as a local community hub with spaces for festivals and exhibitions for the whole year.

Peter Betzel, CEO and CSO, IKEA India said, “We are happy to declare our IKEA store in Gurugram. India is an amazing country for IKEA and we have an aim to reach several people with our different approaches. Delhi NCR is one of the biggest and most important markets in India and we can’t wait to meet and inspire the people with our beautiful, affordable, well designed and sustainable home furnishing products and solutions.”