Puravankara leases retail space to IKEA at Purva Zentech Park in Bengaluru

The retailer will open its second Bengaluru store at Puravankara's upcoming Kanakapura Road project, set to be handed over in early 2026

IKEA India will lease 1.2 lakh sq ft of retail space at Purva Zentech Park, located on Kanakapura Road in Bengaluru, city-based developer Puravankara said Monday.

 

“We are excited to onboard IKEA at Purva Zentech Park. Their decision to occupy retail space of more than 1.2 lakh square feet of leasable area across two floors is a strong endorsement of the project’s strategic location, smart design and adaptable retail layout,” Rajat Rastogi, CEO–West and commercial assets, Puravankara Limited, said.

 

“With Bengaluru’s leasing activity showing consistent growth, especially in the southern corridor, we are confident the project will become a vibrant hub for both business and lifestyle. IKEA’s presence marks a significant beginning and will play a key role in shaping the project’s appeal and tenant mix,” he added. This will be IKEA’s seventh store in the country and second in Bengaluru. 

Currently under construction, Purva Zentech Park is scheduled for completion by early 2026. IKEA will occupy the first and second floors of the development, which are designated for retail use. The space is expected to be handed over in the first quarter of 2026, with operations scheduled to begin thereafter. 

 

Puravankara currently has a commercial development pipeline of 3.2 million square feet, with nearly 2 million square feet expected to receive occupancy certificates within this financial year.

 

Purva Zentech Park is a mixed-use commercial development offering approximately 9.6 lakh square feet of leasable and saleable area. The project features typical floor plates of around 50,000 square feet, with modular units ranging from 4,500 to 5,000 square feet available for lease or sale.

 

Projects such as Purva Zentech and Purva Aerocity in Bengaluru are projected to generate a surplus of Rs 1,870 crore, representing a significant value-creation opportunity for the company. With this development, Puravankara continues to strengthen its commercial real estate portfolio and expand its presence in south Bengaluru’s high-growth corridor.