IKEA to Lease 1.2 Lakh Sq Ft at Puravankara’s Purva Zentech Park in Bengaluru

Swedish home furnishings major IKEA has secured over 1.2 lakh sq ft of retail space at Puravankara’s upcoming Purva Zentech Park, marking one of the most significant retail leasing transactions in South Bengaluru in recent years. The mixed-use commercial development, located strategically along Kanakapura Road near Konanakunte Metro Station, is fast emerging as a preferred location for global retailers and large-format brands.

Puravankara confirmed that IKEA will occupy the first and second floors of the 9.6-lakh-sq-ft IGBC Gold-certified project. The handover of the leased space is scheduled for Q1 2026, with commercial operations expected to commence shortly thereafter. While the company did not disclose rental values or the duration of the agreement, industry analysts note that such large-format deals typically indicate long-term strategic commitments.

Designed to accommodate both large retailers and mid-sized occupiers, Purva Zentech Park features expansive floor plates of nearly 50,000 sq ft and modular units ranging between 4,500 and 5,000 sq ft. Its location near a major metro corridor, established residential neighbourhoods, and prominent retail hubs including Forum Mall further enhances its appeal for brands eyeing sustained footfall and market visibility.

Real estate consultancy Colliers advised the transaction, reflecting the rising institutional interest in Bengaluru’s southern commercial belt. According to Rajat Rastogi, CEO – West and Commercial Assets at Puravankara, IKEA’s decision reinforces the credibility of the development. He noted that the retailer’s commitment to more than 1.2 lakh sq ft is a strong endorsement of the project’s strategic location, adaptable design and future-ready retail layout.

Puravankara is currently developing nearly 3.2 million sq ft of commercial assets, of which close to 2 million sq ft is expected to receive occupancy certificates within this financial year. Projects such as Purva Zentech Park and Purva Aerocity are projected to generate a surplus of ₹1,870 crore, strengthening the developer’s commercial presence in the fast-growing South Bengaluru corridor.

IKEA’s entry into Purva Zentech Park is expected to significantly boost the micro-market, attract more global and domestic brands, and accelerate the region’s transformation into a prominent retail and commercial hub.