Puravankara Leases Major Retail Space To IKEA At Zentech Park

Purva Zentech Park is a mixed-use commercial development offering around 960,000 square feet of leasable and saleable area. Typical floor plates measure approximately 50,000 square feet, with modular units of 4,500 to 5,000 square feet available for lease or purchase. Located within a five-minute walk of both Konankunte Metro Station and Forum Mall, the IGBC Gold-certified project is designed to support large-format tenants as well as mid-sized occupiers. The development is under construction and scheduled for completion by early 2026.

IKEA will occupy the first and second floors, both designated for retail use. The space is expected to be handed over in Q1 2026, with operations to commence thereafter. Colliers’ office services team acted as the advisor for the transaction.

Rajat Rastogi, CEO – West and Commercial Assets at Puravankara Limited, said, “We are excited to onboard IKEA at Purva Zentech Park. Their decision to take more than 120,000 square feet of retail space across two floors strongly validates the project’s location, smart design, and adaptable layout. With Bengaluru’s leasing activity continuing to grow, particularly in the southern corridor, we are confident the development will evolve into a vibrant hub for business and lifestyle. IKEA’s presence marks a significant beginning and will help shape the project’s appeal and tenant mix.”

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. Projects such as Purva Zentech Park and Purva Aerocity in Bengaluru are expected to generate a surplus of Rs 18.7 billion, presenting a major value-creation opportunity for the company. This latest development strengthens Puravankara’s commercial real-estate portfolio and deepens its presence in South Bengaluru’s high-growth corridor