Residential and commercial real-estate developer Puravankara Ltd has entered into a lease agreement with IKEA India to occupy over 1.2 lakh sq ft of retail space at its upcoming mixed-use project, Purva Zentech Park, located on Kanakapura Road, Bengaluru.
Under the lease, IKEA will occupy the first and second floors of the development, signalling one of the largest large-format retail commitments in the south Bengaluru corridor. The handover is expected in Q1 2026, with store operations to begin soon after.
Purva Zentech Park is a 9.6 lakh sq ft (approx) mixed-use commercial and retail complex designed to offer large-format floor plates of around 50,000 sq ft and modular retail units of 4,500-5,000 sq ft. The IGBC Gold-certified project is well-positioned near Konanakunte Metro Station and Forum Mall, making it a strategic location for national and international retail brands.
In a statement, Puravankara’s CEO – West & Commercial Assets said that IKEA’s decision “is a strong endorsement of the project’s strategic location, smart design and adaptable retail layout”. With Bengaluru’s southern corridor showing leasing momentum, the project is poised to leverage this growth trend.
From Puravankara’s perspective, securing a tenant like IKEA strengthens the company’s commercial leasing credentials and enhances the credibility of the project. The company currently has a commercial pipeline of approximately 3.2 million sq ft, with nearly 2 million sq ft expected to receive occupancy certificates in the current financial year.
For Bengaluru’s real-estate and retail ecosystem, this deal underscores the rising interest in large-format retail spaces and mixed-use developments in growth corridors outside the traditional city-centre zones. Investors and developers view such anchor leases as markers of project viability and future footfall potential.
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