Global home furnishing brand IKEA has secured over 37,250 square feet of prime retail space at Phoenix Marketcity Mall in Viman Nagar, Pune, marking another strategic milestone in its Indian expansion journey with a long-term lease agreement valued at ₹38.12 lakh monthly rent.

Phoenix Mills announced the acquisition of Canada Pension Plan Investment Board's 49% stake in Island Star Mall Developers for ₹5,449 crore, making it a wholly owned subsidiary.

Sparkle Two Mall Developers, a fully owned subsidiary of The Phoenix Mills, paid Rs 429 crore for an 11-acre plot in Majiwada, Thane.

In the current fiscal year 2023-24, The Phoenix Mills plans to invest over Rs 2,000 crore to support the ongoing portfolio expansion in key locations such as Pune, Bengaluru, Kolkata, and Surat.

How Will The Acquisition of a 7 Acre Plus Land Parcel in Surat by The Phoenix Mills Impact The Surat Real Estate Market?