MUMBAI: Mexican multiplex chain Cinepolis, which recently set shop in India, has inked a tie-up in northern India with Advance India Projects Limited (AIPL), to set up its property in their mall project in Amritsar.
Cinepolis aims to consolidate and strengthen its association with movie aficionados by dotting several landscapes in North India, with AIPL’s Celebration Mall being the first.
"We are extremely pleased to kick start our first strategic partnership in the North with a prominent and quality mall developer like AIPL. With this synergistic alliance, we will introduce a novel and compelling movie going experience for the Amritsar market," said Cinepolis India country head Milan Saini.
"Cinepolis has been a great addition to our mall. We are excited about our partnership with a world class operator who will help differentiate our mall through their proven expertise in cinema exhibition," said AIPL president, corporate strategy and business development Sanjay Sachdeva.
Jones Lang LaSalle Meghraj (JLLM), a professional services firm specializing in real estate will support Cinepolis in managing the fit-outs of the Amritsar project. In addition, JLL Meghraj is also helping Cinepolis to connect with quality shopping mall developers throughout the country.
Speaking on the partnership, JLL Meghraj chairman and country head Anuj Puri said, "Jones Lang LaSalle Meghraj is proud to partner Cinepolis by helping align the brand with quality and visionary developers across India. With a pragmatic business plan, an innovative and refreshing new format and a long term commitment to India, Cinepolis is in a great position to achieve its bold and dynamic 500 screen roll out target by 2016."
Till date, Cinepolis has secured a pipeline of 110 screens across eight cities. Operations are expected to commence by second half of 2009.
