MARG enters into 18 year lease agreement with PVR Cinemas

MUMBAI: Infrastructure and real estate firm MARG based in Chennai, has entered into a 18 year lease agreement with multiplex chain PVR Cinemas to set up their multiplex in its shopping mall, Marg Junction.

MARG has also tied up with Shopper’s Stop to set up their new stores in the shopping mall. The location of Marg Junction is very strategic since it is connected with GST Road and East Coast Road.

MARG has invested about Rs 700 crores for the MARG Junction. The multiplex at MARG will be PVR Cinemas’ second multiplex in the city. The shopping mall is spread over 1.83 million square feet and would focus more on saving energy.

The mall is expected to be operational by April ,2012. Besides a shopping mall, Marg Junction would also have a four star hotel by Shangri-La and a nine floor service apartment.