MUMBAI: Plaza Centers India, a developer of shopping and entertainment centers, is planning to invest Rs 30 billion (Rs 3000 crore) to set up six malls across India in cities like Chennai, Bangalore, Kochi and Pune.
These malls will house a multiplex for which Plaza has formed an alliance with PVR Cinemas. The first first mall at Koregaon Park Plaza in Pune will also mark PVR’s foray into Pune.
The mall will be designed on an area of around 400,000 square feet with an infrastructure that allows maximum light and air circulation. It will have a total of 14 lifts and staircases to allow easy accessibility of levels to customers.
Plaza Centers president and CEO Ran Shtarkman said, "We are proud of our first venture launch in Pune and we plan to follow it up with six more such state-of-the-art malls in the country in the near future. Koregaon Park Plaza with an investment of almost Rs 5 billion (Rs 500 crore) will be a completely functional mall catering to local flavour with international standards by 2011. The Pune population is dynamic, young, diverse and cosmopolitan by nature hence providing them with superior quality service along with a mix of fashionistic brands is our commitment."
"The USP of the mall besides being in the heart of the city will be the entertainment zone, where we have already partnered with PVR Cinemas besides housing all leading brands under one roof spoiling the customer with choices galore. PVR is a leading multiplex brand in its own and through this alliance we will receive maximum footfalls," he added.
PVR Cinemas group president Pramod Kumar Arora said, "We are extremely delighted by this alliance. Our choice of association with Plaza Centers has been based on the state-of-art facilities and infrastructure of the mall. What better way to open our doors to the Pune audience than with a unique experience for cine lovers. We will offer six screens and 1500 plus seats with an unparalleled environment, great sound and picture quality to cine goers."