Chandigarh: DLF, a leading real estate player in the country, plans to invest Rs 1,250 crore for the development of its multiplex business. The company has planned to add minimum 500 screens in the next four to five years across the country.
DLF’s entertainment arm DT Cinemas will set up a megaplex, which will have 12 screens with a total capacity of 2,500, as part of their upcoming project, Mall of India, at Gurgaon.
Expected to be one of the country’s biggest malls, it will cover an area of 40 lakh sq ft.
DT Cinemas announced the opening of their multiplex at DLF Infocity, IT Park, Chandigarh. Infocity covers an area of 1,90,000 sq ft and most of the space has been leased out. The mall will start operating within the next 10-12 days.
Kajal Aijaz, CEO, DT Cinemas, said that with the multiplex offering state-of-the-art facilities like Christie cinema projection system, excellent acoustics, wall-to-wall carpeting, extra legroom with comfortable slideback seating and push back armrests for the audience, they were eyeing about 66 per cent occupancy at the multiplex in the first year.
With DLF planning to set up another 120 malls in different parts of the country, DT Cinemas would be the chief attraction in most of these malls.
Apart from Ludhiana and Jalandhar, where multiplexes would be opened in a couple of years, the company is also opening multiplexes at Savitri-GK2, Shalimar Bagh, Vasant Kunj and Saket in Delhi and Star Mall, Gurgaon, this year, Aijaz said.
DT Cinemas will also set up multiplexes in Hyderabad, Chennai, Kochi, Bangalore, Mumbai, Pune, Ahmedabad, Goa and Kolkata.
TagsAffordable Housing Ahmedabad Bangalore Bank Of India Chennai Commercial Projects Commercial Real Estate Credai delhi Developers DLF Gurgaon Home Loans Housing Projects Hyderabad India Indian real estate Infrastructure Investment Investors Jones Lang Lasalle Kolkata Managing Director Market Mumbai Ncr New Delhi noida Private Equity Property Pune RBI Real Estate Real Estate Developer Real Estate Developers Real Estate Investment Real Estate Market Real Estate Sector Realty Market Reserve Bank Of India Residential Project Residential Projects Slowdown Special Economic Zone Unitech