The Hindu : New Delhi News : Raining malls in Punjab

Online edition of India's National Newspaper
Wednesday, Aug 09, 2006

New Delhi

New Delhi

Raining malls in Punjab

Aimed at creating family-oriented entertainment centres across North India cities, Delhi-based real estate development group Spirit Global Constructions Private Limited has tied up with Pyramid Saimira Theatre Limited -- the country's leading theatre chain company -- for creating malls and multiplexes in Punjab.

Announcing the tie-up, Spirit Global Constructions Private Limited Managing Director J.K. Malhan said his group intends to create footprints outside the city with a massive foray into the entertainment business and hospitality.

"With a major investment of Rs.2, 000 crores, we would be completing 60 malls and multiplexes within the next 36 months. We will raise 60 per cent of the investment through Foreign Direct Investment," he added.

The underlying objective to open state-of-the-art malls in Punjab equipped with a gigantic screen and smaller multiplexes, besides multi-national corporation-run big stores are to provide theme-based entertainment.

Pyramid Saimira Theatre Limited Managing Director P.S. Saminathan said: "We want to keep the whole family happy. In Chennai, we keep changing the colours of malls and come out with new entertainment offers, while in Karnataka we have given a fillip to literature-based films. Similarly, in Punjab we will encourage Punjabi films." -- Madhur Tankha

-- Madhur Tankha

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