Cinepolis India, a wholly owned subsidiary of Mexico-based mutliplex chain Cinépolis, has signed a deal with Magarpatta mall, Pune to open 15-screen multiplex.
Talking exclusively to IndiaRetailing, Deepak Marda, JMD, Cinepolis says, “We are going to open 15-screen multiplex in the Magarpatta mall, Pune. The rent is based on a revenue share component along with a minimum guarantee. It is a self-adjusting rental model that would work under different scenarios.” The multiplex will be positioned as one of the anchors of the mall.
“Our general total investment in opening such multiplex goes approximately Rs.2.5-3 crore per auditorium and some of the investment is done by the developer,” reveals Marda. The seating capacity in this multiplex will be more than 2,500.
“We have signed more than 180 screens across various cities in India and are targeting to open 500 screens in the next five to six years,” shares Marda.
Magarpatta is set to start trading in the first quarter of 2011 in which the other key tenants include Star Bazaar (90,000 sq.ft), Westside (30,000 sq.ft) and Landmark (18,000 sq.ft).
— Diwakar Kumar
