Leading developer of Southern India, M/S Prestige Estate Projects of Bangalore signed an Expression of Intent (EOI) with PVR Limited for setting up multiplexes in the upcoming malls in Mangalore.
Prestige are credited with transforming the skyline of Bangalore city.
The developer is fast expanding having taken up commercial and residential projects in Hyderabad, Chennai, Cochin, Mangalore, Goa and other cities in southern India and has plans to develop and construct shopping mall cum multiplex centres in these cities.
According to the Letter of Expression, the Company shall be the multiplex operator for all upcoming malls of the Developers such as Whitefield and Shantiniketan in the city, Cochin, Hyderabad and other Southern cities.
This is the first of its kind Joint Venture Collaboration (JVC) between a mall and cinema chain. With this strategic alliance, the Company will bring in their expertise to tap the synergies between the Company and Prestige to expand and further cement the Company’s standing in the movie exhibition space.
With this JVC, the company and PVR Limited, aim to consolidate and further strengthen their association with movie buffs by making their presence felt across newer horizons of Southern India.