Cinepolis India, part of Mexico-based entertainment giant Cinépolis, has entered in to a strategic partnership with real estate development company Advance India Projects Ltd (AIPL) for its north India operation. As part of the plan, Cinepolis India will open its multiplex at Celebration Mall, one of AIPL construction to be operational in Amritsar, according to a company press release.
Speaking on the development, Milan Saini, country head, Cinepolis India, said, “We are extremely pleased to kick start our first strategic partnership in the north with a prominent and quality mall developer like AIPL. With this synergistic alliance, we will introduce a novel and compelling movie going experience for the Amritsar market.”
AIPL has been in the business of real estate development for over 18 years. It has entered into a joint venture with CapitaLand Retail in 2007 and jointly planned eight shopping malls in different cities across Punjab, Maharashtra and Rajasthan totaling around 5.86 square feet of retail area. AIPL also has a JV with Kolkata-based Ambuja Realty for developing and marketing two integrated townships in Amritsar and Khanna in Punjab, the release added.
— IndiaRetailing Bureau