Plaza forms strategic alliance with PVR Cinemas in Pune

Plaza Centers India, a developer of shopping and entertainment centers, unveiled the scale model of its first mall, Koregaon Park Plaza in Pune. Plaza Centers formed a strategic alliance with PVR Cinemas as its multiplex partners, marking PVR’s foray in Pune.

The European style shopping mall spread across an area of around 4,00,000 square feet will have a total of 14 lifts and staircases to allow easy accessibility of levels to customers. With an investment close to Rs 500 crore, the mall will also have three levels of underground parking, which will be able to accommodate 1,100 cars and 950 two-wheelers.

“This is our first venture launch in Pune and we plan to follow it up with more such malls in the country in the near future. Koregaon Park Plaza will be functional by 2011,” said Ran Shtarkman, president and CEO, Plaza Centers.

The mall in Pune is slated to have around fourteen food kiosks and options in fine dining along with a seating capacity of more than 500 people at the food court plus a bowling alley and an electronic games facility.

“We will offer 6 screens and 1500 plus seats with an unparalleled environment, great sound and picture quality to cine goers,” said Pramod Kumar Arora, Group President, PVR Cinemas.

PVR Cinemas, operates a film distribution and production business through PVR Pictures, a subsidiary of the company which consists of 26 cinemas with a total of 108 screens spread across the country while Plaza Centers Group of Companies, an indirect subsidiary of Elbit Imaging Ltd, an Israeli company, involved in the development, construction and leasing of shopping and entertainment centers.