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Cinepolis expands to G. Noida; to invest Rs 800 crore

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NEW DELHI: India’s first international and world’s fourth largest movie theatre chain Cinépolis has opened its five-screen multiplex at The Grand Venice Mall in Greater Noida (Delhi NCR). The tally of Cinépolis multiplexes in the city now stands at 29 screens across eight properties in the National Capital Region.

This five-screen Cinépolis property can accommodate up to 851 movie goers, at a time. The theatre will run 22 daily shows, which will comprise a mix of the best of Bollywood, Hollywood and regional content.

Cinépolis is one of the first properties to start operations at The Grand Venice Mall located off the Yamuna Expressway. This, first of its kind mall, is inspired and themed after the picturesque city of Venice, situated 15 minutes from Noida. The Noida and Greater Noida belt is an affluent one, with a huge demand for luxury entertainment.

The seventh organic opening of the year, this brand is steadily adding screens across various cities. With the launch of this latest multiplex in NCR, Cinépolis stands strong at 274 screens across 41 cities in India. Cinépolis has now become the fastest growing multiplex chain across India.

Cinépolis India MD Javier Sotomayor, said, “We have aggressive expansion plans which include investment of up to Rs 800 crore over the next six years. The aim is to become one of the top three players in the Indian exhibition space in the next 3-4 years.”

Cinépolis India director-expansion Ashish Shukla said, “This new cinema will expand our current NCR circuit from 24 to 29 screens. We have 70-plus screens planned to be opened in the Delhi NCR Region in the next couple of years.”

Cinépolis India director–India strategic initiatives Devang Sampat said, “Our theatres are equipped with the best sound and projection systems to provide the most intimate atmosphere for the movie-goers, coupled with RealD 3D technology for best 3D experience."

Mall owner Satinder Singh Bhasin said, “Cinépolis team has a very clear vision of consolidating its presence in India."

In future, the exhibition market would consolidate and only three to four big players would remain in the business, according to Sotomayor, quoted in Mint earlier. Cinepolis would continue to add screen in metro markets as well as tier II and III cities. As to whether it would adopt a different strategy for the price sensitive non-metro markets, Sotomayor replied in the negative.

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