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Star, Era Group in talks for Multiplex Biz
| June 24, 2008 |   (1 votes, average: 4 out of 5) Loading ... |
Star TV and engineering and construction major Era Group are reportedly in talks to enter into the multiplex management business.
Era will see the construction and management of multiplex properties while Star will lend its name, says a PTI report.
Era Group reportedly has major plans of installing 120 screens by next three years. So far, it is running a few screens in Meerut and Agra in Uttar Pradesh.
“We are talking to media group for the business. While the cinemas will be branded as Star, we will invest and run them,” said Era Group chairman H S Bharana to PTI. “About half of the properties will be constructed and owned by us while the rest would belong to other real estate companies.”
Era is also planning to strike long-term deals with major real estate players which are developing malls and multiplexes to run all the screens coming up in their projects.
News Published Under: Real Estate India, Real Estate Developers |
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