Phoenix Mills inks deal with Adlabs Cinemas for country's largest multiplex at its Kurla Market City Complex
Posted on: July 16, 2008
The consortium led by Phoenix Mills has inked a historic deal with Adlabs Cinemas for the country's largest multiplex cinema at its Kurla project – Phoenix Market City. The 140,000 sq. ft. multiplex will have 15 screens and over 4000 plus seats.
The deal was hotly contested by some of the leading domestic and international multiplex operation chains, an indicator of the iconic status the mall enjoys.
Apart from regular screens which will show the latest releases, the Adlabs "megaplex" will also screen popular sports events, live concerts, and house two luxury screens with adjoining Ebony Lounges. In an endeavour to offer audiences a wide variety of viewing experiences, the lounge will have live band performances round the year, adding novelty and uniqueness to the cinema experience in India.
The interiors of the multiplex are being designed by top international designers and architects. With 170 screens in India, Adlabs Cinemas is by far the largest cinema chain in the country. It also has a 251 screen cinema chain in the US as well as a 51 screen cinema chain in Malaysia. The company is known not only for the technologically advanced cinema experiences it offers through India's first IMAX and 6D theatres, but also a multiple award-winning customer orientation.
The Adlabs multiplex will come up at the Phoenix Market City complex at Kurla LBS Marg in Mumbai. The mixed-use complex, touted as the ‘Monster Mall', is spread over 4.05 million sq. ft. and will be India's largest commercial complex. Not just India, the mega project will also exceed any retail most of such complexes in the world. The Kurla Market City will be larger than UK's largest such complex – Bluewater in Kent, which spreads over 1.6 million sq. ft.
The Rs. 1100 crore Phoenix Market City will house the city's largest hypermarket, departmental stores, food courts, entertainment zones and over 400 branded stores. The complex will also boast of a one-acre artificial lake and parking for 3000 cars.
Says Tony Ward, Chief Operating Officer, Phoenix Market City Management, "The Kurla project is planned to become a complete consumer destination and a must-see for Mumbai populace and tourists. This is going to be a world-class destination with retail spaces, offices, hotel and multiplex. It will also include a uniquely designed leisure area for people, something which will be entirely new for the city. Because of its central location, the complex will be able to cater to Mumbai's western, central and the population from the downtown."
According to Tushar Dhingra – COO, Adlabs Cinemas, "Adlabs'' commitment has always been to set precedents for new entertainment concepts in the country. We believe that the new Adlabs megaplex will set world benchmarks in terms of design and ambience, technology and overall consumer viewing experience."
Market City Management is also developing large Market City complexes ranging from 2 to 4 million sq. ft. in 20 other cities in India, that includes metros like Bangalore, Chennai, Pune, Kolkata, and tier-2 and tier-3 cities like Indore, Raipur & Udaipur.
About Phoenix Mills Limited
A pioneer in retail-led mixed format real estate developments at city centric prime locations in India, The Phoenix Mills Limited is set to take on the challenge of redefining lifestyle across tier I, II & III Indian cities. The company initiated this concept with its property at High Street Phoenix in Mumbai, and is now rapidly extending its presence in key metros and cities across the country through its Market City & Treasure brands. The group has bought an equity stake in Indore-based EWDPL, formed a JV with UPAL to form Big Apple which has plans in North India; and is actively looking for more tie-ups with prominent regional players who are mall developers thereby increasing the retail footprint across the country. Be it mega retail malls, entertainment complexes, commercial space or hospitality units; the Group is determined to make its presence felt not only in such real estate developments but also in superior mall management & operations mandates.
Phoenix Mills Ltd today, has managed to forge an unbeatable equation of nascent markets, uncover virgin potential, and acquire dominant positioning, conducive environments & complementary infrastructure to deliver the consumption of these markets. Currently it has over 55 million sq. ft. under construction with EWDPL & Big Apple. For more information on the Company, please log on to www.highstreetphoenix.com
Adlabs, a Reliance Group Company, is India's fastest growing filmed entertainment company with a dominant position in film processing and digital intermediate services, television content, domestic and international film distribution and film exhibition. It operates India's largest cinema chain and recently acquired 251 screens in the US and 51 screens in Malaysia.
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