Today Homes to set up malls in Punjab

Real estate developer Today Homes and Infrastructure Private Ltd will invest about Rs 1,000 crore (Rs 10 billion) to set up shopping malls and multiplexes in the state.

"We will pump in more than Rs 1,000 crore in setting up two malls and multiplexes at Amritsar and Mohali, work on which should be completed by 2008," Today Homes and Infrastructure Managing Director G K Gambhir told reporters in Ludhiana.

The first project at Mohali would entail building a shopping mall, multiplex and a five star hotel over eight acres and about Rs 900 crore (Rs 9 billion) would be invested in this project, he added.

Similarly, for the second project the company would invest Rs 150 crore (Rs 1.5 billion) to set up a shopping mall in Amritsar. "We are yet to acquire land in Amritsar for the purpose," he said.

The company has hired architectural firm HOK for the projects. Apart from these projects, Today Homes has partnered with Ludhiana Improvement Trust to set up one of the largest shopping centres in the countryp;in Ludhiana known as Ludhiana City Centre with a total investment of over Rs 2,000 crore (Rs 20 billion).

Spread over 25 acres of land, the Ludhiana City Centre would house 12 multiplexes, a five-star hotel, golf course, food court, art gallery and convention centre.

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