Omaxe unveils Rs 1,300 cr Punjab plan

Company will also launch Rs 1,209 cr 'Omaxe Plaza', a multiplex, in Ludhiana, today

Omaxe Construction Ltd will be investing Rs 1,300 crore in Punjab over two and a half years.

The company will be launching a Rs 1,209 crore project "Omaxe Plaza", a multiplex in Ludhiana, tomorrow.

At the same time, Omaxe is planning another mall of Rs 250 crore that will house a five-star hotel as well, in the vicinity of Ludhiana, in two months.

Besides multiplexes, it is planning to invest in group housing complexes in Ludhiana, Dera Bassi and Baddi (in Himachal). So far the company is running four projects related to multiplexes in Punjab itself.

Commenting on the investments involved mainly in Punjab, Chief Manager, Omaxe Construction Ltd, Rakesh K Goel, said, "We are focused on Punjab, and will invest Rs 1,300 crore approximately. In Ludhiana itself, we will invest Rs 370 crore approximately on two multiplexes. The Omaxe plaza here will have three multiplexes, which can accommodate 1,200 people.Both the malls here will be operational in two and half years. Besides two malls here we will be coming up with a multiplex (Omaxe novelty mall on airport road) in Amritsar as well. It will again have a five-star hotel."

About group housing plans in Baddi, Dera Bassi and Ludhiana, Amitabh Bhattacharya, vice-president (corporate communications), Omaxe Construction Ltd, says , "Since Baddi is emerging as an industrial hub, we are planning to set up a group housing project there as well. With a growing number of multinationals there, the demand for housing complexes is rising like anything. In Baddi, the group housing will consist of 800 flats. In Ludhiana we will be going for two-, three- and four-bed room sets, whereas in Dera Bassi we will go for one-, two- and three-bed room sets. We are becoming active in the hospitality services; so far four- to five-star hotels are in the offing. Whereever we invest in north India we will be tapping tourism potential for accommodating star hotels we are going to invest in. For hotels we are not limited to Punjab only. In Lucknow as well, we will be coming up with a five-star hotel."

A number of top brands"" almost 120"" will be opening up shops here.