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Our Bureau

New Delhi , Feb. 3

THE B.K. Modi Group company McorpGlobal on Wednesday said it would foray into the retail real-estate sector with planned investments of about Rs 300 crore over the next three years.

"Mall, or the family entertainment sector, is one of the areas the group is looking at seriously, and we will be making significant investments in the segment in the coming years," Mr Mahesh Prasad, Chairman of Bougainvillea Multiplex & Entertainment Centre (group company taking care of the real estate foray), said at a news conference here.

He said the company had received a favourable response to the Rs 100-crore 1.5-lakh-sq-ft Noida Entertainment Centre (NEC). The centre is expected to be operational by June.

"With PVR Cinemas and Haldiram's already signing on, and leading brands such as Titan, Archies and Fab India booking their space here, NEC already has a following among serious brand owners," Mr Prasad said.

It also plans to open malls in Mumbai, Chandigarh and Ludhiana in the coming years.

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