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Deepak Goel

New Delhi , Sept. 25

THE Rs 150-crore MBD group, a Delhi-based publishing house, plans to enter real estate with the construction and management of a Rs 100-crore project in Ludhiana-MBD Neopolis.

The project would have a shopping mall, a multiplex, and a five-star deluxe hotel, all in one building.

The company had earlier entered the hospitality industry with a joint project with Radisson hotel in Delhi NCR.

The latest project would be spread over four acres with 800,000 feet of developed space.

The first three floors of the building would house the retail outlets, the next would house the five-screen multiplex, and the hotel would be from the fifth till the ninth floor.

Ms Sonica Malhotra, Executive Director, said: "Out of the total developed space, 360,000 feet would be for retail and entertainment, 150,000 feet for the hotel, and the rest for parking."

The hotel would have a total of 100 rooms, with the average room rate being Rs 4,250, with a separate entrance. It is being planned as a tie-up with the Radisson hotel chain.

The retail stores that have booked space in the mall include Pizza Hut, KFC, Food Bazaar, and Pantaloon, among others. The project is set to be operational by next month.

Ms Malhotra said that the group would be constructing another mall in Jalandhar at an investment of Rs 50-80 crore. The total investment of Rs 150-180 crore in the group's foray would largely be arranged through debt, she added.

The group is planning construction of malls in Patiala and Amritsar at a later date.

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