Wave Group, a real estate developer, has announced plans to invest approximately Rs 100 crore in adding 35 cinema screens across seven to eight new properties. This expansion comes after the recent launch of Wave Cinemas, a premium 7-screen multiplex in Gurgaon. With these new screens, Wave Group will operate a total of 10 multiplexes and 42 screens. The move into the cinema industry aligns with the trend of real estate developers diversifying into entertainment and hospitality sectors to create comprehensive lifestyle destinations for customers. It also reflects the growing demand for high-quality cinematic experiences in India.
Real estate developer Wave Group has announced its plans to invest approximately Rs 100 crore in the addition of 35 cinema screens across seven to eight new properties. This expansion follows the recent launch of Wave Cinemas, a premium 7-screen multiplex at M3M Urbana Premium in Gurgaon. With the new screens, Wave Group will operate a total of 10 multiplexes and 42 screens.
Wave Cinemas in Gurgaon offers a total seating capacity of 899 people and boasts the latest cinematic technology, including 4K laser projectors with Dolby Atmos high-definition immersive audio. Rajiv Gupta, Managing Director of Wave Group, emphasized the importance of creating a flawless cinema experience, addressing aspects like technology, food, seating, ambience, hygiene, and accessibility.
Wave Group, established in 1963, has a diversified business portfolio that spans various sectors, including commercial and residential real estate, malls and multiplexes, residential township and land development, infrastructure, sugar manufacturing, beverages, power, education, entertainment, sports, and agriculture.
This strategic move into the cinema industry aligns with the broader trend of real estate developers diversifying their investments and expanding into entertainment and hospitality sectors to create comprehensive lifestyle destinations for customers. Wave Group's commitment to enhancing the cinematic experience reflects the evolving preferences of Indian audiences who seek more than just movies; they desire immersive and comfortable entertainment spaces.
Wave Group's investment in cinema screens underscores the potential for growth in the entertainment sector in India, driven by increasing consumer demand for high-quality cinematic experiences. Additionally, this expansion is expected to contribute to the overall development and commercial success of the properties where the cinema screens will be located.
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