'We are aiming for 400 screens by 2017 in tier 1, 2 cities'.

Mexican multiplex chain Cinépolis says lack of quality real estate space is coming in the way of its expansion plans. The company, which has set a target of 400 screens by 2017, says it will have to take the inorganic route for it to grow at the pace it had planned.

The company had previously acquired Essel-owned Fun Cinemas, making it the third largest multiplex operator in the country. The company has earmarked ₹500 crore for expansions and acquisitions. Cinepolis, which started operations in 2009 from Amritsar, has 215 operational screens.

In an interview with BusinessLine, Cinépolis India MD Javier Sotomayor said the company considers its investment in India 'valuable'. In India, the company has selected about 60 cities to expand its footprint.

HBL