The Emaar MGF company will set up a Knowledge Park in Mohali, said CEO William R Rattazi on Monday. The park would be an integrated township involving an investment of Rs 3,000 crore and similar ventures have also been planned for Jalandhar and Ludhiana. The joint cost of these ventures would be Rs 5,000 crore. While the township will keep space for offices, emphasis will also be given to education, healthcare, hospitality as well as retail. "The aim is to create five to seven lakh jobs within three years in Punjab. One part would be given to develop housing to make the area self-sustaining,' Rattazi said. He added that Mohali is one of the best areas to invest in at this time. Around 80 to 85 per cent of the villas and flats have already been booked. The group also plans to build one of the biggest malls in Punjab. In Mohali Hills, Central Plaza would provide a mix of supermarkets, laundries, pharmacies, boutiques and restaurants. The group has around 3,400 acres of land in the region of which around 2,700 acres is in Mohali. The group has also ventured into providing low cost housing. "The aim is to provide housing for the entry level customers. Not everybody can afford high-end houses. We are also targetting the elderly as well as the youth who want houses that require least maintenance,' Rattazi said.