In its first ever Indian investment, the Plaza Centers Group has appointed Pioneer Property Zone (PPZ),- leading experts in developing and managing shopping malls –for their upcoming mall in India – Property Zone will be managing the mall for the group which will include financial management & implementing strategies for growing the asset performance. The upcoming property is at Koregaon Park Plaza Mall in Pune.
The Plaza Centers Group is a leading emerging markets developer of shopping and entertainment centers. The Plaza Centre Group has developed and let out at least 30 shopping and entertainment centres across the globe. It has its presence in countries like Hungary, Poland, the Czech Republic, Greece, Romania, Latvia, Serbia and Bulgaria. They have made their first investment in India.
Speaking on this occasion Ashwin Puri, CEO, Pioneer Property Zone said, “We are extremely happy to work with a global player like Plaza Centers Group. Koregaon Park is a well known and premium destination in Pune and we strongly believe that Koregaon Park Plaza has potential to become amongst the leading malls in the country.”
The mall is already operational and 80% is leased out, however a formal launch is being planned around October 2012 by when the mall is likely to be fully occupied.
“We were keen to bring a team on board that understood retail from an international perspective and at the same time was close to the ground realities and local Indian requirements” mentions Yossi Ofir, CEO Plaza Centre Group on the appointment of Property Zone.
