Property Zone to manage Plaza mall in Pune
In its first ever Indian investment, Plaza Centres Group has appointed Pioneer Property Zone (PPZ) for managing their upcoming mall in India. Property Zone will look after financial management and implement strategies for growing the asset performance. The upcoming property is at Koregaon Park Plaza Mall in Pune.
The Plaza Centres Group is one of the leading emerging markets developers of shopping and entertainment centres. It 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 via Pune – Koregaon Park Plaza.
Ashwin Puri, CEO, Pioneer Property Zone said, “We are extremely happy to work with a global player like Plaza Centres 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 per cent 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,” said Yossi Ofir, CEO Plaza Centre Group on the appointment of Property Zone.