Real estate developer Suraj Group has appointed Pioneer Property Zone (PPZ), shopping mall developer and manager, for its upcoming 100 crore flagship mall at Indiranagar, West Bangalore. PPZ will manage the overall brand mix and leasing strategy for the mall that will cover an approximate area of 200,000 sq.ft. and will have four levels.
Designed by Bentel Associates, the construction of the mall has already begun. The project is likely to be completed by the second quarter of 2014.
Commenting on the appointment, Ashwin Puri, CEO, Pioneer Property Zone, said: “The mall has been designed as an open air development with green and open environment forming an important ingredient to take advantage of the Bangalore weather. Food and entertainment will play an anchor role in the project with a mix of national and international retailers on the ground and first floors. This will also be the first multiplex to open in this locality of Bangalore.”
The shopping destination will have two levels dedicated to a mix of international and local boutique upmarket stores. It will also have one level for movies with PVR as the cinema operator, and another level dedicated to food and entertainment.
PPZ offers property solutions ranging from investment advisory, design development, leasing, lease management, and asset management. It has five retail malls under management with over 600 retailers. The company will also open Vega City mall scheduled to be operational in October 2012. Pioneer Property Zone was set up in late 2004 as a joint venture between ICS Realty (a 100 percent owned subsidiary of ICS Group) and Old Mutual Property (a 100 percent owned subsidiary of the London-listed insurance firm Old Mutual Plc).
-IndiaRetailing Bureau
