Prozone to develop malls in Indore and Nagpur

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Prozone Enterprises has bought a majority stake in special purpose vehicles (SPVs) of Hagwood Commercial Developers and Omni Infrastructure. The SPV is for developing malls in Indore and Nagpur. The company has not disclosed the financial details of SPV deal.

Prozone Enterprises, a subsidiary of Provogue India, is planning to construct over 50 Prozone malls. The company is in the process of developing retail space in tier II cities like Indore, Mysore and Raipur. The company has JVs with players like Omaxe Group and UK-based Liberty International PLC, to develop malls in the country.

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