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Prozone INTU is specialist retail and residential led mixed use real estate developer, harnessing Intu Properties Plc (INTU) experience as UK’s largest retail real estate developer combined with Prozone in-depth knowledge of the Indian retail marketplace. The company has a strong balance sheet, a large land bank fully paid, a planned pipeline of projects and a strong domestic execution team. Prozone Intu has attracted investments from major institutional investors, notably the Triangle Fund (anchored by Old Mutual Group, South Africa) and the Lewis Trust Group, UK in its subsidiary Companies.
Prozone Intu set up its first mall in the city of Aurangabad in 2010. The mall remains the dominant player in the Marathwada region making it an established asset with a strong tenant-mix. The mall which is more than 700,000 sq. ft. in area boasts of 200+ national & international brands. We recently launched its second mall at Coimbatore which is over 500,000 sq. ft. in area & boasts 150+ national & international brands. The company owns six land banks in strategic city locations across the country.
Business area of the company
The business model is to acquire large land parcels at select locations in high growth corridors within city limits. Subsequently design, develop, execute and manage high quality Regional Shopping and Entertainment Centres and on the conjugant land bank to develop and sell mixed-use Residential Townships and Commercial Office Blocks to create new 'city centres' across the rapidly evolving Indian urban landscape.
The overarching plan is to develop long term scarce assets with properties that optimize the intrinsic value of the land with sale of Residential and Commercial units to monetize the land banks facilitating the creation of debt-free retail assets generating annual income over the long term. As India's retail market matures, quality retail real estate assets are expected to develop high yield compression ratios.