Prozone Intu Properties acquires stake in Gajannan Property Developers

Prozone Intu Properties through it associate entity Calendula Commerce has acquired stake in Gajannan Property Developers (SPV of Paradigm Realty) for joint development of a green field redevelopment project in Oshiwara, Andheri West, Mumbai. Paradigm Realty group specializes in Slum Rehabilitation Authority (SRA) projects in Mumbai. It has successfully completed several residential projects.

This redevelopment project is on an approximately 10 acres land parcel situated in the western suburb of Andheri, Mumbai offers a highly sought after and lucrative opportunity for Prozone to strategically enter a mature market in a Tier 1 metro city. PIPL will execute the designing & construction of the mall, followed by running the operations of the mall.

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.