coimbatore prozone intu which is jointly promoted by prozone and intu properties a uk ftse100 company with assets of over 10 billion pounds is developing a mall in nagpur a top official said the company has bought about 200 acres across the country primarily in tierii cities including mysore jaipur and indore to develop malls said nikhil chaturvedi managing director prozone intu properties the company is focusing mainly on tierii cities for developing malls about 20 of the retail space contributes to 60 of the shopping in regional shopping centres tier2 locations chaturvedi who was in the city to launch its new mall its first in south india said prozones aurangabad mall which opened in october 2010 sees a footfall of 9 million per year he claimed the company has invested about rs 350 crore over 34 years in the coimbatore mall which is spread over 5 lakh sqft he said it is also developing 500 apartments close to the mall which abuts the main sathyamangalam road the first phase of the residential project in the city would see investments of rs 200 crore and would be ready for occupation in 24 months chaturvedi said typically we invest rs 550rs 600 crore in a mallcumresidential project he stated the nagpur project which would have 350 residential units would be completed in three years he said the coimbatore mall would generate rs 50 crore through a mix of rent and revenue sharing in the first full year of operations chaturvedi said tnn published on jul 20 2017 at 0803 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etretail app get realtime updates save your favourite articles scan to download app prozone intu nikhil chaturvedi shopping centres 350 residential units uk ftse100 homenewsprozone intu eyes tierii cities to build malls