Prozone Enterprises, is a joint venture between apparel maker Provogue (India) and UK-based Liberty International. Prozone’s arm is developing commercial complexes which would include retail, entertainment, food courts, cafes, restaurants, fine dining, hotels and convention centres.

There have been concerns that the high real estate prices in the country is a bubble. Yet, this deal highlights that investments from foreign companies including real estate funds are continuing unabated. Triangle Real Estate India Fund is co-promoted by ICS group and Old Mutual Investment Group Property Investments, the property division of Old Mutual. In India, Old Mutual is well known as Kotak Mahindra’s partner in the insurance business.

ICS, on the other hand, offers a range of property services together with architectural design services, mall management services and car park management.