Sources: 1
US investment giant Blackstone is on the verge of acquiring Calcutta’s iconic South City Mall for approximately
$400 million (Rs 3,480 crore), marking one of the largest mall acquisitions in India.
Opened in 2008, South City Mall spans over
one million square feet and houses around
170 stores, including international brands like Zara and Marks & Spencer, alongside popular domestic retailers. Its prime location in south Calcutta has made it a key shopping destination.
This acquisition will represent Blackstone’s entry into the Calcutta retail market, expanding its footprint in India’s mall sector. Through its Nexus Select Trust, a real estate investment trust, Blackstone currently manages a portfolio of about
18 malls across 14 cities in India.
Blackstone has already invested
$20 billion in Indian office spaces and hotels, and this deal adds to its growing retail property holdings. The move aligns with Blackstone’s strategy as a
$1-trillion asset manager to deepen its presence in India’s commercial real estate market.
“The South City Mall acquisition is a significant milestone for Blackstone, marking our entry into Calcutta’s retail sector,” industry analysts noted.
The deal underscores the increasing interest of global investors in India’s retail real estate, driven by rising consumer demand and urban growth.
Blackstone’s Nexus Select Trust continues to be a key vehicle for its retail investments, reinforcing its position as a dominant player in India’s commercial property landscape.
Sources: 1
US investment giant Blackstone is nearing a $400 million deal to acquire Calcutta’s South City Mall, one of the city’s largest shopping centers with over 170 stores. This marks Blackstone’s entry into Calcutta’s retail market, expanding its Indian mall portfolio managed through Nexus Select Trust.
