Blackstone Acquires Kolkata’s South City Mall for ₹3,250 Crore: City’s Biggest Real Estate Deal

In a record transaction, global private equity giant Blackstone has acquired Kolkata's South City Mall, an iconic landmark, for ₹3,250 crore, the city's largest realty deal. The acquisition marks Blackstone's strategic entry into eastern India's hot retail market and solidifies its position as one of India's top retail asset owners.

 

Key Highlights:

 

•⁠  ⁠Prime Retail Asset: South City Mall, which spans 10–12.5 lakh sq ft, boasts more than 150 Indian and international brands, a six-screen multiplex, and the biggest food court in the area that experiences a daily traffic of 55,000–60,000 and 200,000 during peak season.

 

•⁠  ⁠Financial Performance: The mall has a mean annual turnover of over ₹1,800 crore, giving it the top position among India's wealthiest destinations to shop.

 

•⁠  ⁠Strategic Acquisition: It is Blackstone's largest retail acquisition in Kolkata, increasing its portfolio to 18 malls across 14 Indian cities.

 

•⁠  ⁠Transaction Details: The transaction was arranged by real estate consulting service ANAROCK and is a stamp of approval on the retail ecosystem of eastern India.

 

Prospects: With Blackstone's operational expertise and global retail knowledge, South City Mall will go on to scale newer heights and bring in fresh innovations. The transaction will go a long way in boosting investors' confidence in the Kolkata real estate market and setting a new benchmark for future high-value retail investment in the city.

 

Source: Moneycontrol, Hindustan Times, The Hindu BusinessLine