Bengaluru: Global asset manager Blackstone Group has acquired South City Mall in Kolkata for ₹3,250 crore from South City Projects, in the largest retail asset buyout in recent years.South City Projects is a consortium of real estate developers and business families in Kolkata. Launched in January 2008, South City is the largest shopping mall in eastern India, with over a million sq. ft.Also Read | Blackstones first-quarter profit rises on robust private equity, credit performanceThe deal took around nine months to close. Property consultancy Anarock Group was the transaction adviser.“We are thrilled to strengthen our presence in India and invest in this iconic asset. South City Mall is a definitive destination in Kolkata for shopping, dining, leisure, and entertainment,” Asheesh Mohta, head of real estate acquisitions—India, Blackstone, said in a statement.“We are committed to continuing South City Group’s wonderful work and positioning South City Mall for long-term success, benefiting from our scale, operational expertise, and deep experiences in the retail sector, particularly in India, where we own one of the largest retail portfolios,” Mohta added.Nexus Select Trust, India’s first and only publicly listed retail-focused real estate investment trust (Reit), is backed by Blackstone.Also Read | Blackstone leads the race to acquire AGS in a $1.3 bn dealSushil Mohta, chairman of real estate firm Merlin Group and director of South City Projects, says, “South City Mall is a prime retail asset in south Kolkata. The mall has numerous premium retail and lifestyle brands.”Blackstone has acquired the mall in Kolkata, at a time when Mumbai-based Phoenix Mills Ltd, the largest shopping mall developer, is building a large mall in the city’s upscale Alipore neighbourhood.“South City Mall has a very high footfall, ranging between 55,000-60,000 daily, surging to 75,000–200,000 during weekends and festive seasons,” said Soumendu Chatterjee, regional director—land, Anarock Group.Blackstone has invested in multiple real estate asset classes in the country, including commercial office, retail, warehousing, and, more recently, residential.Over 16.6 million sq. ft of new Grade A mall supply is expected to enter the top seven cities in 2025 and 2026, as consumer demand and leasing momentum remain high, as per Anarock research.With a combined 65% share of this supply, Hyderabad and Delhi-National Capital Region will command the lion’s share among the top cities. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Blackstone has acquired South City Mall in Kolkata for ₹3,250 crore.
