Kolkata's south city mall on sale one of india's biggest landlords nearing ₹3 500 crore deal
One of India's largest landlords Blackstone is in talks to buy one of Kolkata's most famous malls, South City Mall, for as much as $400 million (about ₹3,500 crore), Bloomberg reported.The mall, owned by South City Projects, is located on Prince Anwar Shah Road and is the largest shopping mall in East India, according to its website. South City Projects is a joint venture of several real estate developers based in Kolkata.
It hosts outlets of brands like Zara, Sephora and Marks & Spencer in addition to movie theatres and a gaming arena. It has a gross leasable area of about 800,000 square feet. With service areas and car parks, the mall is spread over 1.1 million square feet
Blackstone, which has deployed $20 billion in office space and hotels in India, is reportedly talking to financiers to arrange for funding for the transaction.
The $1.1-trillion asset manager is looking to utilise consumer spending, which is responsible for nearly 60% of India's gross domestic product. Blackstone has been investing in warehouses that capture the boom in e-commerce and the mall acquisition would extend that to brick-and-mortar stores.
If the deal is finalised, it would mark the first purchase of a retail mall by Blackstone in Kolkata.
Blackstone was founded in 1985 as a mergers and acquisitions firm by Peter G Peterson and Stephen A Schwarzman, who had previously worked together at Lehman Brothers.
In India, Blackstone is also a sponsor of Nexus Select Trust, a real estate investment trust (REIT), which is the largest mall operator in the country.
Us report criticises india’s trade policies
Apr 04, 2025
Stay updated with The Hindu Editorial Vocab24 app, your definitive source for breaking news and comprehensive coverage from India and around the globe. Whether it's political developments, business updates, sports highlights, the latest technology trends, or current events, The Hindu brings live, accurate, and reliable news directly to your device.
Don’t fall for sensationalized or fake news shared online. Read and share accurate updates with friends and family through The Hindu Editorial Vocab24 app. Download it today!
News Coverage in The Hindu Editorial Vocab24 App
Breaking News: Receive instant notifications on breaking news stories as they unfold. Stay informed about major events and developments in India and around the world with live blogs, news in shorts videos, and concise articles.
Politics: Get the latest updates on Indian politics, including elections, policy changes, government decisions, and political events that shape the nation.
Business and Economy: Stay ahead in the economic landscape with detailed business news and market analysis. Learn about stock market trends, financial reports, corporate news, and economic developments to make informed investment decisions.
Current Events: Follow stories on social issues, policy changes, global events, and daily current affairs, tailored for UPSC and other competitive exam preparations.
Technology: Keep up with the latest gadgets, innovations, and tech trends. Read expert reviews and analyses in short, concise updates on cutting-edge technology from India and beyond.
Sports: Never miss a moment of your favorite sports. Get live scores, match reports, and expert analysis on cricket, football, tennis, and more.
International News: Stay informed about global events and geopolitical developments, including the Russia-Ukraine war, Israel-Palestine conflict, and other key international stories.
Local News: Stay connected to your community with the latest updates on city events, issues, and local news. Coverage includes hyperlocal updates from cities like Bangalore, Chennai, Delhi, Hyderabad, Mumbai, Kolkata, and more.
Trending Topics: Discover what's trending today with the most talked-about stories and hot topics across India and the world.
Experience journalism that values integrity, accuracy, and reliability. Download The Hindu Editorial Vocab24 app today and stay connected with the world.
Subscribe to our newsletter!
