Blackstone buys Kolkata's South City Mall for ₹3,250 crore

Global asset manager Blackstone Group has made a significant move in the Indian real estate market by acquiring South City Mall in Kolkata for ₹3,250 crore. This strategic purchase from South City Projects marks one of the largest retail real estate deals in the region, reinforcing Blackstone's commitment to expanding its footprint in India. As one of Kolkata's most prominent shopping destinations, South City Mall attracts millions of visitors annually, making it a lucrative investment for the firm. The acquisition is part of Blackstone's broader strategy to capitalize on India's growing consumer market and burgeoning retail sector. With this deal, Blackstone aims to enhance the mall's offerings and further solidify its position as a leading player in the Indian retail landscape. The firm has been actively investing in commercial properties across the country, and this latest purchase underscores its confidence in the long-term growth potential of India's economy. Industry experts suggest that the deal could trigger more investments in Indian retail real estate, as global investors increasingly recognize the opportunities within the market. Blackstone's acquisition is expected to not only boost the mall's development but also contribute positively to the local economy by creating jobs and enhancing infrastructure. As the transaction unfolds, stakeholders will be keenly observing how Blackstone leverages its global expertise to transform South City Mall into an even more dynamic shopping hub.

— Authored by Next24 Live