Blackstone Acquires Landmark South City Mall in Kolkata

In a landmark deal for Kolkata’s retail landscape, global investment firm Blackstone has completed the acquisition of the iconic South City Mall. The transaction, valued at a substantial INR 3,250 crore, was a complex deal successfully facilitated by ANAROCK Group, which served as the sole transaction advisor.

The South City Mall is widely considered a premier retail destination in East India. Spanning over one million square feet, it’s a hub for both international and domestic brands, and it reports an impressive annual turnover exceeding INR 1,800 crore. The mall also features the largest food court in the region and extensive multi-level parking.

According to Sushil Mohta, Chairman of Merlin Group and a Director of South City Projects, this acquisition is a strong vote of confidence in Kolkata’s growing retail ecosystem. Asheesh Mohta, Blackstone’s Head of Real Estate Acquisitions in India, echoed this sentiment, stating that the firm is committed to leveraging its global scale and operational expertise to ensure the mall’s continued success. He noted the mall’s role as a key community hub for shopping, dining, and entertainment.

This acquisition adds a significant asset to Blackstone’s already extensive Indian real estate portfolio, which includes a large number of retail properties. The deal was led by Prakash Bachhawat of the JB Group on behalf of South City Projects.