Blackstone has acquired South City Mall in Kolkata for a transaction value of Rs 3,250 crore. Spanning over one million square feet, the mall features a vast array of international and Indian brands and generates an average annual turnover of over INR 1800 Cr. It has the largest food court in this part of Kolkata, multi-storeyed parking capable of holding over 1250 cars simultaneously, and houses 150+ stores.
ANAROCK was the sole transaction advisor in the deal.
Sushil Mohta, Chairman of Merlin Group and Director of South City Projects said South City Mall is indeed a prime retail asset in one of the most prestigious and sought-after areas in South Kolkata. The mall boasts numerous premium retail and lifestyle brands.
Soumendu Chatterjee, Regional Director – Land, ANAROCK Group said we look forward to seeing the project continue to thrive in Blackstone’s able hands. “This landmark transaction once again showcases ANAROCK’s ability to facilitate large-scale, complex deals and commitment to delivering comprehensive real estate advisory services for marquee assets. The mall has a very high footfall – daily visitors range between 55,000 and 60,000, surging to 75,000–200,000 during weekends and festive seasons.”
Asheesh Mohta, Head of Real Estate Acquisitions – India, Blackstone, said: “We are thrilled to strengthen our presence in India and invest in this iconic asset. South City Mall is a place where the community comes together – it’s the definitive destination in Kolkata for shopping, dining, leisure, and entertainment. 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.”
Prakash Bachhawat, Director – JB Group, who led the transaction process on behalf of South City Projects, says, “This transaction represents more than an acquisition – it’s a vote of confidence in Eastern India’s retail ecosystem. South City Mall is an iconic development, and we’re proud to partner with a world-leading firm like Blackstone.”
South City Mall was developed by a consortium of leading real estate players in the region and launched in January 2008. A cultural and retail landmark, it is not just as a premier shopping destination but also as a vibrant community hub. It will continue to redefine the shopping and leisure experience in Kolkata.
