Blackstone, a global asset manager, has acquired South City Mall in Kolkata for ₹3,250 crore from South City Projects.
South City Mall was developed by South City Projects and launched in January 2008. South City Projects, which runs the mall, is a consortium of six Kolkata-based business families including Emami Group, Merlin Group, Park Chambers Group, Shrachi Group, Jugal Kishore Khetawat, and Rajendra Kumar Bachhawat.
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 ₹1800 crore. 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.
Sushil Mohta, Chairman of Merlin Group and Director of South City Projects, said, “We applaud Blackstone on this acquisition. 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, including Pantaloons, Zara, Shoppers Stop, Tommy Hilfiger, Levi’s, Only, Armani, Calvin Klein, The Collective, United Colours of Benetton, Adidas, PUMA, Fab India, M.A.C, Skechers, and Spencer’s, among others.”
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.”
