ANAROCK Group, India’s leading independent real estate services firm, has successfully advised on Blackstone’s acquisition of South City Mall in Kolkata. Blackstone has acquired this prime asset for a transaction value of INR 3,250 crore. ANAROCK was the sole transaction advisor in the deal.
South City Mall is largely regarded as a crown jewel on East India’s retail landscape. 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.
Sushil Mohta, Chairman of Merlin Group and Director of South City Projects, says, “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.”
Commenting on this landmark deal, Soumendu Chatterjee, Regional Director - Land, ANAROCK Group, says "We are delighted to have been the sole transaction advisor for the iconic South City Mall. 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.
