Blackstone Acquires South City Mall for ₹3,250 Crore, Bolstering Retail Presence in India
Global investment giant Blackstone has acquired South City Mall in Kolkata for ₹3,250 crore, marking one of the largest single-asset retail transactions in India. This deal strengthens Blackstone’s position as the leading institutional owner of retail space in the country.
BlackstoneSouth City MallRetail Real EstateIndiaKolkataReal Estate NewsJun 17, 2025
With this deal, Blackstone further consolidates its position as the leading institutional owner of retail space in India. South City Mall, a landmark property in Eastern India, will add over one million square feet of prime retail space to Blackstone’s portfolio.
“We are thrilled to strengthen our presence in India and invest in this iconic asset,” said Asheesh Mohta, Head of Real Estate Acquisitions–India, Blackstone. “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 experience in the retail sector, particularly in India, where we own one of the largest retail portfolios.”
Commissioned in 2008 by a consortium of leading Kolkata-based real estate developers, South City Mall has evolved into one of the most successful malls in the region. It houses over 150 Indian and international brands, including Zara, Shoppers Stop, Pantaloons, The Collective, Tommy Hilfiger, Armani, and M.A.C, among others.
With an average annual turnover exceeding ₹1,800 crore, the mall attracts daily footfall between 55,000 and 60,000, surging to over 200,000 on weekends and during festive seasons. It also features the largest food court in East India and a parking facility for more than 1,250 cars.
Soumendu Chatterjee, Regional Director—Land, ANAROCK Group, said, “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.”
Sushil Mohta, Chairman of Merlin Group and Director of South City Projects, said, “Blackstone’s acquisition is a significant milestone not only for us but for the broader retail ecosystem in Eastern India. South City Mall has set benchmarks in retail and continues to be a magnet for top brands and consumers alike.”
Prakash Bachhawat, Director – JB Group, who led the deal on behalf of South City Projects, called the transaction “a vote of confidence in Eastern India’s retail growth potential.”
With this acquisition, Blackstone is not only investing in a high-performing retail destination but also reaffirming its long-term commitment to India’s real estate sector, particularly in Tier-1 cities and high-density urban catchments.
Frequently Asked Questions
What is the significance of Blackstone's acquisition of South City Mall?
Blackstone's acquisition of South City Mall for ₹3,250 crore is significant as it marks one of the largest single-asset retail transactions in India, further consolidating Blackstone’s position as the leading institutional owner of retail space in the country.
How does South City Mall contribute to Blackstone's portfolio?
South City Mall adds over one million square feet of prime retail space to Blackstone’s portfolio, making it a key asset in their retail real estate holdings in India.
What is the annual turnover of South City Mall?
South City Mall has an average annual turnover exceeding ₹1,800 crore, making it one of the most successful malls in the region.
Who advised Blackstone on this acquisition?
ANAROCK Group exclusively advised Blackstone on the acquisition of South City Mall.
What are the key features of South City Mall?
South City Mall houses over 150 Indian and international brands, features the largest food court in East India, and has a parking facility for more than 1,250 cars. It attracts daily footfall between 55,000 and 60,000, surging to over 200,000 on weekends and during festive seasons.
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