Blackstone Acquires South City Mall for Rs 32.5 Bn

18 Jun 2025 CW Team

South City Mall is widely regarded as a premier retail destination in East India. Spanning more than one million square feet, it houses over 150 international and Indian brands. With an average annual turnover exceeding Rs 18 billion, the mall features the region’s largest food court, a multi-level parking facility for more than 1,250 cars, and attracts significant footfall—ranging from 55,000 to 60,000 daily visitors, which surges to between 75,000 and 200,000 during weekends and festive seasons.

Sushil Mohta, Chairman of Merlin Group and Director of South City Projects, commented:

“We applaud Blackstone on this acquisition. South City Mall is truly a prized retail asset in a prestigious South Kolkata location. It offers a curated blend of premium lifestyle and retail brands such as Zara, Shoppers Stop, Tommy Hilfiger, Levi’s, Armani, Calvin Klein, The Collective, MAC, and Spencer’s.”

Soumendu Chatterjee, Regional Director – Land at ANAROCK Group, added: “We are proud to have advised on this high-profile transaction. This deal underscores ANAROCK’s ability to facilitate complex, high-value transactions and our continued commitment to advising on marquee assets. Under Blackstone’s stewardship, we expect the mall to further strengthen its position as a leading retail destination.”

Asheesh Mohta, Head of Real Estate Acquisitions – India at Blackstone, said: “We are excited to invest in this iconic retail asset. South City Mall serves as a community hub and an epicentre for shopping, dining, and entertainment in Kolkata. We aim to build on the South City Group’s legacy and ensure long-term growth, leveraging our scale and retail sector expertise.”

Prakash Bachhawat, Director at JB Group, who led the transaction on behalf of South City Projects, stated: “This acquisition is not just a business transaction; it represents a major boost of confidence in Eastern India’s retail market. South City Mall remains an iconic development and we’re proud to partner with a global leader like Blackstone.”

Launched in January 2008, South City Mall was developed by a consortium of leading regional developers. It remains a cultural and retail landmark, redefining the shopping and leisure landscape of Kolkata.

ANAROCK Group, one of India’s foremost independent real estate services firms, has successfully advised Blackstone on its acquisition of South City Mall in Kolkata for a transaction value of Rs 32.5 billion. ANAROCK served as the sole transaction advisor for the landmark deal.South City Mall is widely regarded as a premier retail destination in East India. Spanning more than one million square feet, it houses over 150 international and Indian brands. With an average annual turnover exceeding Rs 18 billion, the mall features the region’s largest food court, a multi-level parking facility for more than 1,250 cars, and attracts significant footfall—ranging from 55,000 to 60,000 daily visitors, which surges to between 75,000 and 200,000 during weekends and festive seasons.Sushil Mohta, Chairman of Merlin Group and Director of South City Projects, commented:“We applaud Blackstone on this acquisition. South City Mall is truly a prized retail asset in a prestigious South Kolkata location. It offers a curated blend of premium lifestyle and retail brands such as Zara, Shoppers Stop, Tommy Hilfiger, Levi’s, Armani, Calvin Klein, The Collective, MAC, and Spencer’s.”Soumendu Chatterjee, Regional Director – Land at ANAROCK Group, added: “We are proud to have advised on this high-profile transaction. This deal underscores ANAROCK’s ability to facilitate complex, high-value transactions and our continued commitment to advising on marquee assets. Under Blackstone’s stewardship, we expect the mall to further strengthen its position as a leading retail destination.”Asheesh Mohta, Head of Real Estate Acquisitions – India at Blackstone, said: “We are excited to invest in this iconic retail asset. South City Mall serves as a community hub and an epicentre for shopping, dining, and entertainment in Kolkata. We aim to build on the South City Group’s legacy and ensure long-term growth, leveraging our scale and retail sector expertise.”Prakash Bachhawat, Director at JB Group, who led the transaction on behalf of South City Projects, stated: “This acquisition is not just a business transaction; it represents a major boost of confidence in Eastern India’s retail market. South City Mall remains an iconic development and we’re proud to partner with a global leader like Blackstone.”Launched in January 2008, South City Mall was developed by a consortium of leading regional developers. It remains a cultural and retail landmark, redefining the shopping and leisure landscape of Kolkata.

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