Blackstone to buy Delhi's Select Citywalk Mall

23 Aug 2022 CW Team

Nexus Malls is reportedly in talks to acquire Delhi's premium mall Select Citywalk which generates the highest sales per square foot in the country. According to reports, the acquisition is part of Blackstone group's broader strategy to launch retail REITs. Select group has not added any mall to the portfolio in the 15 years of operation of Select Citywalk. With no plan for expansion, the owners want it to be part of REIT. Real estate investment trust (REIT) is a public listed company that houses rent generating commercial, residential or retail complex.

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