Nexus Select Trust Acquires Bengaluru's Vega City Mall for Rs 9.13 billion

14 Feb 2025 CW Team

Blackstone-backed Nexus Select Trust, India's first retail real estate investment trust (REIT), has completed the acquisition of Vega City Mall in Bengaluru for Rs 9.13 billion, as announced in a regulatory filing on February 13. The total enterprise value of the acquisition includes a purchase price of Rs 8.69 billion and additional costs for planned capital expenditures, including renewables and closing costs.

With this acquisition, Nexus Select Trust now owns four malls in Bengaluru, totaling 1.7 million square feet, and six malls across Karnataka, with a combined portfolio of 2.7 million square feet. The company has plans to double its mall portfolio over the next five years. The Nexus Select Trust portfolio currently consists of 18 Grade-A shopping malls across 10.4 million square feet in 14 cities, along with two hotels (354 keys) and three office assets, offering a Gross Leasable Area of 1.3 million square feet.

Vega City Mall, located in South Bengaluru, is 96% leased to a diverse mix of both international and domestic brands. This acquisition further strengthens Nexus Select Trust's position in the retail real estate sector, aligning with its strategy to expand its high-quality asset portfolio.

In a separate transaction, Blackstone, which holds a 43 per cent stake in Nexus Select Trust, sold 330 million units of the REIT for approximately Rs 45.50 billion in August 2024. This sale was part of Blackstone's strategy to monetize its real estate holdings in India.

News source: Hindustan Times

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..

Company showcases North America-certified machinery and secures new deals

Zoomlion Heavy Industry Science & Technology Co., recently showcased a wide portfolio of North America-certified and customised construction equipment at CONEXPO-CON/AGG 2026 in Las Vegas. The display included engineering hoisting machinery, concrete equipment, earthmoving machinery, mining equipment and construction hoisting solutions tailored to regional operational requirements.All equipment presented at the exhibition complies with North American certification standards, with several models specifically developed to meet local regulatory requirements and site conditions. One of the hig..

Sinoboom Launches Dual-ETM Smart Technology

Sinoboom recently introduced its Dual-ETM Smart Technology at CONEXPO-CON/AGG 2026, designed to enhance battery endurance and operational efficiency in electric boom lifts.The new technology integrates advanced components that enable real-time optimisation of power usage during equipment operation. By calculating the precise power requirement instantly, the system delivers only the energy needed for each movement, reducing the inefficiencies associated with conventional maximum-demand power systems.The solution incorporates multiple sensors—including pressure, weight, length and level sensor..