Nexus Select Trust to acquire Vega City Mall in Bengaluru for Rs 8.7 billion

21 Oct 2024 CW Team

Nexus Select Trust, a REIT backed by rent yielding retail assets, will acquire a shopping mall in Bengaluru for Rs 877 crore. According to the latest regulatory filing, the Board of Directors of Nexus Select Mall Management Pvt Ltd -- the manager to Nexus Select Trust -- has approved the acquisition of Vega City Mall in Bengaluru. The asset consist of a fully functional mall having a total area of 0.45 million sq ft from Blue Horizon Hotels as well as land on which the mall is constructed, presently owned by A S Muniswamy Raju HUF, for a total purchase consideration not exceeding Rs 8.77 billion or for a consideration as may be mutually agreed by the parties to the transaction. The acquisition by Nexus Select Trust will be through its special purpose vehicle Vijaya Productions Pvt Ltd. The deal is subject to execution of the transaction documents and fulfilment of customary and commercially agreed closing conditions. Vijaya Productions Pvt Ltd will be paying cash consideration for acquisition of the mall and the land. The deal is expected to conclude next week. The land, currently owned by the A S Muniswamy Raju HUF, has been leased to the Blue Horizon Hotels Pvt Ltd under a leasing arrangement. "With this proposed acquisition, Nexus Select Trust, will consolidate its presence in Bengaluru and aim to benefit from embedded upsides from potential operational synergies," the filing said. Nexus Select Trust's portfolio comprises 17 shopping malls with a gross leasable area of 9.9 million sq ft spread across 14 cities in India, two complementary hotel assets (354 keys) and three office assets with a gross leasable area of 1.3 mn sq ft. Its retail real estate assets have a tenant base of 1,000+ domestic and international brands spanning across around 3,000 stores.

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..