Blackstone acquires Kolkata’s South City Mall for US$377 million

In India, with the buyout of developer South City Project on June 17, the US investment fund Blackstone has acquired Kolkata’s South City Mall. The transaction, carried out with the assistance of real estate consultant Anarock, is valued at US$377 million. Opened in January 2008, the South City Mall has 93,000 sq.m of gross leasable area and houses 250 stores. With an average daily footfall of 55,000 to 60,000 visitors, rising to 200,000 at weekends, the mall generates average annual revenue of