Blackstone is coming up with the Indias first retail mall REIT IPO,
This is the third REIT listing, and it will be called as Nexus Select Trust,
It include assets of premium mall Select City Walk from Delhi and Bangalore's developer Prestige Group.
Where Nexus mall is the largest mall operator in India has acquired 17 malls in 13 cities.
Retail sales in Indian malls are set to grow at a CAGR of 29% in FY22-28 to touch $39 billion by FY28 and footfalls is increasing and people are increasing their purchases from malls.
Already listed Embassy REIT is planning to invest 2200 cr to develop new office buildings in next 3-4 years.
Recently Blackstone sold 7.7 cr shares of Embassy REIT amounting to Rs 2650.
Blackstone is the most agressive institutional investor which is the largest office space owner in India with an office portfolio of around 100 million sq ft across 38 assets in 7 cities. Of this, around 13 million sq ft offices are under construction and 16 million sq ft for future development.
It's AUM is estimated to be odd 60 billion of which Real estate is major one.
India's real estate sector is witnessing a growth post COVID.
and Blackstone being in the main lead in this sector acting quick.
