Nexus Select Trust Purchases Bengalurus Vega City Mall
Nexus Select Trust, one of India’s leading retail real estate investment trusts (REITs), has made a strategic acquisition in Bengaluru by purchasing the Vega City Mall for a substantial ₹913 crore. This acquisition marks a significant expansion for the Trust in the rapidly growing retail sector, further strengthening its presence in key urban markets across India.
Located in one of Bengaluru’s prime commercial and residential hubs, Vega City Mall is a high-traffic retail space that has become a prominent landmark in the city’s shopping and entertainment landscape. With a gross leasable area of over 1.2 million square feet, the mall offers a mix of national and international retail brands, along with dining and entertainment options that cater to a diverse customer base.
This acquisition aligns with Nexus Select Trust’s strategic goal of increasing its footprint in the Indian retail real estate market. By acquiring high-quality assets in major cities, the Trust aims to capitalise on the growing demand for retail spaces driven by the rise in consumer spending, particularly in India’s Tier 1 cities.
Industry experts believe that this acquisition will further strengthen Nexus Select Trust’s position in the market, providing it with an attractive income-generating asset. As part of the deal, the Trust will also have the opportunity to enhance the mall’s performance through strategic upgrades and repositioning efforts, improving its appeal to both tenants and customers alike.
With the retail sector in India showing strong growth prospects, particularly post-pandemic, this acquisition is expected to provide Nexus Select Trust with a stable and long-term revenue stream. The Trust’s ability to secure such prime properties reflects its growing influence in the Indian commercial real estate sector.
