Rs 1,600 crore Nexus Select Trust deal signals Guwahati’s rising retail potential: Assam CM Himanta…

Reports coming in for today mention that Assam Chief Minister Himanta Biswa Sarma on September 10 lauded Nexus Select Trust’s latest Rs 1,600-crore acquisition of the under-construction Galaxy Complex in Guwahati as a major milestone for the state.

In a post on X, Sarma stated, "Guwahati's retail real estate market is a hot deal now!".

"Nexus Select Trust’s Rs 1,600 crore deal to acquire 100 percent ownership of the upcoming Galaxy complex, comprising a 5 lakh square feet mall and a 164-room Hyatt Regency, is a major vote of confidence in the city’s potential. This landmark investment reflects Guwahati's rising consumer demand and firm expansion momentum," Sarma stated.

"I invite industry bodies, market participants and market leaders to be part of this remarkable expansion story."

The transaction marks Nexus Select Trust’s first under-construction development transaction in the Northeast and its second such transaction since stock-exchange debut. It additionally represents a strategic evolution of the platform, from a decade of disciplined portfolio expansion, scaling from two malls to 19 best-in-class assets across India, towards selectively pursuing structurally de-risked development opportunities in high-potential consumption markets aligned with India’s long-term consumption expansion.

Dalip Sehgal, Executive Director and Chief Executive Officer, Nexus Select Trust, stated: “We will now have a presence in Kolkata and Guwahati, two of the most affluent cities of East India. Guwahati is the natural gateway to the region and offers a compelling combination of rising consumption, firm brand demand and limited Grade-A retail infrastructure."

Nexus Select Trust is India’s first listed retail Real Estate Investment Trust (REIT), backed by Blackstone. It owns, operates and manages a portfolio of urban retail shopping malls, office spaces and hotel properties across India.