Inauguration ceremony at a newly acquired mall, signifying expansion for Nexus Select Trust.
Nexus Select Trust has approved the acquisition of Diamond Plaza in Kolkata for ₹347.5 crore (approximately $41.9 million), according to a recent announcement. This acquisition marks an expansion of the trust’s retail portfolio, adding another mall to its collection of assets.
The company has also appointed new auditors and valuation services, indicating a strategic move to enhance its operational and financial oversight as it grows. These appointments are part of Nexus Select Trust’s ongoing strategy to strengthen its market presence and ensure robust governance.
This acquisition reflects a continued interest in expanding retail infrastructure in key metropolitan areas. Kolkata’s Diamond Plaza will join Nexus Select Trust’s growing list of properties, enhancing the trust’s ability to capture consumer spending in the region.
The deal underscores the ongoing investment activity in India’s retail sector, driven by both domestic consumption patterns and strategic expansions by major real estate investment trusts.
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