Altair Colombo unsold units acquired by Blackstone

Global investment firm Blackstone has acquired the unsold inventory of the Altair luxury residential project and South City Mall in Kolkata from South City Projects for INR 3,250 crore. 

It is the largest real estate acquisition in Kolkata and one of the most significant in Eastern India, a report by Millennium Post highlighted.  

The cross-border transaction was facilitated by Anarock Group, which acted as the exclusive advisor.

The deal marks Blackstone’s strategic entry into Kolkata’s retail market. With 18 malls across 14 Indian cities, this is its first regional investment.

South City Mall on Prince Anwar Shah Road features over 150 retail outlets, a six-screen INOX multiplex, and international brands such as Zara, Armani, and Starbucks. The property generates an estimated Rs 1,800 crore in annual turnover and attracts up to 150,000 visitors during peak periods.

The acquisition strengthens Blackstone’s position in South Asia’s residential and retail segments, with the firm expected to enhance value across both the Colombo and Kolkata assets.