Page 3 - Nexus Select News Today

Shopping Mall Business Trend Analysis: The report reveals a robust growth in food and beverage sales at 7.08 per cent on a weighted average basis, with the North region again leading at 13.09 per cent. Whereas, entertainment sales have experienced a moderate growth rate of 6.67 per cent on a weighted average basis, with the North region achieving a 9.70 per cent growth.

Indias first listed retail Real Estate Investment Trust (REIT), Nexus Select Trust, has reported a record-high quarterly tenant sales of Rs 3,300 crore, marking an 8% YoY increase. The REIT achieved its highest-ever retail occupancy of 97.3% and saw a 14% YoY growth in net operating income. It is on track to meet its financial year 2023-24 guidance and has declared a distribution of Rs 303 crore for the third quarter. Nexus Select Trust has also refinanced debt, resulting in annual savings of Rs...

In a statement, Nexus Select Trust said it has achieved net operating income (NOI) of Rs 418.5 crore in the October-December quarter of this fiscal, up 14 per cent from the year-ago period.

The potential deal will comprise the E-Galleria mall in Moosarambagh, L&T Metro Mall in Punjagutta, and the Next Galleria Mall near Irrum Manzil, people familiar with the matter said.

A roundup of top newspaper stories to keep you ahead of the others.

Demand for fashion and gadgets remained strong during the festive season, with a recovery of almost 130% of revenues compared to 2019.

Market experts strongly believe the demand will not only sustain in 2024 but rise further, albeit at a slower pace, on high economic growth and expectations of a fall in home loan interest rate.

Embassy REIT CEO Aravind Maiya said the entity’s public shareholding continues to go up and has increased from 30 per cent at IPO to 92 per cent now.

Embassy Office Parks REIT is Indias first Real Estate Investment Trust (REIT) sponsored by Blackstone and Bengaluru-based realty firm Embassy group.

Global investment firm Blackstone on Wednesday sold its entire 23.5 per cent stake in Embassy Office Parks REIT for around Rs 7,100 crore, according to sources. Embassy Office Parks REIT is Indias first Real Estate Investment Trust (REIT) sponsored by Blackstone and Bengaluru-based realty firm Embassy group. Blackstone sold its stake in the entity at around Rs 316 per share through open market transactions and at this price, the deal is valued at about Rs 7,100 crore, the sources said.