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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.
India's 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 11.5 crore. The REIT's portfolio includes 17 Grade-A urban consumption centres and has a tenant ba...
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.
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