Nexus Select Trust's ₹531 Crore Bet on Ludhiana's Retail Future

In a strategic expansion move, listed Real Estate Investment Trust (REIT) Nexus Select Trust has acquired the MBD Complex in Ludhiana for Rs 531 crore, including a purchase consideration of Rs 490 crore. The asset includes a 0.3 million sq. ft. mall and a 96-key Radisson Hotel, marking the REIT’s second acquisition since its public listing.

“This acquisition aligns with our long-term vision of building a resilient, pan-India platform driven by growth, sustainability, and consumer experience,” said Dalip Sehgal, Executive Director and CEO. The deal was fully funded through sustainability-linked bonds.

Situated in a robust consumption-led market, the property maintains a 95% occupancy rate and features a diverse mix of top domestic and global brands. The acquisition also encompasses planned upgrades, reinforcing Nexus Select Trust’s focus on long-term value creation.

With existing properties in Chandigarh and Amritsar, the Ludhiana addition further strengthens the REIT’s footprint in northern India’s high-growth retail sector, supporting its broader goal of establishing a sustainable, high-performing national portfolio.

News by Rahul Yelligetti.