Face2News/Chandigarh
Nexus Select Trust, India’s leading real estate investment trust focused on consumption centres, has successfully completed the acquisition of the MBD Complex in Ludhiana. This high-quality, Grade-A urban consumption centre spans approximately 0.3 million square feet and includes a 96-key Radisson Hotel, strategically located within one of Ludhiana’s most affluent and densely populated residential catchments.
The transaction was executed at a total enterprise value of INR 531 crore, which includes a purchase consideration of INR 490 crore, associated stamp duty of INR 10 crore, closing costs and a provision for planned capital expenditure — covering hotel renovations, mall upgrades, etc.
Recognized as Ludhiana’s premier retail destination, MBD Mall boasts an impressive occupancy rate of approximately 95%, anchored by a well-diversified tenant base featuring prominent international and domestic brands. As Ludhiana continues to evolve into a key retail hub in North India driven by a growing urban population and rising disposable incomes; this acquisition reinforces Nexus Select Trust’s strategic expansion into high-growth urban centres.
Dalip Sehgal, Executive Director and Chief Executive Officer at Nexus Select Trust, said,“We are pleased to announce the successful completion of our second acquisition since listing—MBD Complex, a marquee urban consumption centre with an integrated 96-key hotel.
This marks our fifth strategic acquisition in North India and is a powerful reaffirmation of our leadership in the region’s organised retail landscape. With a strong presence already established in Chandigarh and Amritsar, this addition strengthens our portfolio and deepens our roots in a strong consumption-driven market.
Ludhiana, a key economic and cultural hub, offers tremendous potential for modern retail, and this acquisition aligns perfectly with our long-term vision to build a resilient, pan-India platform anchored in growth, sustainability, and consumer delight.”