Nexus Select replaces hypermarket space with premium brands, advances Diamond Plaza deal
Nexus Select Trust is reallocating underperforming hypermarket space to premium watches, beauty, jewellery, eyewear and accessories brands. The mall REIT reported 17% consumption growth, 11% NOI growth and 96% occupancy, while expecting its Diamond Plaza acquisition to close within a month.
Nexus Select Trust is replacing underperforming hypermarket space with premium watches, beauty, jewellery, eyewear and accessories brands. The mall REIT reported strong quarterly consumption and occupancy, while pursuing the Diamond Plaza deal and additional acquisitions.
Why this matters
The space reallocation follows Nexus Select Trust’s reported Q1 NOI rise of 11% and consumption growth of 17%, while supporting its plan to pursue eight retail asset acquisitions and expand into eastern India.
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