Developer-operator of lifestyle shopping malls Virtuous Retail South Asia (VRSA) today said it has acquired 2 million sqft North Country mall in Punjab from Sun Apollo-Gumberg for Rs 700 crore. With this acquisition, VRSA establishes its presence in north India, adding to its existing portfolio of community-centric centres VR Surat and VR Bangalore, the company said in a statement issued here. The acquisition for Rs 700 crore also includes paying down debt, it said. VRSA's India retail portfolio now stands at 5.5 million sqft. Commenting on the deal, its executive managing director Rohit George said, "this acquisition immediately adds one million sqft of high quality retail space to our existing leasable portfolio.

Source: dna May 02, 2017 14:15 UTC