Nexus Select Trust to enter Northeast with ₹1,600 crore Guwahati mall-hotel deal
Nexus Select Trust will acquire a 100% stake in Guwahati’s under-construction Galaxy Complex, comprising a 0.5 million sq ft Grade-A mall and 164-key Hyatt Regency. The transaction advances its East India expansion strategy, subject to construction completion and regulatory approvals.
What happened
Nexus Select Trust will acquire the under-construction Galaxy Complex in Guwahati for ₹1,600 crore, entering Northeast India with a 0.5 million sq ft mall and
Key facts
- ₹1,600 crore purchase consideration
- 100% stake acquisition
- 0.5 million sq ft Grade-A mall
- 164-key Hyatt Regency hotel
- 8.25-8.50% mall acquisition cap rate
- 11.5-12.5x hotel EBITDA multiple
- ~40% debt funding
- Post-acquisition LTV below 20%
- $1 billion pro forma debt headroom
- 6 East India pipeline assets totalling ~3.6 million sq ft
- East India NOI ambition above ₹600 crore
Why this matters
The deal illustrates a market-entry M&A route into Northeast India, with Nexus acquiring full control of an under-construction mixed-use asset rather than building a regional presence from scratch.
What to watch
- Formal closing announcement and regulatory-clearance status.
- Construction-completion date, occupancy certificate and phased-opening timetable.
- Pre-leasing percentage, anchor tenant announcements and average committed rent.
- Hyatt Regency opening schedule and any changes to the hotel branding or operating agreement.
- Evidence of new national brands entering Guwahati or relocating from incumbent malls/high streets.
- Competitive responses from existing Guwahati retail properties, including rent concessions, renovations and new entertainment or F&B additions.
- Early operating metrics after launch: footfall, tenant sales, occupancy, trading density and hotel RevPAR.
- Secure regulatory approvals, construction-completion milestones and hotel-management transition arrangements.
- Build a Northeast-specific leasing plan focused on fashion, beauty, electronics, entertainment, F&B and regional brands with national expansion ambitions.
- Use the Hyatt Regency and mall combination to package corporate events, tourism, premium dining and seasonal traffic into higher footfall and tenant sales.
- Assess regional catchment connectivity, parking, public transport and last-mile access, as these will determine whether the complex captures demand beyond Guwahati.
- Pursue tenant data, loyalty programs and omnichannel partnerships that can make the mall a launchpad for retailers entering Assam and neighboring Northeast states.