Virtuous Retail South Asia Pte. Ltd (VRSA), the retail development joint venture between alternative investment firm The Xander Group Inc. and Dutch pension fund APG, has acquired two existing malls and an upcoming retail development project for around $500 million, said Siddharth Yog, its founder and chairman.
“We see greater opportunity in difficult times. In the retail business, we are expanding significantly. We have made three more acquisitions—two existing malls and one new development,” Yog said in an interview, adding that it was part of the company’s ongoing expansion plan for India.
