RMZ to Invest Over $2.2 Billion in Indian Real Estate Over 5 Years
Alternate asset management RMZ wants to spend roughly $2.2 billion (around Rs 18,000 crore) across multiple verticals, including office, hospitality and residential real estate, over the next five years, its CEO Thirumal Govindraj told Moneycontrol. The investment includes acquisitions of various asset classes as well as greenfield initiatives.
With plans to acquire an additional 10-15 million square feet in the offices segment by the end of 2025, RMZ currently has approximately 17–18 million square feet of office space under construction. The company primarily targets its home city of Bengaluru, as well as Chennai, Hyderabad, Mumbai–MMR, Delhi–NCR, and Pune, the six major real estate markets.
“The business is available to collaborations with fund investors, outright purchases, and joint ventures for these acquisitions. In the Bengaluru pipeline, RMZ just completed the first phase of its development at RMZ Ecoworld. By 2025 and 2026, it expects to complete the next two phases. It is anticipated that the complete 17–18 million square foot development pipeline will be delivered between now and 2028, in phases of varying degrees of completion. Any new acquisitions made next year would have a development cycle of 36-40 months from the time of acquisition,” Govindraj said.
In terms of greenfield projects, the business might reveal a few in the first quarter of the upcoming year.
