Bengaluru Based RMZ to invest over $2.2 billion in Indian real estate over 5 years

The recent buzz in the real estate world is that alternate asset manager RMZ plans to invest around $2.2 billion (around Rs 18,000 crore) across different verticals, including office, hospitality and residential real estate, over the next five years, across the country covering for both greenfield developments and acquisitions across asset classes.

RMZ currently has approximately 17-18 million square feet of office space under construction, with plans to acquire an additional 10-15 million square feet in the offices segment by the end of 2025, primarily focusing on the six major real estate markets of Bengaluru, its home city, Chennai, Hyderabad, Mumbai-MMR, Delhi-NCR and Pune.

The CEO of the Company Thirumal Govindraj told a leading news portal that - "The company is open to joint ventures, outright purchases and partnerships with fund investors for these acquisitions. RMZ recently delivered the first phase of its development in the Bengaluru pipeline at RMZ Ecoworld and plans to deliver another two phases by 2025 and 2026. The entire development pipeline of 17-18 million square feet is expected to be delivered between now and 2028, with various stages of completion throughout this period. Any new acquisitions made next year would have a development cycle of 36-40 months from the time of acquisition.”

Talking about greenfield projects, the company may announce a couple of new projects in the first quarter of the next calendar year.

Source: Moneycontrol