RMZ, CPPIB to Invest $750 Million to Redevelop Kamal Amrohi Studio into RMZ Nexus Office Space in Mumbai

Bengaluru-based real estate developer RMZ and the Canada Pension Plan Investment Board (CPPIB) are jointly investing $750 million in a redevelopment project that will transform the iconic Kamal Amrohi Studio in Mumbai into a modern office complex. The project, named RMZ Nexus, spans 10.94 acres and is strategically located on the Jogeshwari-Vikhroli Link Road (JVLR), which provides easy access to both Mumbai’s western and eastern express highways.

The RMZ Nexus office park is set to become an important addition to Mumbai’s commercial real estate market. The development will include six towers with a total built-up area of 3.74 million square feet. Scheduled for completion by 2027, the office park will be designed with cutting-edge facilities. Direct metro connectivity will link the office complex to Mumbai’s west and east corridors, making it easily accessible to South Mumbai and other key business hubs.

The project will not only provide premium office spaces but will also include several amenities aimed at enhancing the work-life experience of its tenants. Among these will be concept retail stores offering a high-end shopping experience, gourmet dining options serving diverse cuisines, social spaces that include sky bars and informal marketplaces, and wellness zones dedicated to fitness and relaxation.

The broader vision behind RMZ Nexus is to cater to the growing demand for premium office spaces in Mumbai. Thirumal Govindraj, CEO of RMZ Office and RMZ NXT, emphasized that the project is not just about adding a new structure to the city’s skyline but is a strategic investment in India’s growth trajectory. According to Govindraj, RMZ Nexus represents the company’s belief in Mumbai's dynamic future and the ongoing economic growth of India. He further mentioned that RMZ is committed to expanding its portfolio in Mumbai and other key markets, contributing to the shaping of India’s commercial real estate sector.

In 2024, the Indian commercial real estate market saw a rise in office leasing activity. Cities like Mumbai, Delhi-NCR, Hyderabad, and Bengaluru experienced high demand, with sectors such as banking, financial services, insurance, and technology leading the way. RMZ Nexus is positioned to meet this demand by offering state-of-the-art facilities to global and domestic companies. With a proven track record of success in the real estate sector, RMZ has delivered over 75 million square feet of premium construction. The company boasts a high occupancy rate of 98% across its office spaces, which house over 800 tenants, including renowned international brands such as UPS Technologies, Booking Holdings, HSBC Software, and Dow Chemical.

Beyond its work in India, RMZ has also been exploring international expansion. In September 2024, the company leased 3.6 lakh square feet of office space to Chevron Global Technology & Services Private Limited at its RMZ Ecoworld 30-series campus in Bengaluru. In addition, RMZ is assessing opportunities to expand its footprint in the US, EU, and UK markets.

The redevelopment of Kamal Amrohi Studio into RMZ Nexus will have a significant economic impact on Mumbai. The project is expected to generate employment opportunities during both the construction phase and once the office park is operational. It will also contribute to the city’s infrastructure development by offering a modern office complex that integrates metro connectivity, which is a growing need for contemporary businesses.

RMZ and CPPIB’s $750 million investment in RMZ Nexus highlights the importance of strategic investments in the future of India’s commercial real estate market. The development represents a step forward in meeting the increasing demand for premium office spaces in Mumbai and other key cities

The project is set to be completed by 2027, and its impact on Mumbai’s commercial real estate sector is expected to be significant.