RMZ to Invest Over $2.2 Billion in Indian Real Estate Over the Next Five Years
RMZ Corp, a Bengaluru-based real estate developer, has announced plans to invest over $2.2 billion (approximately Rs 18,000 crore) in India's real estate market over the next five years. This investment will cover a wide range of sectors, including office spaces, hospitality, and residential developments. The company has been steadily expanding its presence across key cities, with a particular focus on developing high-quality office spaces, while also exploring greenfield developments and acquisitions.
The company has made significant strides in extending its reach beyond its traditional base. Over the past few years, RMZ has entered the real estate markets in Mumbai and Pune, with several major projects already underway. It is currently constructing 3 million square feet of office space in Pune and almost 4 million square feet in Mumbai. This expansion highlights RMZ's commitment to growing its portfolio and solidifying its presence in key metropolitan areas across India.
In terms of its broader real estate strategy, RMZ is actively working on 17-18 million square feet of office space, which is currently under construction. The company has ambitious plans to acquire an additional 10-15 million square feet of office space by 2025. These acquisitions will be focused on India's six largest real estate markets, including Bengaluru, Chennai, Hyderabad, Mumbai-MMR, Delhi-NCR, and Pune.
RMZ’s growth strategy includes both greenfield projects and acquisitions. The company is likely to announce new greenfield developments in early 2025. These projects will be built from the ground up, catering to the increasing demand for high-quality real estate in India's rapidly urbanizing cities. At the same time, RMZ remains open to joint ventures, outright purchases, and partnerships with fund investors to support its acquisitions. This flexible approach allows the company to adapt to market conditions and explore a range of growth opportunities.
One of the company's flagship projects, RMZ Ecoworld in Bengaluru, has already seen significant progress. RMZ has recently delivered the first phase of this development and plans to complete two additional phases by 2025 and 2026. The company expects to deliver its entire current development pipeline of 17-18 million square feet by 2028, with various stages of completion along the way. Any new acquisitions made next year will have a development cycle of 36-40 months, meaning these projects would be delivered within three to four years of acquisition.
Looking beyond the Indian market, RMZ is also exploring potential expansion opportunities in international markets such as the United States and the United Kingdom. While these offshore ventures are still in the early stages of planning, the company is keen to explore new opportunities that align with its expertise in commercial and residential real estate development.
