RMZ Corporation is all set to develop 125 mn sq ft Land worth $25 bn

Famous real estate developer of Bangalore, RMZ Corporation is planning to invest $7 billion in equity over the next five years to develop over 125 million square feet of space in different projects worth $25 billion across major cities including Mumbai, Bengaluru, Delhi, and Hyderabad.

The company is owned by Raj Menda and Manoj Menda, which has been engaged in the development of Grade-A office complexes, has now decided to diversify into other segments of real estate, including luxury living, mixed-use, office spaces, industrial and logistics, and hospitality. According to the report, the investment will be made in projects across uber-luxury housing, office spaces, hospitality, industrial and logistics, and mixed-use projects. 

The company has appointed Arshdeep Sethi as President of RMZ Real Estate to spearhead its growth plan. According to him, “We will invest $7 billion in equity to develop roughly over 125 million square feet of space across hospitality, ultra-luxury residential, office space, industrial and logistics, and mixed-use projects worth $25 billion in the next five years."

He further added that the investment will be funded through internal accruals and by setting up an investment platform with global institutional investors. He also said that, half of the equity investment will be dedicated to the mixed-use and office segments and the remaining to the other three segments: residential, hospitality, industrial and logistics.

When asked about the detail plan, Sethi said that they are planning to construct over five ultra-luxury residential projects by 2028-29 with an investment of close to $0.6 billion in Mumbai, Gurugram, and Delhi. They are investing in land for this construction in Gurugram. The company will also launch 10 business and leisure hotels. Business hotels will be launched in cities like Mumbai, Delhi, Bengaluru, and Chennai, while leisure hotels will be developed in Goa and Rajasthan. These hospitality projects would be worth $3.1 billion.

Chairs of the Supervisory Board of RMZ Corporation, Raj and Manoj Menda, said, “This strategic transformation underscores the family’s unwavering commitment to growth and expansion within alternate investment classes. We are deeply focused on investing in high-growth opportunities across geographies that lay the foundations for a sustainable global economy,”