RMZ Corp

Realty firm Signature Global has formed an equal joint venture with RMZ Group to develop a mixed-use project in Gurugram, with the Bengaluru-based firm investing Rs 1,283 crore. In a regulatory filing, Signature Global said it has formed a joint venture with RMZ to develop a mixed-use project, comprising office buildings, hotels, and retail spaces on the Southern Peripheral Road (SPR) in Gurugram. Under the agreement, Signature Global and RMZ will form a 50:50 joint venture. RMZ has committed an investment of Rs 1,283 crore to acquire a 50 per cent equity stake in the project, the filing said. As part of the transaction, Gurugram Commercity Ltd (GCL), a wholly-owned subsidiary of Signature Global, and Millennia Realtors, an RMZ entity, have entered into a Securities Subscription and Purchase Agreement (SSPA). Under the SSPA, RMZ will acquire a 50 per cent equity stake in GCL through a combination of share purchase and share subscription, for an aggregate consideration of up to Rs

The project may become one of Asia's largest office spaces

RMZ has been operating in the office space for nearly two decades, along with involvement in retail and residential segments

RMZ owns and operates a real asset portfolio of 67 million square feet, and are poised to grow to 350 million square feet of assets by 2032

Bengaluru-based realty firm RMZ Corp has appointed Avnish Singh as Managing Director, Investment Management. RMZ Corp is a privately-owned real estate owner, investor, and developer. Singh will be instrumental in driving RMZ's growth, across India. His role will include new project acquisitions and capital raising to fuel the firm's hyper-growth strategy while forging new global partnerships and strengthening the current relationships. A founding member of JLL with over 20 years of experience, Singh has worked at Tishman Speyer and GE Capital Real Estate, the company said in a statement. He is an alumnus of Harvard Business School, ICFAI, Fergusson College, and Gokhale Institute of Politics & Economics. RMZ Corp aims to propel its current 67 million square feet of real assets, valued at USD 10 billion, to 87 million square feet which will be valued at USD 15 billion by 2026, the statement said.

RMZ Corp, one of Asia's largest privately-owned real estate owners & developers and Canada Pension Plan Investment Board ("CPP Investments") announced today that they have entered into a joint venture to develop and hold commercial office space in Chennai and Hyderabad.CPP Investments will invest Rs 15,000,000,000 (USD 210 million), which will allow for the expected development of 10.4 million square feet of high-quality commercial office sites."RMZ is widely recognized as one of the most innovative and prolific developers in Asia, dedicated to working to the highest standards across all aspects of the real estate equation. The partnership with CPP Investments, a globally respected institutional investor, will only strengthen our vision of achieving our hyper-growth strategy target of RMZ 2.0," said Manoj Menda, Corporate Chairman, RMZ Corp. "The value of the partnership assets, once developed, is estimated to be over USD 1.5 billion"."RMZ is amongst the only zero-debt real ...

The Menda family sold a commercial property portfolio of 12 million square feet (msf) to Canada-based Brook­field Asset Manag­ement last year for Rs 14,000 crore

Canada pension fund manager plans to infuse Rs 2,500 cr into the venture

According to Raj Menda, chairman of RMZ, the deal would be higher than what was originally planned and involves more cities than just Chennai and Bengaluru

Brookfield will reportedly acquire some assets of RMZ in Bengaluru, Chennai, Mumbai and other cities, added sources

Deal size expected to be in the Rs 2,000-25,000 crore range

According to the Hurun India list, the brothers improved to a joint nine this year, as compared to their ranks of 16 and 17 last year

RMZ has quoted around Rs 8.15 billion (Rs 0.58 billion per acre) for the land parcel in Hebbal area of Bengaluru

QIA and Baring hold 24 per cent and 21 per cent, respectively, in the office space developer

Preparation are at a preliminary stage and we are in the process of appointing bankers