Canada's CPPIB to invest Rs 2,650 crore in JV with realty firm RMZ Corp

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

The Canada Pension Plan Investment Board (CPPIB) will invest Rs 2,650 crore in a joint venture with Bengaluru-based realty firm RMZ Corp to develop and acquire commercial projects across India.

RMZ Corp and CPPIB announced that they have entered into their second joint venture to develop and hold commercial office space in key cities across India.

"The total aggregate capital commitment by CPP Investments into the joint venture will be up to Rs 26.5 billion (C$ 449 million), to support the development and acquisition of projects across India," RMZ said in a statement.

Manoj Menda, Corporate Chairman, RMZ Corp said this joint venture