RMZ is setting up a 3.74 million sq ft office complex in Mumbai, in partnership with Canada Pension Plan Investment Board, at an investment of $750 million, the company said.

The first phase of the project with around 1.75 million sq ft is expected to be ready by 2027 and the entire office complex is expected to be completed by 2030, sources said.

RMZ Nexus complex

Situated on the arterial Jogeshwari-Vikhroli Link Road, that connects the western and eastern express highways in the city, the office complex called RMZ Nexus is touted to be one of Asia’s largest office spaces, spread across six towers and sitting on a 10.94 acre land site, the company said.

This project marks RMZ’s entry into the Mumbai market. Sources said that enquiries for taking up office space are already pouring in, and pre-lease agreements are expected to be signed soon. The project has been designed by SOM, the architect to the Burj Khalifa.

“RMZ Nexus is not just a contribution to Mumbai’s skyline, but a strategic investment in India’s growth trajectory. We are poised to further expand our portfolio across Mumbai and other strategic markets, shaping the future of real estate and contributing to India’s continued economic ascendance,” said Thirumal Govindraj, CEO, RMZ Office & RMZ NXT.

Bengaluru-based RMZ has built several office spaces in its home city, Hyderabad, Chennai, Pune and Gurgaon. It has an office portfolio of 21 million sq ft in various stages of construction and plans to add another 30 msf in the next 2-3 years, with the plan to reach 50 msf across six cities.

 In August, it and CPPIB divested stake in One Paramount office park in Chennai to Keppel for $264 million.

In September, the company announced a lease agreement with Chevron Engine, which took 3 lakh sqft space to set up a Global Capability Centre in RMZ Ecoworld in Bengaluru. Last month it announced a joint venture with Colt Data Centre Services to invest $1.7 billion to set up data centres in India.

Published on December 12, 2024