RMZ Corp and CPP Investments announce commercial real estate development joint venture in India
“RMZ is widely recognized as one of the most innovative and productive developers in Asia, is committed to maintaining the highest standards in all aspects of the real estate equation. The partnership with CPP Investments, a globally respected institutional investor, will only strengthen our vision to achieve our goal of a hypergrowth strategy of RMZ 2.0. “- Hands Menda, Corporate Chairman, RMZ Corp. “The value of the partnership’s fortune, once developed, is estimated to be over $ 1.5 billion“.
“RMZ is one of the only debt-free real estate companies in the world. With equity trades for assets over the past few months, we have plenty of headroom to move into our next phase of growth.” – – Arshdeep Sethi, Managing Director, RMZ Corp.
The three locations that make up this transaction – RMZ Nexity (Hyderabad), RMZ Spire (Hyderabad) and RMZ One Paramount (Chennai) – are Grade A developments and when completed will be examples of the highest quality commercial space in cities. Of the 10.4 million square feet included in the transaction, 7.5 million square feet are already under active development. The construction of the remaining area is to begin in the coming months.
“With India remaining a strong source of global talent, the demand for the collaborative and engaged workplace is expected to grow,” he said Krishna day, Managing director, real estate – India, CPP investments. “In collaboration with RMZ Corp, a pioneer in the commercial real estate industry, this joint venture is well positioned to meet the growing demand for high quality, sustainable office properties Chennai and Hyderabad. “
About RMZ Corp.
RMZ Corp is one of Asia largest private property owners, investors and developers committed to building socially, economically and environmentally responsible assets and communities. They are among the only real estate companies in the world with no debt. Their deeply unified goal is to use their integrated digital platform to build smart, engaged, and quantified communities. For 18 years and growing rapidly, they have over 200 corporate clients in 6 Indian cities covering 67 million square feet and $ 10 billion of assets owned and developed by them. With a hyper-growth strategy and the use of exponential technologies, they plan to build a quantified community of 1 million members over 800 corporate customers on more than 87 million square feet of real assets and achieve the RMZ 2.0 vision.
For more information, visit http://www.rmzcorp.com or follow us on LinkedIn, Instagram, Facebook or Twitter.
About the Canada Pension Plan Investment Board (CPPIB)
The Canada Pension Plan Investment Board (CPP Investments ™) is a professional investment management organization that manages the fund in the best interests of the more than 20 million contributors and beneficiaries of the Canada Pension Plan. To build a diversified portfolio of assets, investments are made in public stocks, private stocks, real estate, infrastructure and fixed income securities around the world. Headquarters in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and SydneyCPP Investments is administered and administered by governments independently of the Canadian Pension Plan and on arm’s length basis. At the December 31, 2020, the fund added up $ 475.7 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Facebook or Twitter.
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SOURCE RMZ Corp.