The Canada Pension Plan Investment Board (CPPIB) and RMZ, an alternative assets owner, have partnered to invest $750 million in a workplace development project named RMZ Nexus in Jogeshwari, Mumbai. The project will span an area of 3.74 million square feet, with the building spread across six towers on a 10.94-acre site.
According to Thirumal Govindraj, Chief Executive Officer (CEO) of RMZ Office and RMZ NXT, “RMZ Nexus is a testament to our conviction in Mumbai’s dynamic future and India’s burgeoning economy. 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.”
The project is estimated to be completed by 2027 and is set to become one of Asia’s largest office spaces. Govindraj informed that the company is looking at another six to seven large projects across Mumbai, with announcements expected in the first quarter of 2025.
Govindraj noted that 80% of the company’s portfolio across Bengaluru, Hyderabad, and Chennai is occupied by brand new global capability centres (GCCs). “What is interesting is it’s not only financial services that are growing; it is also sectors like healthcare and insurance that are becoming large players in some cities.”
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