RMZ raises Rs 1,500 crore from Canada Pension Plan Investment Board

Real estate builder RMZ Corp has raised ₹1,500 crore from Canada Pension Plan Investment Board (CPP Investments) to develop commercial projects in the southern market.

The equal joint venture will see both the partners develop and hold commercial office space in Chennai and Hyderabad totalling 10.4 million sq ft.

“The partnership with CPP Investments will only strengthen our vision of achieving our hyper-growth strategy target of RMZ 2.0. The value of the partnership assets, once developed, is estimated to be over $1.5 billion,” said Manoj Menda, corporate chairman, RMZ Corp.


The three sites that form the transaction include RMZ Nexity (Hyderabad), RMZ Spire (Hyderabad) and RMZ One Paramount (Chennai).

“As India continues to be a strong source of global talent, demand for collaborative and engaging work space is expected to grow. This joint venture is well placed to meet the growing demand for high-quality sustainable office assets in Chennai and Hyderabad,” said Hari Krishna, managing director, real estate-India, at CPP Investments.