Publications

RMZ Corp and CPP Investments for development JV in India
Investors - APRIL 12, 2021

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

RMZ Corp and CPP Investments for development JV in India

by Andrea Zander

RMZ Corp, one of the largest privately owned real estate developers in India, and Canada Pension Plan Investment Board (CPP Investments) have entered into a joint venture to develop and hold commercial office space in Chennai and Hyderabad, India.

CPP Investments will invest $210 million, which will allow for the expected development of 10.4 million square feet of high-quality commercial office sites. The value of the partnership assets, once developed, is estimated to be more than $1.5 billion.

The three sites that form this transaction — RMZ Nexity (Hyderabad), RMZ Spire (Hyderabad) and RMZ One Paramount (Chennai) — are class A developments and will be examples of the highest-quality commercial space within the cities once completed. Of the 10.4 million square feet included in the transaction, 7.5 million square feet is already under active development, with construction of the remaining space due to commence in the coming months.

“As India continues to

Forgot your username or password?