RMZ, one of the largest family-owned alternative asset owners, aims to build a diverse portfolio across sectors such as hospitality, healthcare, data centres, warehousing, and residential real estate, while also exploring opportunities in the renewable energy sector.
The company plans to bring in partners and investors to support its growth across various businesses. RMZ will co-invest alongside these investors, according to Sidharth Menda, a member of the supervisory board at RMZ and son of chairman Raj Menda. “We help establish each of these businesses and eventually bring in a CEO to manage them,” he explained. RMZ is also exploring new investment opportunities with existing partners, including Canada’s CPPIB and Japan’s Mitsui Fudosan. “Investors will not only contribute to the office sector but also other areas. We also have partners who will invest across the board,” he added.
In 2020, RMZ sold 12.8 million square feet of commercial properties, including the co-working company Cowrks, to Brookfield Asset Management for $2 billion. Menda said that they plan to raise capital both at the project-specific level and for the group as a whole.
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RMZ is investing in multiple hotels across six cities, alongside investors and partners. The portfolio will feature over 2,000 keys in the 5-star deluxe category. The company will begin with Pune and expand to Bangalore, Chennai, Delhi NCR, and eventually Mumbai.
The philosophy behind bringing in strategic partners is to achieve synergies and de-risk the process,” said Mihir Menda, also a member of the supervisory board.
In healthcare, they have the intent to build about 2,500 hospital beds across 4 cities, including Bangalore, Mumbai, Pune and Chennai, Sidharth said.
In addition to investing in commercial office properties across six cities in India, RMZ is also venturing into the residential sector, starting in Mumbai under the brand RMZ Living. “We will be starting with two key projects in Mumbai and adding multiple projects,” he said
They will sell at Rs 70,000 per square foot and above in the premium segment and in the ultra-luxury segment it is around 125,000,
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