by THO
Bengaluru-based RMZ and Canada Pension Plan Investment Board (CPPIB) will invest $750 million to redevelop one of Mumbai’s iconic Bollywood studios into a 10.94-acre office project.
This project RMZ Nexus, formerly housing Kamal Amrohi studio, is situated on Jogeshwari-Vikhroli Link Road, linking the western and eastern express highways. The building spans 3.74 million square feet and is set to be completed by 2027.
“Spanning across 3.74 million square feet, the building is spread across six towers on a 10.94-acre site. The project will be developed in partnership with Canada Pension Plan Investment Board at an investment of $750 million and is set to be completed by 2027,” the company said in a statement on December 12.
The company said the project will facilitate a direct metro-integrated development strategically connecting the city’s west and east corridors while offering seamless access to South Mumbai.
About the project
The office park will also have concept retail stores, gourmet dining options, informal marketplaces, sky bars, social clubs, and a wellness zone.
“RMZ Nexus is as a testament to our conviction in Mumbai’s dynamic future and India’s burgeoning economy. The development is not just a contribution to Mumbai’s skyline, but a strategic investment in India’s growth trajectory. 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,” Thirumal Govindraj, CEO, RMZ Office and RMZ NXT said.
The company said that the Indian real estate sector has witnessed a stronger-than-expected office leasing activity in 2024 with Mumbai, Delhi – NCR, Hyderabad and Bengaluru leading the demand growth for prime office spaces.
RMZ has delivered 75 million sq ft of premium construction. The company’s office portfolio currently has over 98% occupancy rate, with more 800 enterprise tenants, including top global companies like UPS Technologies, Haleon, Planview, Booking Holdings, DOW Chemical, Nielsen IQ, and HSBC Software.
Also Read: Bengaluru-based RMZ Corporation exploring real estate expansion opportunities in the US, EU and UK
In September, RMZ leased out 3.6-lakh square feet of office space to Chevron Global Technology & Services Private Limited in its RMZ Ecoworld 30-series campus in Bengaluru.
