RMZ Corporation, in partnership with the Canada Pension Plan Investment Board (CPPIB), is embarking on the development of a landmark commercial project, RMZ Nexus, located on the Jogeshwari-Vikhroli Link Road in Mumbai. The project, representing an investment of $750 million, is set to significantly impact the city’s commercial real estate market. Spanning a massive 3.74 million square feet, RMZ Nexus will feature six state-of-the-art office towers, spread across a sprawling 10.94-acre site.
The development is scheduled to be completed by 2027 and aims to cater to the growing demand for high-quality office space in Mumbai, one of India’s most dynamic business hubs. This ambitious venture is the latest milestone in the ongoing partnership between RMZ and CPPIB, which has seen both entities join forces in multiple high-profile real estate projects across India. RMZ Nexus is expected to set new standards for modern office spaces, offering cutting-edge infrastructure and amenities to meet the needs of multinational corporations and other large-scale businesses. The RMZ-CPPIB collaboration has already made a significant impact on the Indian real estate landscape, with a combined portfolio that includes over 12.5 million square feet of commercial properties across five major Indian cities, including Mumbai, Delhi, Bengaluru, Chennai, and Pune. This portfolio includes both completed projects as well as those under development, making it one of the most prominent and diverse commercial real estate partnerships in India.
In August 2024, RMZ and CPPIB also completed the sale of One Paramount 1, a prime office property in Chennai, to Singapore-based Keppel for $264 million. This sale further reflects the strength of the partnership, as both RMZ and CPPIB continue to grow their real estate holdings and expand their influence in India’s commercial property market. The development of RMZ Nexus will undoubtedly enhance this legacy, cementing their position as major players in India’s real estate sector.
