RMZ-CPPIB to Develop $750 Million Office Complex in Mumbai.

RMZ, in collaboration with the Canada Pension Plan Investment Board (CPPIB), is developing a 3.74 million sq ft office complex in Mumbai with an investment of $750 million, the company announced.

The first phase of the project, covering approximately 1.75 million sq ft, is expected to be completed by 2027, with the full office complex slated for completion by 2030.

Located on the Jogeshwari-Vikhroli Link Road, which connects Mumbai’s western and eastern express highways, the office complex, named RMZ Nexus, will be one of Asia’s largest office developments. It will feature six towers and occupy a 10.94-acre site.

This marks RMZ’s debut in the Mumbai real estate market. Sources report strong interest from potential tenants, with pre-lease agreements expected to be finalized soon. The project has been designed by Skidmore, Owings & Merrill (SOM), the renowned architects behind the Burj Khalifa.

"RMZ Nexus is not just a contribution to Mumbai’s skyline, but a strategic investment in India’s growth trajectory," said Thirumal Govindraj, CEO of RMZ Office & RMZ NXT. "We are poised to expand further across Mumbai and other strategic markets, shaping the future of real estate and contributing to India’s economic growth."

RMZ, based in Bengaluru, has built office spaces across cities like Hyderabad, Chennai, Pune, and Gurgaon. With a portfolio of 21 million sq ft currently under development, the company plans to add another 30 million sq ft in the next 2-3 years, targeting 50 million sq ft across six cities.

Recently, RMZ and CPPIB divested their stake in One Paramount office park in Chennai for $264 million and entered a joint venture with Colt Data Centre Services to invest $1.7 billion in setting up data centers in India.

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