real estate

RMZ Corporation plans to double its real estate business to $40 billion by 2029, ET RealEstate

NEW DELHI: RMZ Corporation is undergoing a major transformation. The company plans to double its rent-yielding real estate business to $40 billion by 2029. It will channelize investments into office, mixed-use, industrial & logistics, RMZ Living and the hospitality sector.

RMZ Corporation is governed by a supervisory board, whose members serve in an ownership capacity, comprising the Menda brothers – Raj and Manoj, and the family’s second generation– Sidharth and Mihir. An executive board, comprising non-family senior leaders from diverse industry backgrounds, oversees each of the firm’s businesses.

The company also announced the appointment of Arshdeep Sethi as president of RMZ Real Estate, Thirumal Govindraj as CEO of RMZ Office, Avnish Singh as CEO of RMZ Mixed Use, Saandip Kundu as CEO of RMZ Living and Avinash Sule as CEO of RMZ Industrial & Logistics and RMZ Hospitality.

“We are committed to annually adding rent-yielding real estate around US$ 5 billion to our portfolio, alongside annualized sales of US$ 0.6 billion in luxury residential in 2029. Furthermore, one-fifth of our capital allocation strategy is dedicated to acquiring and developing premium real estate in key gateway markets worldwide, such as London and New York,” said Sethi.

RMZ Corporation aims to create assets worth US$25 billion over next five year. In this, RMZ Office plans to achieve US$ 10 billion by 2029 with a 50 million sq ft portfolio, RMZ Mixed Use looks to achieve US$ 8 Billion with 15 million sq ft portfolio, RMZ Industrial & Logistics look to touch US$ 3 billion with 62 million sq ft portfolio and RMZ Living hopes to touch US$ 0.6 billion in annualized sales by 2029.

  • Published On Nov 22, 2023 at 06:30 PM IST

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