News: RMZ Plans $35 Billion Investment, Weighs IPO-13-04-2026

RMZ Corp will invest more than $35 billion over the next five years in data centres, artificial intelligence factories, mixed-use commercial office projects and housing, the real estate firm said in a statement on April 13. The expansion will be financed through debt and equity, and the company is evaluating an initial public offering (IPO) to secure long-term, permanent capital.

Nearly half the outlay is meant for digital infrastructure. With Colt Technology Services, which is backed by the family office of Abigail Johnson, RMZ is building co-location data centres in Navi Mumbai, Chennai, Visakhapatnam, Hyderabad and Bengaluru. Near-term additions include 750 megawatts in Navi Mumbai and close to 500 megawatts in Visakhapatnam, with a long-term national goal of 1.5 gigawatts. This segment will receive $12-15 billion.

The statement said India generates about 20 percent of the world’s data but holds only 2 percent of global data centre capacity, with installed capacity of 1.1 to 1.2 gigawatts against projected demand of 5 to 7 gigawatts over five years. RMZ has set up a separate entity for AI factory capabilities, offering GPU as a service to cloud providers and AI companies.

In offices, RMZ operates in Bengaluru, Hyderabad, Gurgaon, Mumbai, Pune and Chennai and is targeting around 20% of the country’s annual absorption. It is also investing in experiential retail, luxury hospitality, industrial and logistics assets and Signature Offices, its office-for-ownership product.

Manoj Menda, co-founder and chairman, Supervisory Board of RMZ, said the company needs permanent capital and that public markets are the only way to get it, after years of partnerships with sovereign pension funds and strategic investors. With $20 billion in gross assets across six cities, its partners include Qatar Investment Authority, CPP Investments, Brookfield, Mitsui Fudosan, Prologis via RMZ NXT, and Colt DCS.

Earlier, RMZ formed a 50:50 joint venture with Signature Global’s subsidiary Gurugram Commercity Ltd (GCL) for an 18-acre commercial project on Southern Peripheral Road (SPR), Gurugram, with investment of around Rs 7,500 crore. It has a leasable area of 55 lakh square feet, of which about 35 million sq ft would be prime office space, the rest being retail and two hotels of around 500 rooms each.