RMZ and CPPIB to Invest $750 Million in Transforming Mumbai’s 11-Acre Site into Office Complex
Bengaluru-based RMZ and the Canada Pension Plan Investment Board (CPPIB) have announced a significant investment of $750 million to transform a prominent Bollywood studio in Mumbai into a major office complex. The project, named RMZ Nexus, will be developed on the site of the former Kamal Amrohi studio, located along the Jogeshwari-Vikhroli Link Road, a key thoroughfare connecting the western and eastern express highways of the city.
Bengaluru-based RMZ and the Canada Pension Plan Investment Board (CPPIB) have announced a significant investment of $750 million to transform a prominent Bollywood studio in Mumbai into a major office complex. The project, named RMZ Nexus, will be developed on the site of the former Kamal Amrohi studio, located along the Jogeshwari-Vikhroli Link Road, a key thoroughfare connecting the western and eastern express highways of the city.
Spanning across 10.94 acres, RMZ Nexus will consist of six towers, totaling 3.74 million square feet of office space. Set to be completed by 2027, the office park is designed to meet the growing demand for premium office space in Mumbai. The development will also offer a range of additional amenities, including concept retail stores, gourmet dining options, informal marketplaces, sky bars, social clubs, and a wellness zone, making it a comprehensive business and lifestyle destination.
In a statement, Thirumal Govindraj, CEO of RMZ Office and RMZ NXT, expressed confidence in Mumbai’s future and India’s economic growth, calling RMZ Nexus a testament to the company’s commitment to contributing to Mumbai’s skyline and India’s economic trajectory. “The development is not just a contribution to Mumbai’s skyline, but a strategic investment in India’s growth,” he said.
The project will also feature a metro-integrated development, facilitating seamless connectivity between the city’s western and eastern corridors and offering direct access to South Mumbai. This connectivity is expected to boost the project’s appeal among companies looking for well-connected office spaces.
The Indian real estate market, particularly in cities like Mumbai, Delhi-NCR, Hyderabad, and Bengaluru, has seen stronger-than-expected demand for office spaces in 2024. RMZ, known for its focus on high-quality office developments, has delivered 75 million square feet of premium construction, maintaining a nearly full occupancy rate across its office portfolio, which includes tenants such as UPS Technologies, Haleon, Planview, and HSBC Software.
The RMZ Nexus project marks a major milestone in the evolution of Mumbai’s commercial real estate landscape, combining modern office spaces with lifestyle amenities to create a future-forward business hub.
Sources By Agencies
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