U.K., April 13 -- RMZ Corp and Canada Pension Plan Investment Board (CPP Investments) have entered into a joint venture to develop and hold commercial office space in Chennai and Hyderabad.
CPP Investments will invest INR 15,000,000,000 (US$210 million), which will allow for the expected development of 10.4 million square feet of commercial office sites.
The three Grade-A sites comprise RMZ Nexity (Hyderabad), RMZ Spire (Hyderabad) and RMZ One Paramount (Chennai, pictured). Of the 10.4 million square feet planned, 7.5 million square feet is already under active development with construction of the remaining space due to start shortly.
Manoj Menda, Corporate Chairman, RMZ Corp, said the value of the partnership assets, once developed, is ...