+
Canada Pension Plan Investments to fund RMZ’s office space development
Real Estate

Canada Pension Plan Investments to fund RMZ’s office space development

Real estate investment, development and management firm RMZ Corp and Canada Pension Plan Investments (CPP Investments) have entered a pact to develop and hold commercial office space in Hyderabad and Chennai.

CPP Investments will invest Rs 15,000 crore for an expected development of 10.4 million sq ft of commercial office sites in Hyderabad and Chennai.

The three sites that will be a part of this transaction—RMZ One Paramount (Chennai), RMZ Nexity (Hyderabad) and RMZ Spire (Hyderabad) are Grade-A developments. Out of the 10.4 million sq ft included in the transaction, 7.5 million sq ft is already under active development, with the construction of the remaining space due to commence in the coming months.

RMZ is a privately-owned developer, manager, and investor of real assets. The company has over 250 enterprise customers in six Indian cities and 85 million sq ft of real assets under ownership.

CPP Investments is a global investment management organisation that invests the assets of the Canada Pension Plan. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York, San Francisco, Sao Paulo and Sydney, the company is governed and managed independently of the Canada Pension Plan and at arm's length from governments.

Image Source


Also read: RMZ divestment marks largest deal ever in real estate

Real estate investment, development and management firm RMZ Corp and Canada Pension Plan Investments (CPP Investments) have entered a pact to develop and hold commercial office space in Hyderabad and Chennai. CPP Investments will invest Rs 15,000 crore for an expected development of 10.4 million sq ft of commercial office sites in Hyderabad and Chennai. The three sites that will be a part of this transaction—RMZ One Paramount (Chennai), RMZ Nexity (Hyderabad) and RMZ Spire (Hyderabad) are Grade-A developments. Out of the 10.4 million sq ft included in the transaction, 7.5 million sq ft is already under active development, with the construction of the remaining space due to commence in the coming months. RMZ is a privately-owned developer, manager, and investor of real assets. The company has over 250 enterprise customers in six Indian cities and 85 million sq ft of real assets under ownership. CPP Investments is a global investment management organisation that invests the assets of the Canada Pension Plan. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York, San Francisco, Sao Paulo and Sydney, the company is governed and managed independently of the Canada Pension Plan and at arm's length from governments. Image Source Also read: RMZ divestment marks largest deal ever in real estate

Next Story
Infrastructure Transport

Syama Prasad Mookerjee Port Partners to Redevelop Nimtala Ghat

Kolkata: Syama Prasad Mookerjee Port, Kolkata (SMPK), signed a Memorandum of Understanding (MoU) on Tuesday with PS Group Realty Private Limited to redevelop and beautify Nimtala Ghat as part of PS Group’s Corporate Social Responsibility (CSR) initiative.The agreement was formalised at SMPK’s Head Office at 15, Strand Road, in the presence of SMPK chairman Rathendra Raman, deputy chairman Samrat Rahi, PS Group directors Saurav Dugar, Gaurav Dugar, Arun Sancheti, and senior SMPK officials.Under the MoU, PS Group will undertake the full redevelopment and permitted construction of Nimtala Imm..

Next Story
Infrastructure Urban

CSIR-NCL and Covestro Collaborate to Upcycle Polyurethane Waste

In a move towards sustainable plastic waste management, Pune-based CSIR-National Chemical Laboratory (CSIR-NCL) signed a Memorandum of Understanding (MoU) with Covestro (India) Private Limited on Wednesday to develop innovative upcycling technologies for polyurethane waste.Polyurethane is notoriously difficult to recycle, with current methods often proving inefficient, costly, and environmentally harmful. This collaboration aims to address existing challenges, including high energy usage and deterioration of material quality during recycling.Ashish Lele, director of CSIR-NCL, stated, “This p..

Next Story
Infrastructure Urban

Torrent Pharma Seeks CCI Approval for Rs 195 Billion JB Chemicals Deal

Ahmedabad-based Torrent Pharmaceuticals has sought clearance from the Competition Commission of India (CCI) to acquire a majority stake in J B Chemicals and Pharmaceuticals in a Rs 195 billion deal.Upon completion, Torrent Pharmaceuticals will become India’s second most valuable pharmaceutical company.The move follows Torrent’s June announcement to acquire a majority stake in J B Chemicals for Rs 195 billion.“The proposed combination pertains to the acquisition of shareholding by Torrent Pharmaceuticals Ltd in J B Chemicals & Pharmaceuticals Ltd, followed by the merger of the target ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?