RMZ Corporation Leases 3 Lakh Sq Ft to Chevron in Bengaluru

23 Sep 2024 CW Team

Realty firm RMZ Corporation has leased approximately 3 lakh square feet of commercial space to Chevron Global Technology & Services in Bengaluru. This partnership supports the establishment of the USD 1 billion Chevron Engineering and Innovation Excellence Center (ENGINE) at RMZ's 'RMZ Ecoworld 30-series'.

Key Details:

Lease Agreement: RMZ will provide around 0.3 million square feet, with expansion options available.

Future Plans: RMZ currently oversees 21 million sq ft of office projects and aims to add another 30 million sq ft over the next 2-3 years, targeting a total office portfolio of 50 million sq ft across six cities.

Market Demand: Thirumal Govindraj, CEO of RMZ Office and RMZ NXT, noted that India is emerging as a hub for GCC expansion, with a rising demand for tech-powered workspaces.

Chevron's Vision: Akshay Sahni, Country Head at Chevron India, emphasized that ENGINE will empower local talent to advance global operations, addressing contemporary energy challenges and developing future energy systems.

RMZ's Profile: RMZ Corporation is a prominent family-owned real estate entity in India, focusing on real assets, including premium office spaces, industrial and logistics facilities, and mixed-use developments.

Conclusion: This strategic lease aligns with RMZ's growth ambitions and underscores Bengaluru's role as a key player in the commercial real estate market.

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