Bengaluru-based real estate firm RMZ, in partnership with the Canada Pension Plan Investment Board (CPPIB), will invest $750 million to redevelop an iconic Bollywood studio in Mumbai into a major office space development.
As published by Hindustan Times, the project, named RMZ Nexus, will occupy a 10.94-acre site that was once home to the Kamal Amrohi Studios. Located on the Jogeshwari-Vikhroli Link Road, which connects the city’s western and eastern express highways, the office park will span 3.74 million square feet across six towers. The project is scheduled for completion in 2027.
RMZ Nexus will feature a metro-integrated development that offers easy access to both the city’s west and east corridors, as well as direct connectivity to South Mumbai. In addition to office spaces, the complex will include concept retail stores, gourmet dining options, informal marketplaces, sky bars, social clubs, and a wellness zone.
Thirumal Govindraj, CEO of RMZ Office and RMZ NXT, highlighted the strategic importance of the project. “RMZ Nexus is a testament to our conviction in Mumbai’s dynamic future and India’s burgeoning economy. This development is not just a contribution to Mumbai’s skyline but also a strategic investment in India’s growth trajectory,” he said. “We are poised to further expand our portfolio across Mumbai and other strategic markets, shaping the future of real estate and contributing to India’s continued economic ascendance.”
The Indian real estate sector has seen stronger-than-expected office leasing activity in 2024, with Mumbai, Delhi-NCR, Hyderabad, and Bengaluru driving growth in demand for prime office spaces.
RMZ has delivered over 75 million square feet of premium construction, and its office portfolio currently boasts an occupancy rate of over 98%, housing more than 800 enterprise tenants, including global companies such as UPS Technologies, Haleon, Planview, Booking Holdings, DOW Chemical, Nielsen IQ, and HSBC Software.
Earlier this year, RMZ leased out 360,000 square feet of office space to Chevron Global Technology & Services at its RMZ Ecoworld 30-series campus in Bengaluru.