RMZ Corp is one of the largest privately owned developers of real estate in India with over 67 million sqft of real assets that are smart, connected and collaborative. RMZ has exceptional expertise in accelerating performance and delivering high impact outcomes through winning execution strategies.
RMZ’s Genesis
Twenty years ago, when two brothers Manoj Menda and Raj Menda embarked on a journey with RMZ, still at a nascent stage, they did not have any land or assets to build on their today’s awe-inspiring futuristic spaces and designs.
Propelled by their hard work and a vision to ‘imagine, create, and transform for the future’, the Menda brothers, ably backed by a team of enterprising and creative workforce, have since crafted an empire full of wonderful structures that has dazzled the commercial real estate marketplace in India, beyond anybody’s imagination.
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RMZ’s Success Mantra
RMZ, a 100% family-owned business has a presence in 6 Indian cities where 200+ corporate tenants employ more than half a million people; the fastest growing commercial realty player has set its eyes on global expansion. RMZ will be entering New York, Dubai, London, and Paris office markets in phase one of its global expansion. About 15-20 per cent of new investments will be made in developing RMZ’s international portfolio. RMZ Corp has also accomplished a major milestone by becoming one amongst the only zero debt real estate companies in the world.
Notwithstanding the pandemic and its impact on the sector, RMZ never lost a client and the occupancy levels across all its office parks was more than 90%. RMZ has since leased 95% of its assets totaling 67m SFT and valued at $10 billion. RMZ’s goal is to achieve 350 million SFT of development both in India and overseas across office parks, industrial and logistics, hospitality and retail by 2032.
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RMZ’s Strategy
RMZ seeks to define the Future of Space and disrupt the way people view work. It founded the concept of co-working in India, to create yet another product clients need.
The family is an advocate for long-term strategic partnerships. In 2019, RMZ Corp. forged an equitable partnership with Mitsui Fudosan Co., Ltd., a leading global real estate developer, for US$2.5B to jointly develop assets in India. The first development undertaken by partnership was the 3.5M sqft development, RMZ Ecoworld 30, in Bangalore. In 2021 and 2022 respectively, the family has undertaken equitable multi-billion dollar joint ventures with the Canadian Pension Plan Investment Board to develop Offices and Mixed Use developments across key markets.
RMZ’s Growth Curve
In its persistent journey to be the most respected and leading real estate firm in the world, RMZ will focus on building a framework for the development of robust digital infrastructure that will facilitate the adoption of emerging technologies such as IoT, etc.
Another big focus for RMZ is on social experiences or “socializing spaces” that accommodate the demands of people from diverse professions and their changing work habits.
RMZ Funding Growth
RMZ divested 12.50 million sq. ft from their 67 million sq. ft (circa 18%) real estate portfolio to
Brookfield Asset Management in 2020 for US$2 billion. A part of the FDI was then channelised across portfolios that they continued to own and manage to achieve near-zero debt status and fuel their hyper- growth strategy.
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RMZ driving Sustainability
RMZ is incredibly proud of the meaningful positive impact it has on the communities in which it works. Recently, RMZ became the signatory member of the First Movers Coalition, by the World Economic Forum and the US State Department, to fight global emissions and climate change through decarbonisation efforts. RMZ management ensures that ESG factors are incorporated into business decisions across the value chain.
RMZ’s current objective is to achieve Net Zero by 2035. This target is in line with the Paris Agreement. To further strengthen their efforts, RMZ will sign the Net Zero Pledge with Science-Based Targets in the coming years. By 2023 RMZ also aims to achieve ‘Zero Waste to Landfill’ across the company operations.
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RMZ Foundation
The RMZ Foundation, conceptualized and established in 2015 by its Managing Trustee, Mrs. Anu Menda, has over the last decade undertaken an exploratory journey of ‘consciously constructing’ a connect between society and art. Its mission objective is to harness the power of art to impact the lives of communities around us, whilst promoting cultural awareness. The RMZ Foundation is focused on fulfilling an enduring mission: To promote the well-being of humanity.
