New Delhi: Bengaluru-headquartered office realty major, RMZ Corporation, on Wednesday announced an ambitious target of doubling its rent-yielding business to over Rs 3 lakh crore, with fresh investment of around Rs 58,000 crore in alternate asset classes by 2029.
For this purpose, the company’s flagship entity - RMZ Real Estate - is diversifying into new segments through four new subsidiaries - RMZ Mixed Use, RMZ Living, RMZ Industrial & Logistics and RMZ Hospitality. These verticals are expected to be fully operational in 2024.
“This strategic transformation underscores the family’s unwavering commitment to growth and expansion within alternate investment classes,” the brother duo that helms RMZ, Raj and Manoj Menda, said. The company is focused on investing in high-growth opportunities across geographies, they added.
RMZ also announced a rejig in its senior management, naming Arshdeep Sethi as president of RMZ Real Estate. The list of names for the chief executive position in its different verticals include Thirumal Govindraj (RMZ Office), Avnish Singh (RMZ Mixed Use), Saandip Kundu (RMZ Living) and Avinash Sule (RMZ Industrial & Logistics and RMZ Hospitality).
Published 23 November 2023, 00:30 IST