RMZ Corp is a privately-owned global real-estate investment, development, and management firm, with presence across six Indian cities. Established in 2002 by the Menda brothers, Raj and Manoj Menda, the company’s portfolio is poised to grow to an AUM of 85M sqft and an asset value of c. $15Bn over the next five years.
RMZ Corp’s deeply unifying purpose is to leverage their integrated digital platform to build smart, engaged and quantified communities. As a fully-integrated global company that provides industry-leading portfolio management and development capabilities across real estate investment strategies, RMZ aims to create exponential value for stakeholders and investors alike. Its cutting-edge real estate technologies enable innovation and sustainability that benefit not only enterprise clients, members and business partners, but also the communities in which RMZ operates. Their passion for urban life could not be any stronger. They are committed to moving communities forward enriching people’s lives.
With over 18 years of rapid growth, RMZ Corp has a hyper-growth plan of building a 1M member quantified community across 85M+ sqft and US$15B of real assets by 2026.
As a brand, RMZ Corp is built on the edifice of wise stewardship and long-term vision. Its process is rooted in sustainable intelligence, which seamlessly blends what is good for the environment with what is good for business. From single properties to city-defining mixed-use developments, RMZ is reimagining places with a focus on people. They pioneer new sustainability, technology and well-being solutions, and shape the future of how people live, work, learn and play. RMZ's successes in sustainability reaffirm their commitment to the environment. They have the largest LEED Arc portfolio in India.
The RMZ Foundation is a non-profit organisation established in 2015. Anu Menda is the Managing Trustee of the foundation, which focuses on empowering communities through public art, social housing, and more. It has backed and enabled innovative solutions that have changed the way communities live and interact.
The Foundation works at the intersection of four focus areas: Urban Innovation, Sustainability, resilient communities and Art to promote the well-being of humanity. The Foundation aims toward accelerating social entrepreneurs with impact investment into sustainable solutions that present scalable ideas for technology, urbanisation, and public policy to improve the cities in India and around the world.
The Foundation pursues sustainability objectives across the RMZ Corp portfolio. Their approach dictates both their investment strategy and their commitment to environmental, social and governance (ESG) practices. RMZ Corp has the largest LEED Arc portfolio in India. The Foundation is working towards having the country's largest carbon-neutral real asset portfolio as well.
The Foundation builds 'Social Housing' to empower marginalised and underprivileged communities through increased accessibility and upgraded living. They also build 'Community Labour Housing' to enhance the quality of life for wage earning individuals at RMZ Corp's development sites.
RMZ Foundation seeks to integrate art into the urban environment, creating a unique identity with a vision to bring together a collection of the most riveting works of art from around the world. They seek to bring art directly to the public while democratising it through the acquisition of noted established, mid-career and emerging artists. The Foundation's work in the sphere of Public Art has 100+ monumental and iconic installations by notable contemporary artists of global merit placed in public spaces across India.
Founded in 2002, with an employee strength of 26 members, RMZ Corp. pioneered the development of 'The Millenia', a 0.3M sqft asset situated in Ulsoor, Bangalore. RMZ Corp. is today headquartered at 'The Millenia.' Soon after, RMZ Futura 1, was developed and leased in a record time of 135 days. In the same year, the firm also developed RMZ Pinnacle in Bangalore, closing the year with 1.15 M sqft worth of development.
In 2003, the company developed two more assets in Bangalore; RMZ Titanium and RMZ Gateway after which they ventured into the Hyderabad market with the launch of RMZ Futura II. RMZ forayed into Pune with the launch of RMZ Westend, a landmark property, completed in 110 days. The final development of the year was that of RMZ Ecospace a 2M sqft office development situated on the Outer Ring Road (ORR) in Bangalore. RMZ pioneered the development of Outer Ring Road, creating and establishing a micro-market that spearheaded to become the largest commercial real estate market by absorbance in the world.
In the company's fifth year of operation, RMZ's asset ownership grew to 6M sqft; employee strength increased to 250 members and its presence spread across five cities. In the same year RMZ Millenia Business Park, Chennai was awarded LEED Gold certification and RMZ Ecospace, Kolkata received LEED Platinum certification.
By 2011, the firm diversified into residential real estate with the brand RMZ Homes and launch of three premium residential assets in Bangalore – RMZ Galleria, RMZ Latitude and RMZ Sawaan. RMZ's residential wing totaled 1.5M sqft. Their real asset portfolio was now US$2.5B with 14M sqft under ownership.
In July 2012, RMZ furthered their expansion into Outer Ring Road (ORR) by acquiring 100% stake in Adarsh Prime Projects Private Limited, to develop a commercial office asset, RMZ Ecoworld. Spread over 52 acres located, RMZ began development of their 14M sqft flagship asset.
In 2013, sovereign wealth fund, Qatar Investment Authority (QIA) invested US$300M in RMZ Corp. They raised US$500M in the second round of funding in 2016. The firm expanded further across the country: Hyderabad, Chennai, and National Capital Region, acquiring a 0.8M sqft commercial real asset for US$150M in Gurgaon. The firm acquired the Shangri-La Hotel for a little over US$100M to redevelop the same and build an additional 2.5M sqft of office, to scale RMZ Ecoworld. RMZ launched yet another an integrated development, a 2.1M sqft asset called 'One Paramount' in Chennai. Their real asset portfolio was now US$4.2B with 26M sqft under ownership.
n 2017, RMZ invested heavily in controlling the Hyderabad office market by investing over US$1B to develop and acquire real assets. The firm's portfolio in Hyderabad is US$4B spread across 20M sqft. 'The Skyview' is a 4M sqft asset, and the first of many in RMZ's re-entry into Hyderabad. The asset is in strategic partnership with the Hyderabad-based My Home Group.
In 2018, RMZ struck a US$1 billion deal to buy back shares from their investors, Qatar Investment Authority (QIA), creating rich value and returns for their investors over the investment tenure. The firm was then again 100% family-owned by the Menda’s. Their real asset portfolio was now US$5B with 30M sqft under ownership. RMZ acquired a land parcel from Mumbai-listed developer DB Realty, to develop 7M sqft, Mumbai's and one of India's largest commercial office developments. With this asset, RMZ established its standing in the financial capital of India, Mumbai.
In 2019, the company acquired development rights to build a further 5.5M sqft of commercial office space in Hyderabad. Their real asset portfolio was now US$7.5B with 50M sqft under their ownership and development.
In January 2020, RMZ Corp. announced a strategic, equal partnership with Mitsui Fudosan (Asia) Pte. Ltd, a subsidiary of Mitsui Fudosan Co., Ltd., a leading global real estate developer headquartered in Tokyo. The 50:50 joint venture of US$1B, was forged to augment RMZ Corp.'s 'Future of Space' landscape, in India. The association was Mitsui Fudosan's maiden investment in India. The first development undertaken by this joint venture was a 3.5M sqft development named "RMZ Ecoworld 30", located on the Outer Ring Road.
In the landmark year 2020, the firm achieved one of its most important milestones – a successful conversion to becoming a "debt-free" firm, with the divestment of 12.5M SF of 67M SF (circa 18%) of their real assets across Bangalore and Chennai to a fund managed by Brookfield Asset Management. The firm raised US$2 billion of fresh capital, to clear all debts, and fuel their hyper-growth strategy. Upon divestment, they are now amongst the only zero debt real estate companies, globally.
RMZ Corp implements sustainable practices as a core aspect of it projects to address global, social, economic and environmental concerns.
RMZ’s projects are LEED-Gold certified, which incorporate various design elements including building shape and orientation, construction materials, landscaping as well as measures like rainwater harvesting and waste management to ensure minimal carbon footprint, improved air and water quality, water conservation and reduced waste outflow. RMZ’s focus on green and sustainable practices has made it the largest LEED Arc portfolio in India.
RMZ’s campuses are designed to enable maximum penetration of natural air and light into the buildings while minimizing heat gain through its design elements. RMZ incorporates extensive landscapes with lush green spaces in its projects.
RMZ promotes rainwater harvesting, used-water treatment and recycling in its campuses through the collection and reuse of terrace runoff and recharge pits. This helps in promoting groundwater charging, thereby reducing the demand for fresh water from distant sources.
Using Internet based technologies (IoT) and a full array of smart sensors, the company collects data pertaining to quality, flow, and energy from sewage treatment plants across its assets. RMZ has further implemented IOT-based real-time water management systems and sewerage treatment plants across its projects.
RMZ Corp has consulted and worked closely with European Standard En3 to sign the 1st WELL Portfolio from India, thereby committing to over 23M sq ft of WELL space across India.
RMZ’s waste management practices include more than 85% of waste generated being recycled, zero water discharge and reduced use of paper through digitised building operations management. The efficient waste segregation at source is followed by collection, reuse, and recycling ensure that zero garbage is sent to landfills.
