RMZ Corporation, headquartered in Bengaluru, and the Canada Pension Plan Investment Board (CPPIB) have jointly agreed upon investing $750 million, converting one of Mumbai’s historical Bollywood studios into a totally revamped office complex. They are calling it RMZ Nexus. It is on an expansive 10.94-acre property off the Jogeshwari-Vikhroli Link Road, strategically connecting two sides of the Mumbai-western and eastern express highways. 

The redevelopment will comprise a 3.74 million square feet modern office park across six towers and the project is expected to be completed by 2027. RMZ and CPPIB have underlined that the project will play an important role in providing smooth connectivity in the city and has plans for a direct metro-integrated development that will provide easy access to South Mumbai. 

The office park will be designed with different amenities catering to the needs of contemporary businesses, such as concept retail stores, gourmet dining options, informal marketplaces, sky bars, social clubs, and a wellness zone, creating a dynamic environment for both work and leisure. 

Speaking for RMZ Office and RMZ NXT, Thirumal Govindraj shared the confidence that the company has over Mumbai and India’s economy in the future. According to him, the investment in RMZ Nexus would not only represent a positive input into the Mumbai skyline but was a strategic play on India’s growth curve. “We are expanding the portfolio at these key markets. This will come as part of our much wider expansion plans for RMZ,” he added. 

This comes at a time when the office leasing business in India has picked up real steam in prime spaces across cities such as Mumbai, Delhi-NCR, Hyderabad, and Bengaluru. So far, leasing activity has been more positive than anticipated, and the Indian office market has proven resilient enough for 2024. 

RMZ Corporation, which has delivered more than 75 million square feet of premium real estate, holds a portfolio of offices with occupancy exceeding more than 98%. More than 800 enterprise tenants are its clients. These include names like UPS Technologies, Haleon, HSBC Software, and DOW Chemical. The RMZ Nexus development reflects both the company’s commitment to innovation in real estate and its faith in Mumbai’s continued growth as a hub for global business.