CPPIB & RMZ JV to Tap Office Properties

Canadian pension fund manager Canada Pension Plan Investment Board (CPPIB) has signed an equal joint venture with Bengaluru-based office property developer RMZ for development in Chennai and Hyderabad. While CPPIB will invest Rs 2,500 crore in the joint venture, RMZ w

BY Realty Plus
Published - Thursday, 25 Feb, 2021

Canadian pension fund manager Canada Pension Plan Investment Board (CPPIB) has signed an equal joint venture with Bengaluru-based office property developer RMZ for development in Chennai and Hyderabad. While CPPIB will invest Rs 2,500 crore in the joint venture, RMZ will bring in land for development, said Manoj Menda, corporate chairman at RMZ. The JV will develop 12 million square feet in total, he said. Value of the total developed properties would be around $1 billion, he added.