RMZ to In­vest $1b in H’bad Of­fice Space Over 4 Yrs

The Economic Times - - Companies: Pursuit Of Profit -

Hy­der­abad: Ben­galuru-head­quar­tered prop­erty de­vel­oper RMZ has chalked out a plan to in­vest $1 bil­lion (over ₹ 6,000 crore) in Hy­der­abad for de­vel­op­ing 10 mil­lion sq ft of grade-A of­fice space over the next four years.

The pro­posed of­fice space in­cludes the 3.5-mil­lion sq ft Skyview Project, touted as In­dia’s largest sin­gle-of­fice space that it has taken up in a JV with the Hy­der­abad’s MyHome group. The com­pany plans to de­velop the re­main­ing 7 mil­lion sq ft on its own.

This is part of their strat­egy to de­velop 40 mil­lion sq ft of com­mer­cial space in cities like Hy­der­abad, Ben­galuru, and Pune by 2020, said Thiru­mal Govin­draj, MD of RMZ. — Our Bu­reau

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