Asia Press Agency

Tag: hospitality

  • RMZ Corp. Announces $7 Billion Investment to Diversify

    RMZ Corp. Announces $7 Billion Investment to Diversify

    Bengaluru-based real estate developer RMZ Corp. is set to embark on a significant diversification strategy, with plans to invest approximately $7 billion in equity. The investment will be directed towards expanding its core commercial office business and venturing into four new asset classes: industrial and logistics, hospitality, mixed-use, and luxury residential development.

     

    The ambitious investment plan aims to raise part of the funds from institutional investors, with the remaining portion funded through the company’s capital reserves. RMZ Corp. envisions creating assets under management worth $25 billion over the next five years across various real estate businesses.

     

    Arshdeep Sethi, President of RMZ Real Estate, highlighted the company’s intention to invest the capital strategically, stating, “We will invest the capital to create assets under management worth $25 billion in the next 5 years across various real estate businesses.”

     

    Existing investors in RMZ include Canada’s CPP Investments and Japan’s Mitsui Fudosan Asia Pte. Ltd, both of whom have supported the developer’s projects in recent years.

     

    The diversification plan involves the creation of new business verticals, each focusing on different aspects of real estate:

     

    • Mixed-Use Development: RMZ’s mixed-development business vertical will undertake city-centric projects in Mumbai, National Capital Region (NCR), and Bengaluru. These projects, ranging from 1-5 million sq ft, will include a combination of office space, hotels, retail, and residential components. The goal is to develop approximately 15 million sq ft across 3-4 projects in the next five years, with a gross asset value of $8 billion.

     

    • Logistics: RMZ plans to develop large warehouses, building a portfolio of 60 million sq ft in the coming years. The logistics vertical may also explore in-city or urban logistics at a later stage.

     

    • Hospitality: The company aims to develop hotels, including standalone leisure properties and business hotels that could be part of its mixed-use projects.

     

    • Residential Development: After focusing primarily on office projects, RMZ is re-entering the residential development space, particularly targeting luxury housing in Mumbai and Delhi-Gurugram.

     

    RMZ currently has 21 million sq ft of office projects under construction, with plans to add another 30 million sq ft in the next two to three years. The company remains optimistic about the future of the commercial office sector, emphasizing the continued leasing momentum in its projects.

     

    The $7 billion investment signals RMZ Corp.’s strategic move to diversify its real estate portfolio, aligning with its vision to navigate the evolving real estate landscape and capitalize on emerging opportunities in different asset classes. The company’s commitment to creating a substantial asset base underscores its confidence in the long-term growth and resilience of the real estate market.

  • Reliance Industries Partners with Oberoi Hotels

    Reliance Industries Partners with Oberoi Hotels

    Reliance Industries, a prominent conglomerate, has announced a strategic collaboration with Oberoi Hotels and Resorts to jointly manage three luxury properties across India and the UK. This partnership is set to provide travelers with exceptional experiences at iconic destinations. The properties included in this collaboration are:

     

    • Anant Vilas Hotel, Mumbai: Anant Vilas is poised to be a unique addition to Oberoi’s prestigious ‘Vilas’ portfolio of luxury properties. Positioned in Mumbai’s bustling business district, the Bandra Kurla Complex (BKC), Anant Vilas aims to offer a distinct and iconic experience for discerning visitors. The property is strategically located in an area that is becoming a vibrant mixed-use destination, catering to various needs such as business, hospitality, shopping, dining, arts, culture, education, and residences.

     

    • Stoke Park, UK: Owned by Reliance Industries’ subsidiary Stoke Park Limited, Stoke Park is nestled in Stoke Poges, Buckinghamshire, UK. The facility boasts a range of amenities, including a hotel, sports facilities, and a highly regarded golf course that ranks among the best in Europe. The collaboration with Oberoi Hotels aims to elevate the property into a world-class destination by upgrading facilities and enhancing the overall guest experience. Plans for Stoke Park’s comprehensive enhancement, encompassing golf and other sports facilities, are currently in the works.

     

    • New Project in Gujarat: Reliance Industries and Oberoi Hotels have also embarked on a project in Gujarat, envisioning another iconic luxury hotel. This project seeks to harness the tourism potential of the state and further enhance the region’s hospitality offerings. Although currently unnamed, this project holds promise as a unique addition to Gujarat’s hospitality landscape.

     

    • Oberoi Hotels and Resorts are renowned for their impeccable customer service and global presence in the hospitality industry. With a history of enhancing palaces and historic properties while preserving their character and essence, Oberoi has consistently delivered outstanding guest experiences.

     

    The collaboration between Reliance Industries and Oberoi Hotels signifies a commitment to providing travelers with world-class luxury and memorable stays across diverse destinations. This partnership seeks to leverage Oberoi’s expertise in delivering exceptional hospitality with Reliance Industries’ commitment to quality and innovation. As these iconic properties are managed and upgraded, travelers can look forward to enhanced offerings and unparalleled experiences.