RMZ Corp to Invest $1.7 Billion in Data Centers

Indian real estate developer RMZ Corp. is diversifying its business portfolio with a $1.7 billion investment in two state-of-the-art data centers, capitalizing on surging demand driven by the artificial intelligence (AI) revolution.
The Bengaluru-based company plans to establish one data center in Navi Mumbai, Maharashtra, and another in Chennai, Tamil Nadu. While the Navi Mumbai facility is already partially operational, construction in Chennai is set to commence soon. Together, these projects will provide a combined capacity of 250 megawatts, reflecting the electricity-intensive needs of AI-driven data processing.

“This investment reduces our dependency on a single asset class and a single business,” said RMZ Chairman Manoj Menda. The move aligns with the broader trend in India's data center industry, which is projected to attract $5.7 billion in investments by 2026, according to a report by Jones Lang LaSalle.
India’s growing adoption of AI services underscores the importance of robust data center infrastructure. Siemens AG's Chief Technology Officer Peter Koerte recently emphasized the need for significant upgrades in India’s data facilities to secure its position as a leader in generative AI. RMZ joins the ranks of major players like Nvidia, partnering with Mukesh Ambani, and Gautam Adani, who has pledged $6 billion for data centers.

RMZ is also undergoing a major restructuring into five operating divisions: three focused on real estate, including commercial properties, luxury housing, and hospitality, and two dedicated to infrastructure, covering industrial and logistics as well as data centers.

The company is leveraging strategic partnerships to fuel its expansion. It has joint ventures with Canada Pension Plan Investment Board and Mitsui Fudosan Ltd. for commercial office development in India and is exploring further alliances with sovereign wealth funds and global investors.
This transformative shift positions RMZ to capitalize on India's booming data-driven economy while securing long-term growth across diversified verticals.