RMZ targets targets USD 35 bn investments in data centers and real estate

Bengaluru-based real estate and infrastructure developer RMZ Group is evaluating an IPO as part of a five-year USD 35 bn investment plan to build long-term capital for expansion across data centers and commercial real estate, Business Standard reports.

Capex strategy: The investment will be split evenly between real estate and digital infrastructure, including colocation data centers and AI factories. RMZ is targeting 1.5 GW of data center capacity with up to USD 15 bn in investment. Additional capital is earmarked to develop platforms offering graphic processing units as a service. On the real estate side, RMZ is expanding office assets — driven by global capability centers (GCCs) — alongside hospitality, logistics, and residential projects across key Indian cities.

Who are they? The firm mainly serves the GCCs of multinational firms with office parks across Bengaluru, Mumbai, and Hyderabad. It is also expanding into logistics, hospitality, and residential platforms — all integrated in a single location. The group works with sovereign funds and pension investors and has set up a JV with London-based Colt Data Centre Services to invest USD 1.7 bn in the Indian data center market.

Why it matters: India generates 20% of the world’s data but has just 2% of data center capacity, creating a large infrastructure gap, RMZ told Reuters. An IPO would provide the real estate major with long-term funding to compete in capital-intensive segments like AI infrastructure while diversifying funding beyond debt — as global tech giants and domestic conglomerates ramp up their data center pledges in India.