RMZ Group Plans $35 Billion Investment in Data Centres, AI Infrastructure and Commercial Real Estate

RMZ Group Unveils $35 Billion Investment Plan for India

RMZ Group, a privately held real assets platform, has announced plans to invest over $35 billion in India over the next five years across various sectors. The investments will be funded through a mix of debt and equity, and the group is also considering an initial public offering to secure permanent, long-term capital.

The announcement comes as India enters a period of structural institutionalisation of real assets, distinct from the cyclical capital inflows the country has historically seen. With the Union Budget 2026-27 proposing a 21-year tax holiday for foreign cloud providers using India-based data centres, and approximately $70 billion already committed nationally to the data centre sector with a further $90 billion in announced projects, the timing of RMZ's deployment plan is deliberate.

Half of the $35 Billion Will Go into Digital Infrastructure

Roughly half of the $35 billion will go into digital infrastructure. RMZ, in partnership with Colt, a subsidiary of Devonshire, the family office of Fidelity's Abigail Johnson, is building co-location data centres across Navi Mumbai, Chennai, Visakhapatnam, Hyderabad, and Bangalore. Near-term committed capacity additions include 750 megawatts in Navi Mumbai and 485 to 500 megawatts in Vizag, following a formal agreement with the Andhra Pradesh government. The group's five-year target is to reach 1.5 gigawatts of co-location capacity in India, at a capital outlay of $12 to $15 billion.

| Sector | Committed Capacity | Capital Outlay | | --- | --- | --- | | Navi Mumbai | 750 megawatts | - | | Vizag | 485-500 megawatts | - | | Total | 1.5 gigawatts | $12-$15 billion |

India currently generates approximately 20% of the world's data but accounts for just 2% of global data centre capacity. National installed capacity stands at 1.1 to 1.2 gigawatts, against a projected demand of 5 to 7 gigawatts over the next five years. RMZ has constituted a separate entity to develop AI factory capabilities on top of its existing co-location infrastructure, offering GPU as a service to cloud providers and AI companies establishing operations in India.

Balance of Capital Will Go into Commercial Real Estate

The balance of the capital will go into commercial real estate, led by Global Capability Centres. India's office market recorded an all-time high absorption of 78.2 million square feet in 2025, an 11 percent year-on-year increase, with GCCs driving 45 percent of total leasing activity. By 2030, India is projected to host over 2,400 GCCs employing more than 2.8 million professionals, with the sector's economic contribution expected to reach $105 to $110 billion.

RMZ said it holds a leadership position in this market, operating across Bangalore, Hyderabad, Gurgaon, Mumbai, Pune, and Chennai, and is targeting approximately 20 percent of annual commercial office absorption nationally. The group is also deploying capital into retail formats built around experiential programming, luxury business and leisure hospitality, industrial and logistics assets, and Signature Offices, its institutionalised office-for-ownership product that allows retail and institutional investors to directly own grade-A commercial office assets.

"The way we look at it, we need permanency of capital. And the only way you can get permanent capital is if you tap into the public markets. So all these years, we have built partnerships along with some great sovereign pension funds, strategic investors, and that has gotten us to where we are today," said Manoj Menda, Co-Founder and Chairman, Supervisory Board, RMZ.