Realty Developer RMZ Corp plans foray into warehousing segment

Real estate developer RMZ Corp is venturing into the industrial and warehousing space as it looks to diversify its portfolio.

The firm is looking to set up a platform for the new asset class and has already lined up seed assets for the first phase, in which it plans to build 4.5 million sq. ft. "RMZ has already acquired around 3 million sq. ft. of land for its new venture and is expected to further tie up the remaining land in the coming months," said people aware of the matter. The new initiative will be led by Sidharth Menda.

The firm aims to build 50 million sq ft of industrial and warehousing space over the next eight years across top cities like Bangalore, Chennai, Mumbai, Delhi-NCR, Hyderabad, and Chennai.