RMZ sells its real estate assets for $2 billion to Brookfield
By MYBRANDBOOK
RMZ, the Indian developer, has sold out 12.5 million square feet of its real estate assets to Brookfield Asset Management Inc BAMa.TO for $2 billion.
As per news source, the deal includes divestment of RMZ’s co-working business CoWrks.
this deal, RMZ will have zero debt as it involves its rent-yielding offices and co-working spaces. The company will use the money to expand its portfolio.
“The deal marks the largest-ever deal in the Indian real estate industry,” RMZ said in a statement.
The company will divest a part of its core portfolio across Bangalore and Chennai, it said.
The commercial real estate asset portfolio of RMZ is valued at about $10 billion, according to The Hindu newspaper of India.
The deal involved a sale of 18% of RMZ’s commercial assets portfolio.
BREAKING NEWS
TECHNO TRENDS
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
Clover Infotech appointed Subham Banerjee as CDO
Clover Infotech has announced the appointment of Subham Banerjee as its Ch
Saviynt ropes in Sanjeevi Kumar as new Sales Director in India
The cloud-native identity and governance platform solutions provider Saviy
OPEN YOUR EYES
INTERVIEWS
D-Link in pursuit of building a more connected, smarter and co
D-Link is committed to the ‘Make in India’ vision. Aligned with this, t
A few changes in policies can make the PLI scheme even more ef
The Production Linked Incentive (PLI) scheme is a government initiative tha
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
OPTIEMUS INFRACOM
FINOLEX INDUSTRIES LTD.
NETWEB TECHNOLOGIES INDIA LTD.
AMARA RAJA POWER SYSTEMS LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Shailendra Katyal
Shailendra is instrumental in Lenovo achieving the no.1 position in PC...
Technology Icons Of India 2023: Nikhil Rathi
Nikhil Rathi, Co-founder & CEO of Web Werks, a global leader in Data C...
Technology Icons Of India 2023: Girish Mathrubootham
Girsh Mathrubootham envisioned and co-founded Freshworks. Freshworks, ...
PARTNER SPEAKERS
PSU
HPCL is transforming the energy landscape, across the nation and beyond
HPCL is world-class energy company known for caring and delighting the...
NPCI leading India towards Digital payments
The National Payments Corporation of India (NPCI) is an initiative tak...
GeM maintains transparency in online procurement of goods & services
Created in a record time of five months, Government eMarketplace is a ...
VIDEOS
Top 25 Brands
Value-Added Distribution
NETPOLEON SOLUTIONS
Netpoleon Group is a Value-Added Distributor (VAD) of Network Security...
Crayon Software Experts India Pvt Ltd
Crayon helps its customers build the commercial and technical foundati...
R P TECH INDIA
R P Tech is recognized for its diverse products portfolio, value-add...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
