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.
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 ...
FRESHWORKS TECHNOLOGIES PVT. LTD.
RELIANCE JIO INFOCOMM LTD.
BHARAT ELECTRONICS LTD.
OPTIEMUS INFRACOM
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: Ashish Kumar Chauhan
Ashish works as the CEO of the National Stock Exchange (NSE). He is al...
Technology Icons Of India 2023: Rajiv Memani
As Chair of the EY Global Emerging Markets Committee, Rajiv connects e...
RailTel connecting every corner of India
RailTel is an ICT provider and one of the largest neutral telecom infr...
HPCL is transforming the energy landscape, across the nation and beyond
HPCL is world-class energy company known for caring and delighting the...
GSTN aims to integrate indirect tax ecosystem on a shared IT infrastructure
Goods and Services Tax Network (GSTN) has built Indirect Taxation plat...
INGRAM MICRO INDIA PVT. LTD.
Ingram Micro India, a large national distributor offers a comprehensiv...
Crayon Software Experts India Pvt Ltd
Crayon helps its customers build the commercial and technical foundati...
SATCOM INFOTECH PVT. LTD.
Satcom Infotech Pvt. Ltd is a distribution houses in security in India...