RMZ Partners with MMRDA & CIDCO for $30B Mumbai Investment

Bengaluru-based RMZ has entered a strategic investment partnership with Mumbai Metropolitan Region Development Authority (MMRDA) and City & Industrial Development Corporation of Maharashtra Limited (CIDCO).

The collaboration, announced at the World Economic Forum in Davos, aims to facilitate investments of up to $30 billion in the Mumbai Metropolitan Region (MMR) over the next decade.

This initiative is expected to generate approximately 300,000 direct and indirect jobs throughout the project's lifecycle.

Key Highlights

• RMZ partners with MMRDA and CIDCO for $30 billion investment in MMR
• The collaboration will generate 300,000 jobs over the next decade
• Data center and commercial developments planned for Navi Mumbai, aligning with Maharashtra's tech infrastructure vision

The partnership's focus is on driving economic growth through foreign direct investment (FDI) in urban development, regional infrastructure, and digital services. RMZ, a privately-owned alternative asset operator, will oversee the development of premium commercial real estate, logistics, mixed-use developments, hospitality, and digital infrastructure projects.

RMZ also plans to build new data centers and commercial properties in Navi Mumbai as part of its collaboration with CIDCO.

The project is set to begin in the financial year 2026-27, with CIDCO assisting RMZ in obtaining necessary approvals, land allotments, and clearances.

Commenting on the partnership, Manoj Menda, chairman of the Supervisory Board, RMZ, said, “Large, long-duration investments require more than capital; they require alignment, trust, and strong institutional frameworks. Maharashtra’s emphasis on planned development and long-term economic value creation provides the right foundation for such partnerships."

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This partnership aligns with Maharashtra's vision of fostering technology-led infrastructure projects and strengthening digital resilience in India.