November 23, 2023: Menda brothers-owned RMZ Corporation has unveiled its transition into an alternate asset owner. The company’s ambitious plan is to double its rent-yielding real estate business to $42 billion by 2029. It will channelise investments into office, mixed-use, industrial & logistics, RMZ Living (ultra-luxury residential offering) and the hospitality sector.
RMZ Corporation is an alternate asset owner dedicated to investing in high-growth opportunities worldwide. The firm has generated a total value of $18 billion across its diversified portfolio. Founded in India, RMZ Corporation ranks among the world’s largest family-owned alternate asset owners and is wholly owned by the billionaire Menda family.
RMZ Corporation is governed by a Supervisory Board, whose members serve in an ownership capacity, comprising the Menda brothers – Raj and Manoj, and the family’s second generation– Sidharth and Mihir. An Executive Board, comprising non-family senior leaders from diverse industry backgrounds, oversees each of the firm’s businesses.
Reflecting on this transformation, the Menda brothers, Raj and Manoj Menda, Chairs of the Supervisory Board of RMZ Corporation, stated, “This strategic transformation underscores the family’s unwavering commitment to growth and expansion within alternate investment classes. We are deeply focused on investing in high-growth opportunities across geographies that lay the foundations for a sustainable global economy. With the assistance of our second generation, Sidharth and Mihir, RMZ Corporation is positioned to become amongst the world’s largest family-owned alternate asset owners in the next 5 years.”
The next generation of the family, Sidharth and Mihir Menda, expressed, “At RMZ Corporation, we find ourselves on the brink of a transformative journey, prepared to reshape our core operations and impact India’s alternative asset landscape. India’s potential to generate $1 trillion in diversified assets over the next 8-10 years is on the horizon, and our objective is to be visionary leaders who fully seize this exceptional opportunity.”
The company also announced the appointment of Arshdeep Sethi as president of RMZ Real Estate, and chief executive officers for its various asset classes.
Arshdeep Sethi, the newly appointed president of RMZ Real Estate, stated, “With a two-decade legacy in the real estate industry and a track record of developing one of the largest commercial real estate portfolios in Asia, we are well-positioned to expand into four additional real estate asset classes: Mixed-use, industrial & logistics, living, and hospitality. Our primary objective is to create exceptional assets and high-quality portfolios on a global scale. We have great confidence in the India growth story and are committed to annually adding rent-yielding real estate around $5 billion to our portfolio, alongside annualised sales of $0.6 billion in luxury residential in 2029. Furthermore, one-fifth of our capital allocation strategy is dedicated to acquiring and developing premium real estate in key gateway markets worldwide, such as London and New York.”
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An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.
In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
sunita.mishra@proptiger.com
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