RMZ, Maharashtra bodies plan USD 30 bn investment across Mumbai

RMZ, the real estate and infrastructure group owned by the Menda family, has entered into a strategic investment partnership with the Mumbai Metropolitan Region Development Authority (MMRDA) and the City & Industrial Development Corporation of Maharashtra Limited (CIDCO). The announcement was made at the World Economic Forum (WEF) Annual Meeting 2026 in Davos.

Under the partnership, RMZ will facilitate investments of up to USD 30 billion across the Mumbai Metropolitan Region over the next decade, to be deployed in phases. The investments are expected to support urban, regional and infrastructure development, with the potential to generate around three lakh direct and indirect jobs over the lifecycle of the projects.

As part of its collaboration with MMRDA, RMZ will take responsibility for investment structuring, capital mobilisation, master planning, development and long-term asset management. The focus will span multiple asset classes, including real estate, infrastructure, logistics parks and data centres. MMRDA will support the initiative by identifying and aggregating land parcels, providing policy-level guidance and facilitating planning and approval processes.

Separately, under its association with CIDCO, RMZ plans to develop new data centre and commercial projects in Navi Mumbai. The projects are expected to commence in the 2026–27 financial year. CIDCO will assist RMZ in securing land allotments, approvals and statutory clearances in accordance with the Government of Maharashtra’s policies and regulatory framework.

A CIDCO spokesperson said the partnership aligns with Maharashtra’s objective of attracting large-scale, technology-led infrastructure investments and strengthening digital infrastructure. The spokesperson added that Navi Mumbai is emerging as a key location for data centre development, supported by planned urban growth and supporting infrastructure.

Commenting on the agreement, Manoj Menda, Chairman of the Supervisory Board at RMZ, said long-term investments require strong institutional alignment and governance frameworks. He added that Maharashtra’s focus on planned development provides a stable foundation for partnerships aimed at sustained economic value creation.

Deepak Chhabria, President of RMZ Infrastructure, said Mumbai and its surrounding regions are becoming increasingly important to India’s digital infrastructure and data-driven economy. He noted that RMZ currently operates approximately 230 MW of colocation capacity across its digital infrastructure platform, including assets in and around Mumbai, and that the partnership with MMRDA and CIDCO would support the next phase of expansion in data centre and AI-related infrastructure.

The collaboration is intended to support the development of strategic locations within the Mumbai Metropolitan Region, improve connectivity and accelerate the rollout of infrastructure projects, while providing long-term investment visibility for domestic and global investors.