Real estate developer RMZ Corp has signed a joint venture agreement with My Home Group to develop 10 million square feet of premium commercial office space in Hitech City, Hyderabad’s information technology hub.
The project is valued at over US$1 billion.
My Home Group, founded by industrialist Jupally Rameswar Rao, has built 16 residential and commercial projects to date, with a total built-up area of 7 million square feet of living space. Aside from its construction business, My Home Group also operates in the cement, power, consultancy and education sectors.
RMZ currently has 20 million square feet of assets under management and has developed 1.3 million square feet of premium homes and 600,000 square feet in hospitality and retail projects.
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