RMZ Corp targets entry in US, Europe markets; plans to develop offices in London, Paris and New York

Asia's Tech News Daily

#hybrid work model, #Manoj Menda, #Real Estate, #RMZ Corp, Bloomberg

Hybrid work model, which involves a mixture of work-from-home and work in offices, has gained momentum in the developed world (Representational image)

Real estate major RMZ Corp is targeting an entry into the US and European markets, with the company’s Chairman Manoj Menda saying in an interview on December 8 that their focus will be on developing offices in global hubs including London, Paris and New York.

According to Menda, the COVID-19 pandemic has changed the work culture through prolonged use of work-from-home, but at the same time it has thrown challenges for workspace solutions due to the adoption of hybrid work models.

The hybrid model, which involves a mixture of work-from-home as well work in offices, has gained momentum in major parts of the developed world. Considering this, RMZ is planning to make forays in the global market.

“Our customers need workspace solutions worldwide, which pushed us to look for geographies outside India,” Bloomberg quoted Menda as saying. “Our focus will primarily be the key gateway cities like London, Paris and New York for scaling up,” he added.

Also Read | Is the hybrid work model a good fit for companies in India?

RMZ has its sights on an annual capital deployment of $4 billion, and out of this, a major portion of 15 percent will be used for global expansion, Menda reportedly said.

Taking the contributions from its partners into account, the total investment in RMZ’s international foray is expected to cross $1 billion, the report said.

“We will involve our existing partners for investments outside India as well as look at new partners in those geographies. That gives us more capital at play,” Menda said.

Notably, RMZ plans to set up offices in London and Dubai by next quarter. In India, the company currently owns around $10 billion worth of commercial realty asset, which are considered to be high income yielding.

Since the past three years, RMZ has been studying the major overseas markets, the Bloomberg report said, adding that it has entered into talks with local developers and landowners and in the targeted cities for co-development. For co-investment, the company also plans to align with strategic financial investors, the report noted.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Sony plummets in Tokyo after Microsoft buys Activision

Photo: ANP Japanese technology group Sony has lost significant value on the stock exchange in Tokyo on Wednesday. The stock fell after the acquisition of games developer Activision Blizzard by ... Read more »

DCM Shriram Standalone December 2021 Net Sales at Rs 2,677.85 crore, up 25.32% Y-o-Y

Reported Standalone quarterly numbers for DCM Shriram are: Net Sales at Rs 2,677.85 crore in December 2021 up 25.32% from Rs. 2,136.75 crore in December 2020. Quarterly Net Profit at ... Read more »

DCM Shriram Consolidated December 2021 Net Sales at Rs 2,729.76 crore, up 26.45% Y-o-Y

Reported Consolidated quarterly numbers for DCM Shriram are: Net Sales at Rs 2,729.76 crore in December 2021 up 26.45% from Rs. 2,158.74 crore in December 2020. Quarterly Net Profit at ... Read more »

Power Finance Corp, REC reduce lending rates by 40 bps

Representative energy State-run non-banking financial firms — Power Finance Corporation (PFC) and REC Ltd — have reduced their lending rates across all types of loans by 40 basis points. PFC ... Read more »

Adani Port and SEZ Q3 PAT may dip 25.8% YoY to Rs. 1,172.2 cr: ICICI Direct

ICICI Direct has come out with its third quarter (October-December’ 21) earnings estimates for the Logistics sector. The brokerage house expects Adani Port and SEZ to report net profit at ... Read more »

Shakti Pumps Consolidated December 2021 Net Sales at Rs 268.63 crore, down 15.17% Y-o-Y

Reported Consolidated quarterly numbers for Shakti Pumps (India) are: Net Sales at Rs 268.63 crore in December 2021 down 15.17% from Rs. 316.66 crore in December 2020. Quarterly Net Profit ... Read more »

RamkrishnaForge Consolidated December 2021 Net Sales at Rs 601.32 crore, up 49.27% Y-o-Y

Reported Consolidated quarterly numbers for Ramkrishna Forgings are: Net Sales at Rs 601.32 crore in December 2021 up 49.27% from Rs. 402.85 crore in December 2020. Quarterly Net Profit at ... Read more »

L&T Technology Standalone December 2021 Net Sales at Rs 1,505.60 crore, up 18.78% Y-o-Y

Reported Standalone quarterly numbers for L&T Technology Services are: Net Sales at Rs 1,505.60 crore in December 2021 up 18.78% from Rs. 1,267.60 crore in December 2020. Quarterly Net Profit ... Read more »

Den Networks Standalone December 2021 Net Sales at Rs 279.99 crore, down 17.67% Y-o-Y

Reported Standalone quarterly numbers for Den Networks are: Net Sales at Rs 279.99 crore in December 2021 down 17.67% from Rs. 340.09 crore in December 2020. Quarterly Net Profit at ... Read more »

Rajratan Global Standalone December 2021 Net Sales at Rs 135.98 crore, up 31.52% Y-o-Y

Reported Standalone quarterly numbers for Rajratan Global Wire are: Net Sales at Rs 135.98 crore in December 2021 up 31.52% from Rs. 103.39 crore in December 2020. Quarterly Net Profit ... Read more »

Newgen Software Consolidated December 2021 Net Sales at Rs 202.51 crore, up 9.16% Y-o-Y

Reported Consolidated quarterly numbers for Newgen Software Technologies are: Net Sales at Rs 202.51 crore in December 2021 up 9.16% from Rs. 185.51 crore in December 2020. Quarterly Net Profit ... Read more »

Star Housing Standalone December 2021 Net Sales at Rs 4.72 crore, up 14.56% Y-o-Y

Reported Standalone quarterly numbers for Star Housing Finance are: Net Sales at Rs 4.72 crore in December 2021 up 14.56% from Rs. 4.12 crore in December 2020. Quarterly Net Profit ... Read more »

Subway adds new sandwiches to the menu including Baja Turkey Avocado Sub

Photo by: Subway Website Subway is starting off the new year with the addition of new sandwiches to the menu. Starting this week, the sandwich chain will be selling two ... Read more »

Bajaj Finance Consolidated December 2021 Net Sales at Rs 8,532.58 crore, up 28.19% Y-o-Y

Reported Consolidated quarterly numbers for Bajaj Finance are: Net Sales at Rs 8,532.58 crore in December 2021 up 28.19% from Rs. 6,656.12 crore in December 2020. Quarterly Net Profit at ... Read more »

Storyboard18 | Much ado about Nothing: Skore's new ad spotlights female pleasure

In a category which has been marred with sexual innuendos and male gaze-led advertising, TTK Healthcare Pvt Ltd owned condom brand Skore has rolled out a campaign which focusses on ... Read more »

Shish Industrie Standalone December 2021 Net Sales at Rs 8.82 crore, up 7.26% Y-o-Y

Reported Standalone quarterly numbers for Shish Industries are: Net Sales at Rs 8.82 crore in December 2021 up 7.26% from Rs. 8.23 crore in December 2020. Quarterly Net Profit at ... Read more »

Rajratan Global Consolidated December 2021 Net Sales at Rs 221.83 crore, up 39.32% Y-o-Y

Reported Consolidated quarterly numbers for Rajratan Global Wire are: Net Sales at Rs 221.83 crore in December 2021 up 39.32% from Rs. 159.22 crore in December 2020. Quarterly Net Profit ... Read more »

L&T Technology Consolidated December 2021 Net Sales at Rs 1,687.50 crore, up 20.48% Y-o-Y

Reported Consolidated quarterly numbers for L&T Technology Services are: Net Sales at Rs 1,687.50 crore in December 2021 up 20.48% from Rs. 1,400.70 crore in December 2020. Quarterly Net Profit ... Read more »

Bajaj Finance Standalone December 2021 Net Sales at Rs 7,523.07 crore, up 28.7% Y-o-Y

Reported Standalone quarterly numbers for Bajaj Finance are: Net Sales at Rs 7,523.07 crore in December 2021 up 28.7% from Rs. 5,845.41 crore in December 2020. Quarterly Net Profit at ... Read more »

Shree Ganesh Re Standalone December 2021 Net Sales at Rs 21.13 crore, up 59.29% Y-o-Y

Reported Standalone quarterly numbers for Shree Ganesh Remedies are: Net Sales at Rs 21.13 crore in December 2021 up 59.29% from Rs. 13.26 crore in December 2020. Quarterly Net Profit ... Read more »

ICICI Prudentia Standalone December 2021 Net Sales at Rs 480.62 crore, down 22.85% Y-o-Y

Reported Standalone quarterly numbers for ICICI Prudential Life Insurance Company are: Net Sales at Rs 480.62 crore in December 2021 down 22.85% from Rs. 622.99 crore in December 2020. Quarterly ... Read more »

Just Dial Consolidated December 2021 Net Sales at Rs 158.89 crore, down 6.28% Y-o-Y

Reported Consolidated quarterly numbers for Just Dial are: Net Sales at Rs 158.89 crore in December 2021 down 6.28% from Rs. 169.54 crore in December 2020. Quarterly Net Profit at ... Read more »

Tata Elxsi Standalone December 2021 Net Sales at Rs 635.41 crore, up 33.18% Y-o-Y

Reported Standalone quarterly numbers for Tata Elxsi are: Net Sales at Rs 635.41 crore in December 2021 up 33.18% from Rs. 477.10 crore in December 2020. Quarterly Net Profit at ... Read more »

Den Networks Consolidated December 2021 Net Sales at Rs 294.11 crore, down 14.05% Y-o-Y

Reported Consolidated quarterly numbers for Den Networks are: Net Sales at Rs 294.11 crore in December 2021 down 14.05% from Rs. 342.18 crore in December 2020. Quarterly Net Profit at ... Read more »

Shree Ganesh Re Consolidated December 2021 Net Sales at Rs 21.13 crore, up 59.29% Y-o-Y

Reported Consolidated quarterly numbers for Shree Ganesh Remedies are: Net Sales at Rs 21.13 crore in December 2021 up 59.29% from Rs. 13.26 crore in December 2020. Quarterly Net Profit ... Read more »

Shakti Pumps Standalone December 2021 Net Sales at Rs 256.14 crore, down 14.64% Y-o-Y

Reported Standalone quarterly numbers for Shakti Pumps (India) are: Net Sales at Rs 256.14 crore in December 2021 down 14.64% from Rs. 300.08 crore in December 2020. Quarterly Net Profit ... Read more »

Just Dial Standalone December 2021 Net Sales at Rs 158.89 crore, down 6.28% Y-o-Y

Reported Standalone quarterly numbers for Just Dial are: Net Sales at Rs 158.89 crore in December 2021 down 6.28% from Rs. 169.54 crore in December 2020. Quarterly Net Profit at ... Read more »

Microsoft's Activision purchase bolsters metaverse efforts against Zuckerberg's Meta

(Image: Shutterstock) If Microsoft dominated the desktop platform, it lost out the mobile computing wars to rivals Apple and Google. The software giant is now staking claim to shape what ... Read more »

ICICI Prudentia Consolidated December 2021 Net Sales at Rs 481.53 crore, down 22.78% Y-o-Y

Reported Consolidated quarterly numbers for ICICI Prudential Life Insurance Company are: Net Sales at Rs 481.53 crore in December 2021 down 22.78% from Rs. 623.56 crore in December 2020. Quarterly ... Read more »

NFT: OpenSea acquires Dharma Labs crypto wallet

Photo by: Dharma Labs Website OpenSea, a New York-based online marketplace for non-fungible tokens, revealed on Tuesday, Jan. 18, that it has acquired the crypto digital wallet Dharma Labs. The ... Read more »

NFT: Bithumb is launching an NFT marketplace with rumored backing from LG CNS

Photo by: Nick Yandell/Pixabay Bithumb is reportedly establishing its own NFT marketplace, and this project is rumored to be supported by LG Corporation’s subsidiary, LG CNS. Based on the reports, ... Read more »

As US inflation hits a 39-year high, how did forecasters get it so wrong?

In 2008, as the global financial crisis was ravaging economies everywhere, Queen Elizabeth, visiting the London School of Economics, famously asked, “Why did nobody see it coming?” The high inflation ... Read more »

Genting names liquidators, as US$2.78 billion of debt triggered by bankrupt shipyard forced ‘Cruise to Nowhere' operator into winding up

Genting Hong Kong has filed a winding-up petition in Bermuda, after the bankruptcy of its shipyard in Germany triggered US$2.78 billion of debt and forced Asia’s largest operator of sea ... Read more »

Dollar rises to 77.06 rubles on Moscow exchange

Euro moves up to 87.31 rubles Read more »

MOEX index up 0.34% to 3340.39 points at trade start

However, by 07:15 am Moscow time, the index was down 0.9% at 3298.88 points Read more »

ILO report says Afghan crisis causing massive job losses

The Associated PressFILE – Workers sit on their wheelbarrows as they wait to be hired on the side of the road in Kabul, Afghanistan, Oct. 8, 2021. More than a ... Read more »

Solar startup estimates capacity to treble this year

Growing demand for solar energy from households and businesses as a result of new lifestyles transformed by the pandemic is expected to help energy startup Ion Energy Co expand its ... Read more »

Cruise operator Genting Hong Kong files to wind up company as cash runs out

The Hong Kong skyline from on board the Genting Cruise Lines Genting Dream while berthed in Hong Kong on Wednesday, July 28, 2021.Lam Yik | Bloomberg | Getty Images Cruise ... Read more »

Hong Kong stocks advance as China pledges to open policy toolbox while Alibaba weakens on regulatory concerns

Hong Kong stocks advanced, shrugging off declines in regional markets, as bets on policy easing in mainland China fuelled gains in companies within the consumer-staple and property industries. Alibaba Group ... Read more »

AT&T, Verizon agree to delay 5G implementation at some US airports

AT&T will delay the implementation of its 5G network on a “limited number” of towers near airports following warnings from US airlines NEW YORK: AT&T and Verizon agreed Tuesday to ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic