Commercial real estate developer RMZ plans to sell its premium offices for around ₹6,500 crore to family offices and other investors this year, according to a senior company executive.
Under its recently launched ‘Signature Offices’ arm, the Bengaluru-based firm will sell brand new office inventory in either standalone buildings, or under-construction or upcoming buildings demarcated for sale within RMZ's office campuses across three cities – Bengaluru, Pune and Gurugram.
Office leasing and investment volumes in commercial real estate have been rising in India. The growth in investment volume comes on the back of sustained interest from domestic institutions, family offices, and global capital markets players, who are increasingly allocating to Indian real estate through direct acquisitions, real estate investment trusts (Reits) and structured debt instruments, property advisory CBRE India said in a recent note.
In India, office developers have in the past sold smaller units to investors, a practice referred to as strata sales. Most Grade A office buildings, however, have stuck to the build-to-lease model by developers.
RMZ, which has a large existing commercial office portfolio, plans to build superior-quality offices for sale to investors, such as family offices, seeking direct ownership of office properties.
"These are office condominiums, in good properties that come with amenities. Signature Offices is completely differentiated from the strata product, where we are looking at a minimum of a ₹100 crore cheque size, going all the way up to a ₹1000 crore through the sale of entire floors in our buildings," Sidharth Menda, member, supervisory board and managing director, RMZ, told Mint.
Menda said they are talking to the top 1,500 family offices, who are seasoned and discerning investors. “We have seen demand from family offices wanting to invest in a real estate opportunity that gives them annuity income."
"With this product, when they directly own the asset, the mark-to-market premium that they receive each time a tenant rolls over ends up being higher with this,” he added.
Manage leasing
Even after the sale, RMZ will continue to manage the leasing of the office spaces in the buildings and occupier relations, and handle the overall asset management.
“We're also ensuring that the same customer that comes to us to lease an RMZ product is considering the Signature Office product as well, because they know that RMZ is in control of the asset. That gives our investors a lot of comfort,” Menda said.
Earlier this year, Signature Offices sold office spaces in under-construction buildings to investors and funds for around ₹2500 crore, in Pune and Bengaluru.
Going forward, in financial year 2027, the developer wants to launch inventory to sell in cities such as Mumbai and Hyderabad as well.
Earlier this year, RMZ also entered into an equal joint venture with property developer Signature Global (India) Ltd to develop a commercial project in Gurugram, with the former infusing ₹1,293 crore for a 50% stake.
Family offices typically treat real estate as an integral part of their investment strategy. They view real estate as a source of income, diversification, and allocate capital across different forms: direct ownership of premium assets, participation in real estate investment trusts (Reits) for liquidity, and exposure to private real estate funds for higher returns.
India currently has the sixth-largest ultra-high-net-worth individual population in the world, property advisory Knight Frank said in a recent report.
The population of ultra-rich individuals is estimated to rise by 27% from 19,877 in early 2026 to 25,217 by 2031, underscoring its growing role in the global wealth landscape, as per Knight Frank's Wealth Sizing Model.