RMZ moves with movers

RMZ Corp, the Bangalore-based real estate developer, is expanding to other cities like Chennai, Hyderabad and Pune as the IT and ITeS industry spreads to other locations. Till now a Bangalore-focussed builder, RMZ, according to latest estimates, is developing over a one million square feet in the three cities.

RMZ sources said that the number is continuously rising since their foray into these cities about 18 months ago. They add that the geographical spread-out is on the insistence of their customers in the IT and ITeS segment who prefer RMZ's built-to-suit facilities.

The plan to spread to other areas was natural for the builder as "they are the next growth areas", says Christopher da Costa, executive manager, RMZ Group.

As most of RMZ's clients are those from the IT and ITeS sectors, this has only spurred them on.

In Pune, RMZ Corporation has developed two projects "" RMZ West End and RMZ Icon. RMZ West End is occupied by Convergys and RMZ Icon, which is 3.3 lakh square feet, is occupied by Veritas, a software developer.

In Chennai, the group has developed the RMZ Millennia Business Park which is in two phases. While the first phase is 1.6 lakh sq feet, the second phase is a massive 1.7 million square feet.

In Hyderabad, RMZ has developed a project RMZ Futura with 3.3 lakh square feet.

In Bangalore, the RMZ group has completed three projects "" RMZ Infinity (1.2 million sq ft), RMZ Centennial (6 lakh sq ft) and RMZ NXT (6 lakh sq ft).

"The group provides one car park for every 650-1,000 square feet of office space depending on the project. It has been increasing the ratio in its newer projects," says da Costa.

The latest project of the RMZ Group in Bangalore is the Ecospace.

The project provides for a lot of greenery and enough lung space. "It is in keeping with the trend of many firms nowadays going in for a campus facility," says da Costa.

The builder is yet to look at the housing market, "though RMZ Group might do that at a later date," said da Costa.