Bengaluru-based real estate developer RMZ Corp. is planning to completely move out from the residential business as it sets out on an expansion drive to boost its commercial portfolio across major cities in the country. Backed by Qatar Investment Authority, the company is in the process of rapidly expanding its commercial real estate business as it gears up to launch REITs (Real Estate Investment Trusts) in the next two years. It is actively looking to acquire office assets in different parts of the country.
Govindraj said the residential business currently accounts less than 10% to its overall business. The company had entered into the housing business in 2011 under the brand RMZHomes.
Read more: Livemint