Indian real estate and infrastructure firm RMZ Group said on Monday it plans to invest more than $35 billion over the next five years and is considering an initial public offering to raise permanent, long-term capital.
The investment will be used for co-location data centres, AI factories, mixed-use commercial office developments and a return to residential projects, the privately-held firm said, adding that the expansion will be funded through a mix of debt and equity.
Co-location data centres allow customers to house their own servers, with the operators providing power, cooling, security and network connectivity.
RMZ did not provide further details on the potential IPO.
The investment plan comes as global technology firms and Indian conglomerates invest billions of dollars in AI infrastructure and data centres, turning India into one of the most fiercely contested markets for computing capacity.
India currently generates about 20% of the world’s data but accounts for just 2% of global data centre capacity, RMZ said. It is targeting 1.5 gigawatts of co-location capacity in the country at a capital outlay of $12 billion to $15 billion over five years.
The remaining investment will go into commercial real estate, led by office developments catering to global capability centres, it said.
RMZ operates across major Indian cities, including Bengaluru, Mumbai and Hyderabad.
Reuters
