Global asset management firm Brookfield is set to make one of its largest real estate investments in India by committing over ₹9,000 crore to develop a massive global capability centre (GCC) in Mumbai’s Powai area. The project, which will span 2 million square feet of office space, is expected to become Asia’s largest GCC for a multinational bank and significantly boost Mumbai’s position as a leading global services hub.
The announcement was made by Maharashtra Chief Minister Devendra Fadnavis, who said that the proposed investment would generate substantial employment and reinforce investor confidence in the state’s economic ecosystem. According to the chief minister, discussions between the state government and Brookfield have reached an advanced stage.
“It (investment) will be more than $1 billion. One single project will create 45,000 jobs,” Fadnavis told reporters on the sidelines of an event. He also mentioned that a formal agreement for the project would be signed shortly, pointing out that the two sides had already finalised the project framework.
Brookfield later in a statement confirmed the investment saying it plans to invest over ₹9,000 crore to build a 2 million sq ft GCC facility in Powai, a suburban business district that has emerged as a preferred destination for technology, finance, and consulting firms. The development is being planned as a build-to-suit campus for a multinational banking client, with whom Brookfield has signed a 20-year lease agreement.
The project will be set up on a six-acre land parcel and is slated to yield a lettable area of approximately 20 lakh square feet by 2029. The company has said that the entire power requirement of the facility will be through green energy sources, thus the project is in line with sustainability and net-zero goals that are getting popular among global corporations.
“This development will be the largest GCC facility in Asia,” Brookfield said in its statement, adding that the project would further consolidate Mumbai’s standing as a premier destination for global capability centres.
Brookfield mentioned that the project is being co-created with B S Sharma, and the developmental framework is based on an agreement with the Mumbai Metropolitan Region Development Authority (MMRDA). Brookfield had earlier this year signed a memorandum of understanding (MoU) with MMRDA to invest $12 billion across the Mumbai Metropolitan Region (MMR) over time.
As part of its larger India strategy, Brookfield has kept on deepening its presence in Mumbai. In June 2025, the company bought a 2.1-acre piece of land in Bandra Kurla Complex (BKC) for a mixed-use development, thereby expressing its long-term faith in the commercial real estate market of the city.
Industry experts say the project reflects the growing preference of multinational corporations to consolidate large-scale operations in India through GCCs, which handle functions such as information technology, finance, data analytics, operations, and research and development.
Ankur Gupta, Deputy CIO and Head of Real Estate for Asia Pacific and the Middle East at Brookfield, said the scale of the Powai project highlights Maharashtra’s leadership in the GCC segment.
He mentioned that Brookfield controls real estate assets worth more than $4 billion in Mumbai only, thus ranking the city as one of the firm's most significant global markets. By now, the company is overseeing close to 55 million square feet of high-quality office space in the leading metropolitan areas of India like Mumbai, Pune, Bengaluru, Gurugram, and Hyderabad.
Brookfield’s latest investment builds on its earlier success in Maharashtra. In 2024, the firm commissioned a similar build-to-suit tower in Pune for the GCC of a large financial services company. The strong demand for such facilities, driven by global banks and technology firms, has encouraged developers to focus on large, customised office campuses with long-term lease commitments.
“This project will further strengthen Mumbai’s position as a premier hub for global capability centres,” the company said in its statement.
With India continuing to attract multinational corporations seeking cost efficiency, skilled talent, and operational scale, large GCC developments such as Brookfield’s Powai project are expected to play a key role in shaping the future of the country’s commercial real estate landscape.
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