Brookfield Asset Management will invest $1 billion to develop Asia’s largest global capability centre (GCC) in Powai, Mumbai.
The 2 million sq ft campus will be built on a six-acre site and is scheduled for completion by 2029. The project is expected to generate over 30,000 high-skilled jobs and will house a multinational bank’s GCC under a 20-year lease, the New York-based alternative asset manager said.
The development is being undertaken through an agreement between the Mumbai Metropolitan Region Development Authority and a Brookfield-led venture in partnership with B S Sharma.
The Maharashtra government said the investment aligns with the state’s efforts to attract global capability centres through policy support and infrastructure expansion. Earlier this year, the state notified a GCC policy valid till 2029-30, targeting 400 GCCs, 400,000 high-skilled jobs and incremental investments of ₹50,600 crore through incentives such as land support, capital subsidies and reimbursements.
“Maharashtra’s continued focus on talent, infrastructure, and a supportive business environment is strengthening the state’s position as a destination for GCCs,” Chief Minister Devendra Fadnavis said. “Developments such as these reflect growing confidence in the state’s trajectory, and we remain committed to ensuring that global enterprises find a stable, future-ready ecosystem as they expand their presence here.”
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Brookfield said the development reflects global companies’ confidence in Maharashtra and Mumbai’s business environment, supported by infrastructure expansion, ease of doing business and access to talent. The campus will be built to sustainability standards and will source 100 per cent green power.
“The scale of this project validates Maharashtra’s leadership position as a GCC hub for large multinational companies,” said Ankur Gupta, Deputy Chief Investment Officer and Head of Asia Pacific and Middle East real estate at Brookfield.
Brookfield commissioned a build-to-suit tower in Pune last year for a financial services GCC. In Mumbai, the firm owns real estate assets valued at over $4 billion. Across India, Brookfield operates around 55 million sq ft of office space in seven cities, including 29.1 million sq ft of grade-A assets under Brookfield India REIT.
In May, the company announced plans to increase its India investments to $100 billion over the next five years. Its existing exposure includes $12 billion in infrastructure assets, $12 billion in real estate and $3 billion in clean energy. Brookfield has also signed an MoU with MMRDA to invest $12 billion in the Mumbai Metropolitan Region and acquired a 2.1-acre plot in Bandra Kurla Complex for a mixed-use project.
Property consultancy Anarock said office rents in Powai range between ₹110 and ₹180 per sq ft a month. Savills India data shows GCCs leased 112 million sq ft of office space between 2020 and 2024, with Mumbai and Pune accounting for 22 per cent of the total. India is projected to see 180 million sq ft of office absorption through GCCs during 2025–30.
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