Mumbai: Brookfield Asset Management will invest $1 billion to develop Asia’s largest global capability centre campus in Mumbai’s Powai.
The New York-based alternative asset manager announced that the project will be developed on a six-acre site with a total built-up area of around 2 million square feet available for leasing.
The development will house a global capability centre for a multinational bank under a 20-year lease arrangement. The project is expected to be completed by 2029 and is projected to generate more than 30,000 jobs, significantly boosting employment in the region.
Partnership with MMRDA
The project is being developed through an agreement between the Mumbai Metropolitan Region Development Authority and a venture led by Brookfield in partnership with B S Sharma. Brookfield’s infrastructure arm in Canada is leading the development, reflecting its long-term commitment to large-scale commercial infrastructure in India.
Boost to Maharashtra’s GCC ecosystem
The Maharashtra government said the project underlines the state’s strong focus on talent development, infrastructure creation, and a supportive business environment. It added that such large investments reflect growing confidence in Maharashtra’s growth trajectory and reinforce its position as a preferred destination for global capability centres.
According to the state leadership, the government remains committed to providing a stable and future-ready ecosystem to support the expansion plans of global enterprises in the state.
Confidence in Mumbai’s business environment
Brookfield said the development highlights the confidence global businesses have in Maharashtra and Mumbai’s pro-investment environment. The firm pointed to the state’s emphasis on infrastructure development, ease of doing business, and availability of skilled talent as key drivers attracting multinational companies to set up and expand GCC operations.
Focus on sustainability
The upcoming campus will be built to market-leading sustainability standards. Brookfield said the project will source 100 per cent green power, aligning with global environmental goals and strengthening Mumbai’s appeal as a sustainable business hub.
Strategic importance
Senior leadership at Brookfield said the scale of the Powai project reinforces Maharashtra’s leadership position as a major global capability centre hub for large multinational companies. The firm added that the development would further enhance Mumbai’s standing as one of Asia’s premier destinations for GCC investments.
