Brookfield to invest $1 billion to build Asia's largest GCC in Mumbai's Powai

Economic Times
Economic Times
23m ago • 1 views
Brookfield will invest $1 billion to build Asia’s largest GCC in Mumbai, creating 30,000+ jobs by 2029 with a 20-year lease for a multinational bank.
Brookfield to invest $1 billion to build Asia's largest GCC in Mumbai's Powai
A What happened
Brookfield Asset Management plans to develop Asia’s largest global capability centre in Mumbai’s Powai, investing $1 billion to create a 2 million sq ft facility on 6 acres. The project, due by 2029, will generate over 30,000 jobs and is backed by a 20-year lease agreement with a multinational bank. This aligns with Maharashtra government's incentives to boost skilled employment and economic growth through new GCC policies. The centre will use 100% green power, supporting environmental sustainability. This development complements Brookfield's broader investment portfolio in India, including a $12 billion MoU with Mumbai Metropolitan Region Development Authority and other urban mixed-use projects.
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Key insights

  • 1

    Strategic shift to global capability centres: The development signals Maharashtra's deliberate strategy to attract large-scale, high-value multinational operations that generate skilled employment and economic growth.

  • 2

    Real estate as a catalyst for economic hubs: Brookfield's investment underscores the role of large-scale, quality real estate projects in shaping Mumbai's position as a financial and innovation centre.

  • 3

    Sustainability commitment in commercial real estate: Commitment to 100% green power shows increasing integration of environmental sustainability in India's corporate infrastructure development.

Takeaways

Brookfield's investment in Mumbai’s Powai GCC exemplifies how infrastructure and policy converge to enhance India’s global business position and sustainability standards.

Topics

Business & Markets Real Estate Economy World & Politics Policy & Regulation Climate & Environment Sustainability