Canadian investor and developer Brookfield on Friday said it will develop a two million sq ft office project in Mumbai’s Powai district, investing about $1 billion (more than ₹9,000 crore) to build on a six-acre plot.
The development will house a global capability centre (GCC) for a multinational bank under a 20-year agreement, which Brookfield said will make it the largest such project in Asia. The firm did not disclose the name of the bank.
Key Deal Details
The project is being executed under an agreement with the Mumbai Metropolitan Region Development Authority (MMRDA) and a venture led by Brookfield and its partner, BS Sharma. The project completion is targeted for 2029, and the development is expected to generate more than 30,000 jobs.
The project will source 100 % renewable power. In 2024, Brookfield had commissioned a similar build-to-suit tower in Pune, Maharashtra for the GCC of a large financial services company.
Reinforcing Brookfield’s Dominance
Brookfield holds about $4 billion in real estate assets in Mumbai. Earlier this year, it signed an MoU with the MMRDA to bring in $12 billion of investment into the region, and in June 2025 acquired a 2.1 acre parcel in the Bandra Kurla Complex for a mixed-use project.
Ankur Gupta, deputy chief investment officer and head of Asia Pacific and Middle East, real estate, Brookfield, said, “We are pleased to undertake this iconic development, setting a new benchmark for the office sector in Asia.”
Brookfield is among India’s largest office owners, with nearly 55 million sq ft across seven cities. IIt bought a 4.5 million sq ft commercial property portfolio from Hiranandani brothers in 2016 for $1 billion.
