Brookfield to Invest ₹9,000 Crore in Developing Asia's Largest Global Capability Centre in Powai, Mumbai

In what is being described as a transformative development for Maharashtra's commercial real estate landscape, Brookfield Asset Management has reportedly announced plans to invest over ₹9,000 crore in developing Asia's largest Global Capability Centre (GCC) in Powai, Mumbai. Industry observers note that the project represents a significant milestone in the state's ambitious efforts to attract multinational corporations and establish Mumbai as a premier hub for financial services and technology innovation.

Project Overview and Key Specifications

According to reports, the upcoming facility will be developed on a 6-acre land parcel in Powai's rapidly evolving commercial corridor. The development is expected to offer approximately 2 million square feet of total leasable space, with completion targeted by 2029. The estimated investment exceeds $1 billion, making it one of the largest single commercial real estate projects in the region.

Sources indicate that a major multinational bank has already signed a 20-year lease agreement to serve as the anchor tenant, underscoring strong institutional confidence in the project. The facility is reportedly planned to operate entirely on green energy, aligning with India's net-zero sustainability ambitions.

Employment Generation and Economic Impact

The GCC is expected to generate over 30,000 employment opportunities, according to industry sources. This includes direct employment across technology, financial services, and operations functions, as well as indirect job creation in support services and allied industries. The development aligns with Maharashtra's comprehensive GCC policy, which reportedly targets the establishment of 400 centres, creation of 4 lakh new jobs, and investments totalling ₹50,600 crore by 2029-30.

Market analysts suggest that this project could significantly contribute to India's office market boom driven by MNC expansion and further strengthen Mumbai's position as a preferred destination for global business services.

Strategic Significance for Mumbai's Commercial Real Estate

Asia's Largest GCC Facility

With 2 million square feet of commercial space, the project is set to become the largest single GCC facility in Asia. Industry experts note that this consolidates India's leadership position in the global business services sector, as GCCs continue to accelerate office space leasing across major Indian metros.

Powai's Transformation as a Tech Hub

The development is expected to reposition Powai as a premium business corridor in Mumbai's eastern suburbs. Analysts observe that the area has already witnessed significant corporate activity, with L&T Innovation Campus redefining office space experience in the locality. The Brookfield project is anticipated to attract further investments and enhance the property ROI potential in Powai.

Green Infrastructure Focus

The development will reportedly adhere to global sustainability standards, consistent with Brookfield's commitment to responsible infrastructure. This approach aligns with the broader trend of Maharashtra leading India in green building certifications and reflects growing corporate preference for environmentally sustainable commercial spaces.

Brookfield's Expanding India Portfolio

The Powai GCC development represents another significant addition to Brookfield's expanding Indian real estate portfolio. The company reportedly manages approximately 55 million square feet of office space across India and has recently completed a custom GCC tower in Pune.

Additionally, Brookfield owns strategic land parcels including holdings in Bandra Kurla Complex (BKC), where major office projects are transforming the commercial landscape. The company is also strengthening its commitment to sustainable development through initiatives like its acquisition of Leap Green for renewable energy expansion.

Government Collaboration and Policy Support

According to reports, the project is being developed in collaboration with the Mumbai Metropolitan Region Development Authority (MMRDA), ensuring seamless integration with regional planning and infrastructure frameworks. This partnership reflects Maharashtra's proactive approach towards attracting global capital and facilitating fast-track clearances for mega projects.

The state government has been actively working to position Mumbai as a global business destination, with MMRDA approved to raise significant funds for infrastructure projects. These initiatives have contributed to Maharashtra attracting its highest FDI in a decade.

Market Outlook and Industry Implications

Real estate analysts suggest that the Brookfield project reinforces Mumbai's status as a top-tier global city for financial and technology services. The development is expected to catalyse job creation and sustainable infrastructure development at scale while potentially driving further interest in commercial real estate investments in Mumbai.

The project also complements broader trends observed in India's office real estate sector, where technology and services expansion continues to drive demand. With similar large-scale investments like Blackstone's $11 billion commitment to Mumbai, the city's commercial real estate market appears poised for significant growth in the coming years.

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