Brookfield to set up large GCC for MNC bank in Mumbai involving $1 billion investment

Brookfield has announced to develop a Global Capacity Centre (GCC) involving investment of $1 billion on 6-acres plot in Powai, Mumbai which will be leased to a multinational bank.

With a total lettable area of 2 million square feet, this facility will be leased for a 20-year term, making it Asia’s largest such project.

The project, to be completed by 2029 is expected to create more than 30,000 jobs. It is being developed through an agreement between Mumbai Metropolitan Region Development Authority (MMRDA) and a venture led by Brookfield along with its partner, B.S. Sharma.

Chief Minister Devendra Fadnavis said, “Maharashtra’s continued focus on talent, infrastructure and a supportive business environment is strengthening the State’s position as a destination for global capability centres.”

“The new GCC Policy we announced earlier this year, builds on this momentum and is designed to attract large-scale, high-value operations that generate skilled employment and long-term economic growth. Developments such as these reflect the growing confidence in Maharashtra’s trajectory, and we remain committed to ensuring that global enterprises find a stable, future-ready ecosystem as they expand their presence here,” he said.

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.”