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Brookfield to invest $1-B to develop building in Mumbai’s Powai for MNC Bank's GCC

Economic Times  

Brookfield Asset Management is planning to invest USD 1 Billion to develop a building in Mumbai's. Powai area that will host a global capability centre (GCC) for a multinational bank. The project is led by Brookfield along with its partner B.S. Sharma, undertaken through an agreement with the Mumbai Metropolitan Region Development Authority (MMRDA).The building will come up on a 6-acre land parcel in Powai, with a total leasable area of 2 mn sq ft. The facility will be developed with a 20-year lease tenure and a commitment to source 100% green power. The development is expected to be completed by 2029.Brookfield operates 55 million sq ft of office space across seven cities in India. In 2024, Brookfield commissioned a build-to-suit tower in Pune for a financial services corporation’s GCC. Earlier, it signed a pact with MMRDA for USD 12 Billion in investments in the Mumbai Metropolitan Region and acquired a 2.1-acre parcel in Bandra Kurla Complex (BKC) for mixed-use development in June.