Brookfield Invests $1 Billion to Build Asia’s Largest GCC in Maharashtra
The Maharashtra government has announced a significant $1 billion investment by Brookfield, a leading real estate firm, to build Asia’s largest Global Capability Centre (GCC) in the state. This investment is a testament to the state’s ongoing efforts to attract global companies through policy support and infrastructure expansion. Earlier this year, Maharashtra notified a GCC policy valid till 2029-30, aiming to establish 400 GCCs, create 400,000 high-skilled jobs, and attract incremental investments of ₹50,600 crore through various incentives such as land support, capital subsidies, and reimbursements.
Chief Minister Devendra Fadnavis emphasized the state’s commitment to fostering a supportive business environment. “Maharashtra’s continued focus on talent, infrastructure, and a supportive business environment is strengthening the state’s position as a destination for GCCs,” he said. “Developments such as these reflect growing confidence in the state’s trajectory, and we remain committed to ensuring that global enterprises find a stable, future-ready ecosystem as they expand their presence here.”
Brookfield’s investment underscores the confidence of global companies in Maharashtra and Mumbai’s business environment. The new GCC will be built to sustainability standards and will source 100 per cent green power. Ankur Gupta, Deputy Chief Investment Officer and Head of Asia Pacific and Middle East real estate at Brookfield, highlighted the significance of the project. “The scale of this project validates Maharashtra’s leadership position as a GCC hub for large multinational companies,” he stated.
Brookfield has a strong presence in India, with a diverse portfolio of real estate assets. The firm commissioned a build-to-suit tower in Pune last year for a financial services GCC and owns real estate assets valued at over $4 billion in Mumbai. Across India, Brookfield operates around 55 million sq ft of office space in seven cities, including 29.1 million sq ft of grade-A assets under Brookfield India REIT.
In May, Brookfield announced plans to increase its India investments to $100 billion over the next five years. The company’s existing exposure includes $12 billion in infrastructure assets, $12 billion in real estate, and $3 billion in clean energy. Brookfield has also signed an MoU with MMRDA to invest $12 billion in the Mumbai Metropolitan Region and acquired a 2.1-acre plot in Bandra Kurla Complex for a mixed-use project.
Property consultancy Anarock reported that office rents in Powai range between ₹110 and ₹180 per sq ft a month. Data from Savills India shows that GCCs leased 112 million sq ft of office space between 2020 and 2024, with Mumbai and Pune accounting for 22 per cent of the total. India is projected to see 180 million sq ft of office absorption through GCCs during 2025–30.
This investment by Brookfield is expected to further boost Maharashtra’s economy and attract more global companies to the state, contributing to the creation of high-skilled jobs and the development of a sustainable business ecosystem.
