Brookfield Invests $1 Billion to Develop Mega Office Complex in Mumbai

Canadian investor and developer Brookfield announced on Friday that it will develop a two million square foot office project in Mumbai’s Powai district, investing approximately $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, making it the largest such project in Asia. The firm did not disclose the name of the bank.

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 is targeted for completion by 2029 and is expected to generate over 30,000 jobs.

The project will be 100% powered by renewable energy. In 2024, Brookfield had commissioned a similar build-to-suit tower in Pune, Maharashtra, for the GCC of a large financial services company.

Brookfield holds about $4 billion in real estate assets in Mumbai. Earlier this year, it signed a Memorandum of Understanding (MoU) with the MMRDA to bring in $12 billion of investment into the region. In June 2025, Brookfield 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, stated, “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 square feet of office space across seven cities. In 2016, the company acquired a 4.5 million square foot commercial property portfolio from the Hiranandani brothers for $1 billion.