Brookfield to Invest $1 Billion to Build Asia’s Largest GCC in Maharashtra

Brookfield Asset Management has announced a major investment of $1 billion to develop Asia’s largest Global Capability Centre (GCC) in Mumbai’s Powai. The project will cover 2 million square feet also support a multinational bank for a long-term 20-year period. It will expected to create over 30,000 jobs by 2029. This development strengthens Mumbai’s position as a leading GCC hub and reflects the confidence global companies have in Maharashtra’s business environment ecosystem.

Project Overview

• Brookfield’s infrastructure arm will develop the project across 6 acres, delivering 2 million sq ft of Grade-A workspace.
• The campus has already secured a 20-year lease from a leading multinational bank, underscoring strong global confidence in India’s GCC capabilities.
• Built under an agreement between the Mumbai Metropolitan Region Development Authority (MMRDA) and a Brookfield-led venture with partner B. S. Sharma, the project will follow market-leading sustainability norms, committing to 100% green power sourcing.
• Once operational, it will be Asia’s largest single GCC development, enhancing Mumbai’s appeal as a deep-talent, high-value services destination.

Maharashtra Government Vision

Maharashtra Chief Minister Devendra Fadnavis welcomed the investment, highlighting the state’s focus on talent, infrastructure, and business-friendly policies. In 2025, the state introduced a dedicated GCC Policy (valid till 2029–30), targeting,

• 400 new GCCs
• Over 400,000 high-skilled jobs
• ₹50,600 crore in incremental investment

Incentives under the policy include land allotment support, capital subsidies, and operational reimbursements. Brookfield’s decision aligns with this strategy, reinforcing Maharashtra’s ambition to attract large-scale, innovation-driven global operations.

Why Mumbai Chosen?

• Mumbai has rapidly evolved as a strategic GCC centre, particularly for the BFSI (Banking, Financial Services, and Insurance) sector.
• According to Savills India, from 2020–2024, Mumbai accounted for 8% of GCC office leasing, with Pune adding another 14%, together contributing 22% of national GCC absorption.
• Mumbai led the country in BFSI GCC leasing, despite Bengaluru having a larger BFSI talent pool.

What Its Strengthens

For Maharashtra, the campus strengthens,

• Job creation in data science, financial services, cloud engineering, cybersecurity, and emerging technologies
• The state’s visibility as a global hub for enterprise transformation
• Mumbai’s competitive edge against Bengaluru, Hyderabad, and Pune

Key Takeaways

• Brookfield to invest $1 billion in Powai to develop Asia’s largest GCC.
• 2 million sq ft campus across 6 acres, leased to a multinational bank for 20 years.
• Project to create over 30,000 jobs and complete by 2029.
• Maharashtra’s GCC Policy 2029-30 targets 400 GCCs and 400,000 high-skilled jobs.
• Brookfield aims to expand India investments to $100 billion within 5 years.