Brookfield plans to invest over $1 billion to develop Asia’s largest Global Capability Centre in Mumbai’s Powai. The project, expected to be completed by 2029, reinforces India’s position as a global GCC hub and highlights how large-scale GCC investments are driving sustained demand for office real estate.
Global alternative asset manager Brookfield is preparing to invest more than $1 billion (around Rs 9,000 crore) to develop a large-scale Global Capability Centre in Mumbai, underlining its growing confidence in India’s long-term economic and talent potential. The proposed GCC, expected to be Asia’s largest, will be developed on a six-acre site in Powai through an agreement between the Mumbai Metropolitan Region Development Authority (MMRDA) and a venture led by Brookfield with partner B S Sharma. The project is scheduled for completion by 2029 and is estimated to generate over 30,000 jobs.
A Landmark GCC for a Global Bank
According to Brookfield, the Powai development will house the largest GCC for a marquee multinational bank under a 20-year long-term arrangement. This scale and tenure reflect how GCCs are no longer short-term cost-saving centres, but strategic, mission-critical operations for global enterprises. Designed to support advanced technology, AI-led workflows, and research-driven functions, the project further strengthens Mumbai’s position as a premium destination for high-value office developments.
India’s Expanding GCC Footprint
GCCs are offshore hubs set up by multinational corporations to tap into cost efficiencies and deep talent pools while building specialized capabilities across AI, engineering, and R&D. Analysts at Zinnov note that India already employs over 1.9 million professionals across these domains, making it one of the world’s most attractive GCC destinations. Between early 2024 and late 2025 alone, nearly 110 new GCCs were established in the country. While US-based firms continue to lead, companies from the UK, Germany, Japan, and Denmark have steadily expanded their presence in India, driven less by cost arbitrage and more by depth of capabilities.
Office Real Estate Gets a GCC Push
The rapid expansion of GCCs has become a key growth driver for India’s commercial office real estate sector. Rating agency ICRA has highlighted GCC-led demand as a structural positive for office absorption over the past few years. Large occupiers such as Samsung, Microsoft, JP Morgan Chase, and Bosch have already committed significant capital to build and expand GCC operations across major Indian cities, supporting long-term leasing visibility for office landlords.
Brookfield’s Deepening Mumbai Play
Brookfield is among the largest office owners in India, with nearly 55 million sq. ft. of assets across seven cities. Its Mumbai exposure alone exceeds $4 billion in real estate projects. Earlier this year, the firm signed a memorandum of understanding with MMRDA to attract $12 billion in investments into the Mumbai Metropolitan Region. In June 2025, Brookfield also acquired a 2.1-acre parcel in Bandra-Kurla Complex (BKC) for a high-quality mixed-use development, further expanding its footprint in the city.
Policy Support and the Road Ahead
The Maharashtra government has positioned GCCs as a key pillar of economic growth. “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,” said Chief Minister Devendra Fadnavis. Currently, around 92% of India’s GCCs are concentrated in six cities, including Mumbai, NCR, Bengaluru, and Hyderabad. With marquee investments like Brookfield’s Powai project, Mumbai’s role in India’s GCC and office real estate story is set to grow even stronger.
