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Brookfield Properties is set to invest over USD 1 billion in Maharashtra to build a 2 million sq ft global capability centre, expected to be Asia's largest. The facility will create over 15,000 direct jobs and around 30,000 indirect jobs. Active in India for 15 years, Brookfield manages USD 30 billion in assets and plans to grow this to USD 100 billion in five years. Maharashtra's GCC policy, aimed at generating 4 lakh jobs, is focusing on Mumbai and Pune, with the new facility planned for Powai.
Mumbai's Chief Minister Devendra Fadnavis announced that Brookfield Properties is planning to invest over USD 1 billion to establish a global capability centre (GCC) in Maharashtra. During discussions with senior Brookfield executives, the plans were confirmed for a 2 million sq ft facility, which is expected to be the largest in Asia, and potentially the world. Advertisement
The facility is projected to generate more than 15,000 direct jobs and support around 30,000 additional indirect roles. Fadnavis highlighted that this single project alone will create approximately 45,000 employment opportunities once operational. A formal agreement between the state government and Brookfield is expected to be signed in the near future.
Brookfield Asset Management has been active in India for 15 years, with assets under management (AUM) currently at around USD 30 billion across sectors such as infrastructure, real estate, renewable energy, and private equity. Earlier this year, the company set a target to triple its AUM in India to USD 100 billion over the next five years.
The state government, which introduced a dedicated GCC policy earlier this year aimed at generating 4 lakh new jobs, is prioritizing the Mumbai and Pune regions for such initiatives. According to officials, the new Brookfield facility will be located in Powai, a prominent suburban hub.
Global capability centres are offshore units of multinational companies that manage and support global operations. Firms like Brookfield typically create real estate spaces specifically designed for these operations, which are then leased to other companies.
Source Reuters
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