Brookfield Properties has announced a built-to-suit (BTS) lease agreement with JPMorganChase for an upcoming ~1.3 million sq ft office campus in Powai, Mumbai. The development will be built on a 6-acre site recently acquired by a Brookfield Asset Management private real estate fund and will be developed under an agreement between the Mumbai Metropolitan Region Development Authority and a Brookfield-led venture with partner B S Sharma.

Scheduled for completion by 2030, the campus will consolidate a significant portion of JPMorganChase’s Mumbai workforce into a state-of-the-art workplace. As majority owner, Brookfield Asset Management will commit substantial capital to deliver a Grade A office tower built to market-leading sustainability standards, including sourcing 100 per cent green power. The transaction underscores India’s positioning as a leading global capability centre (GCC) hub.

Commenting on the deal, Ankur Gupta, Deputy Global CIO and Head of Asia Pacific and Middle East, Real Estate, Brookfield Asset Management, said, “We are pleased to expand our global relationship with JPMorganChase through this transaction… It reflects the confidence that long-term partners place in Brookfield Properties’ ability to deliver Grade A, sustainable office assets at scale.”

Brookfield Properties operates about 55 million sq ft of office space across seven Indian cities, with a significant presence in Powai’s integrated live-work-play ecosystem. CBRE acted as real estate advisor, while Khaitan & Co served as transaction advisor.