Brookfield Asset Management has announced plans to invest $1 billion to develop Asia’s largest global capability centre (GCC) in Mumbai, reinforcing the city’s growing stature as a major hub for multinational back-office and technology operations. The proposed development will come up in Powai, one of Mumbai’s most premium business districts, and is scheduled for completion by 2029.The 2-million sq ft GCC campus will be developed on a six-acre land parcel in Powai, close to IIT Bombay. According to Brookfield, the facility will generate more than 30,000 high-skilled jobs and will be leased for 20 years to a multinational banking major for its global capability centre operations. The project will be executed through an agreement between the Mumbai Metropolitan Region Development Authority (MMRDA) and a venture led by Brookfield in partnership with BS Sharma.The announcement follows Maharashtra’s rollout of a dedicated GCC policy earlier this year, valid until 2029–30. The policy targets the establishment of 400 GCCs across the state, creation of over 4,00,000 jobs and incremental investments of Rs 506 billion, supported by incentives such as land allotment, capital subsidies and reimbursements.Brookfield said the development reflects growing global confidence in Maharashtra and Mumbai’s investment ecosystem, backed by infrastructure expansion, ease of doing business and access to skilled talent. The Powai campus will be developed to market-leading sustainability standards and will source 100 per cent green power, further strengthening Mumbai’s position as a preferred GCC destination.Commenting on the project, Ankur Gupta, Head – Asia Pacific and Middle East, Real Estate, Brookfield, said, “The scale of this project validates Maharashtra’s leadership position as a GCC hub for large multinational companies.”Brookfield is one of India’s largest office owners, with around 55 million sq. ft. across seven cities, including a significant grade-A portfolio under Brookfield India REIT. The company has invested over $27 billion in India across real estate, infrastructure and clean energy, and has announced plans to treble its India investments to $100 billion over the next five years.News source: The New India Express