A multinational bank has signed a 20-year lease for 2 million square feet in Powai — the kind of commitment that treats India as permanent infrastructure, not a pilot.
Brookfield Asset Management is developing a GCC campus in Powai, Mumbai, backed by an investment of over $1 billion. The facility spans 2 million square feet across six acres and will house a major multinational bank under a 20-year lease. Brookfield has not named the tenant.
The project is being built through an agreement between MMRDA and a Brookfield-led venture. Completion is targeted for 2029.
What’s being built
At 2 million square feet, this is the largest GCC facility announced in Asia. The campus will run entirely on green power. Maharashtra Chief Minister Devendra Fadnavis put the employment impact at 45,000 roles — 15,000 direct jobs and 30,000 indirect.
The lease tells the real story
Most GCC office leases run five to ten years. A 20-year commitment at this scale means the tenant bank is not testing India — it is embedding here. That distinction matters. Companies that sign decade-long leases are building global operating infrastructure. Companies that sign 20-year leases are building headquarters.
Brookfield’s India position
Brookfield already holds over $4 billion in Indian real estate. Earlier this year it signed an MOU with MMRDA to bring $12 billion into the Mumbai Metropolitan Region. The Powai GCC campus is the most visible piece of that broader commitment.
Maharashtra’s play
Mumbai has historically sat behind Bengaluru and Hyderabad in GCC activity. The state’s GCC policy — introduced this year and running to 2029-30 — targets 400 new centres and 400,000 jobs, backed by land support, capital subsidies, and fast-track approvals. The Brookfield project is the largest single investment placed on that policy so far.
Brookfield Asset Management is headquartered in New York and manages approximately $30 billion in assets across India.
