Brookfield Will Invest $1 Billion In Capability Center In Mumbai

Brookfield Asset Management plans to invest $1 billion in a global capability center in Mumbai, and has already lined up a big multinational bank to occupy the space. 

The investment underscores the rise of India as a hub for so-called global capability centers, which international companies and banks often use for back-office services. 

The project will be jointly developed with the Mumbai Metropolitan Region Development Authority and will house a multinational bank over a 20-year term.

It will cover around six acres and create around 2 million square feet of office space, Brookfield said in a statement, adding that it will be Asia’s largest such project. 

Brookfield owns $4 billion of real estate projects in Mumbai.