- Brookfield Asset Management to invest $1 billion in Mumbai global capability center
- The center will host a multinational bank for a 20-year term
- Project covers six acres and offers 2 million square feet of office space
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.
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