Alternative investment major Brookfield announced that it is slated to invest upto $1 billion to develop what it calls Asia's largest global capability centre (GCC) in Mumbai's Powai suburb, with the property to span a leasable area of 2 million square feet. A large multinational bank is set to occupy the building, set for completion in 2029, Brookfield added, although it did not identify the bank.

The six-acre land parcel is being developed by a Brookfield venture, with its partner BS Sharma, in an agreement with the Mumbai Metropolitan Region Development Authority (MMRDA). A release stated that the GCC is expected to create more than 30,000 jobs.

"The scale of this project validates Maharashtra’s leadership position as a GCC hub for large multinational corporates. This announcement rei

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