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Brookfield Properties has entered into a built-to-suit lease agreement with JPMorganChase to develop a new office tower of around 1.3 million sq ft in Powai, Mumbai. The project will come up on a six-acre land parcel recently acquired by a Brookfield Asset Management private real estate fund and will be developed in collaboration with the Mumbai Metropolitan Region Development Authority and a venture partner. Designed as a state-of-the-art workplace, the facility is expected to consolidate several JPMorganChase teams currently spread across Mumbai. The office tower is scheduled for completion by 2030, reinforcing India's growing stature as a global capability centre hub.
Brookfield Properties has announced plans to develop a large built-to-suit office tower for JPMorganChase in Mumbai, marking a significant expansion of its commercial real estate footprint in India. The proposed development will span approximately 1.3 million sq ft and will be located in Powai on a six-acre site acquired by a Brookfield Asset Management private real estate fund. Advertisement
The project will be executed through an agreement involving the Mumbai Metropolitan Region Development Authority and a venture led by Brookfield, along with its local partner. Once completed, the new tower will bring together several of JPMorganChase's Mumbai-based teams into a single, modern workplace designed to meet global standards of sustainability, efficiency and employee wellbeing. The development is targeted for completion by 2030.
Brookfield Asset Management, the majority owner of Brookfield Properties, is committing substantial capital to deliver the project, underlining its long-term confidence in India's office market. The transaction also strengthens Brookfield's global relationship with JPMorganChase and reflects continued demand from multinational corporations for high-quality, scalable office infrastructure in key Indian cities.
The development highlights India's growing prominence as a preferred destination for global capability centres, supported by a deep talent pool, improving infrastructure and sustained institutional investment. Brookfield Properties currently manages more than 55 million sq ft of real estate assets across India, with over 41 million sq ft already operational, and continues to actively expand its presence across major commercial hubs.
Source - PTI
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