Mumbai is set to welcome a landmark office development as Brookfield Properties embarks on constructing a 13-lakh-square-foot facility for JPMorganChase in Powai. The project, secured through a built-to-suit lease agreement, represents a significant milestone in Mumbai’s commercial real estate landscape, signalling increased investor confidence and the city’s growing appeal as a global business hub. The tower, expected to be completed by 2030, is part of a six-acre site recently acquired by a Brookfield Asset Management private real estate fund.
The Mumbai Metropolitan Region Development Authority (MMRDA) has collaborated with Brookfield and its partner B S Sharma to facilitate the project. Officials note that the development will consolidate several of JPMorganChase’s Mumbai teams into a single, state-of-the-art office environment, enhancing operational efficiency and employee experience. “This facility underscores Mumbai’s position as a premier financial and corporate centre,” an industry expert said. Brookfield Asset Management, the majority stakeholder in the project, is making a substantial capital commitment to realise the tower. The development is expected to provide a blueprint for large-scale, sustainable commercial projects in the city. An official from Brookfield highlighted that the agreement strengthens its long-term relationship with JPMorganChase and demonstrates confidence in India’s capacity to host global corporate operations.
The Powai project aligns with broader trends in Mumbai’s commercial real estate sector, where demand for Grade A office space continues to rise despite market fluctuations. Analysts point out that premium developments, especially those integrating green building practices and high-quality amenities, are attracting multinational tenants seeking operational flexibility and sustainable workspaces. In India, Brookfield Properties manages around 55 million sq ft of assets across ten cities, of which more than 41 million sq ft is operational. Globally, the company oversees over 370 million sq ft across more than 1,100 properties. This scale of management allows Brookfield to deliver high-quality office environments while integrating sustainability measures such as energy-efficient systems, optimized space utilisation, and low-carbon construction practices.
Market observers note that the Powai tower could set a precedent for future built-to-suit developments in Mumbai, encouraging developers to focus on long-term corporate partnerships. Analysts also highlight the project’s potential to catalyse infrastructure upgrades in the surrounding areas and contribute to a more sustainable urban landscape. As Mumbai continues to consolidate its position as a global financial hub, projects like Brookfield’s Powai tower demonstrate the city’s resilience and evolving real estate ecosystem, providing high-quality commercial space that meets both international standards and local sustainability expectations.
Brookfield Properties Unveils Mumbai Office Project Spanning 13 Lakh Sq Ft For JPMorgan
