NewsOrders & DealsBrookfield to Build 13-Lakh-Sq-Ft Office Tower for JPMorgan in Mumbai's PowaiBrookfield to Build 13-Lakh-Sq-Ft Office Tower for JPMorgan in Mumbai's Powai
Brookfield Properties has signed a built-to-suit lease agreement with JPMorgan Chase for a 13 lakh sq ft office tower in Powai, Mumbai. The project, set to be completed by 2030, will consolidate JPMorgan Chase's Mumbai operations. The development is on a six-acre site acquired by a Brookfield Asset Management private real estate fund, in collaboration with MMRDA and partner B S Sharma. This agreement expands the global partnership between Brookfield and JPMorgan Chase, highlighting India's importance as a corporate hub.
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Brookfield Properties has entered into a significant built-to-suit lease agreement with JPMorgan Chase to develop a comprehensive office tower in Mumbai. The announcement, made on Wednesday, marks a major expansion of the companies' global partnership and underscores India's growing importance as a corporate hub.
Project Specifications and Location
The upcoming development will feature substantial scale and strategic positioning in Mumbai's commercial landscape:
| Parameter | Details |
|---|---|
| Total Area | 13 lakh sq ft (1.3 million sq ft) |
| Location | Powai, Mumbai |
| Site Size | Six-acre project |
| Completion Timeline | 2030 |
| Development Type | Built-to-suit lease agreement |
The office tower will be developed on land recently acquired by a Brookfield Asset Management private real estate fund. The project involves a collaborative agreement between the Mumbai Metropolitan Region Development Authority (MMRDA) and a venture led by Brookfield, along with its partner B S Sharma.
Strategic Impact and Investment
The facility is designed to consolidate JPMorgan Chase's Mumbai operations under one roof. According to the official statement, the upcoming facility will bring together many of JPMorgan Chase's Mumbai employees into a state-of-the-art workplace. Brookfield Asset Management, as the majority owner, is committing significant capital investment to develop this dedicated office tower for JPMorgan Chase and its teams.
Ankur Gupta, Deputy Global CIO and Head of Asia Pacific and Middle East, Real Estate at Brookfield Asset Management, emphasized that the company has expanded its global relationship with JPMorgan Chase through this transaction. He noted that this landmark agreement reinforces India's position as a leading global capability centre destination and reflects the confidence that long-term partners place in Brookfield Properties' ability to deliver Grade A, sustainable office assets at scale.
Brookfield's Market Position
Brookfield Properties maintains a strong presence in the Indian real estate market as a leading global manager of high-quality real estate assets. The company operates across multiple real estate sectors including office, retail, multifamily, hospitality, and logistics.
| Metric | Global Scale | India Operations |
|---|---|---|
| Properties Managed | 1,100+ properties | 10 major cities |
| Total Area | 370+ million sq ft | 55 million sq ft |
| Operational Status | Global markets | 41+ million sq ft operational |
The company manages its extensive portfolio on behalf of Brookfield, one of the largest asset managers in the world. This Mumbai project represents a continuation of Brookfield's strategy to develop premium office spaces for major global corporations in key Indian markets.
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