Brookfield Properties today announced a built-to-suit lease with JPMorganChase. The development will be built on a 6-acre project located in Powai, Mumbai, recently acquired by a Brookfield Asset Management private real estate fund. It will be developed through an agreement between the Mumbai Metropolitan Region Development Authority (MMRDA) and a venture led by Brookfield along with its partner, B.S. Sharma.
Slated for completion by 2030, the new campus will elevate the workplace experience by bringing together many of JPMorganChase’s Mumbai employees into a state-of-the-art facility. As the majority owner, Brookfield Asset Management is committing significant capital investment to develop a world-class office tower for JPMorganChase and its teams. The development will be built to market-leading sustainability standards, with a commitment to source 100% green power. It reinforces Brookfield Properties’ philosophy of developing sustainable, and Grade A office assets in prime business districts. The scale of this transaction also highlights India’s position as a leading global capability center (GCC) hub.
Ankur Gupta, Deputy Global CIO and Head of Asia Pacific and Middle East, Real Estate, Brookfield Asset Management, said, “We are pleased to expand our global relationship with JPMorganChase through this transaction. This landmark agreement reinforces India’s position as a leading global capability center destination. It reflects the confidence that long-term partners place in Brookfield Properties’ ability to deliver Grade A, sustainable office assets at scale. As one of the largest office owners and operators in India, we remain focused on operational excellence and on supporting the evolving real estate needs of JPMorganChase.”
Brookfield Properties is one of the largest office operators in India with approximately 55 million square feet across seven cities. Over the years, Brookfield Properties has demonstrated a strong track record of developing and operating high-quality, Grade-A assets with market leading specifications. Its existing portfolio of commercial properties are strategically located within Powai, a 250-acre integrated township with high-quality residential developments, high street retail and social infrastructure, the destination provides a live-work-play ecosystem and excellent transport connectivity. The proposed development benefits from its strategic location within Powai’s established mixed-use ecosystem, offering strong connectivity, and a thriving talent catchment that continues to make it one of Mumbai’s most sought-after urban districts.
