Thu Jan 30 05:39:44 IST 2025: ## Brookfield to Invest ₹1.03 Lakh Crore in Mumbai Infrastructure

**Mumbai, January 30, 2025** – Toronto-based investment firm Brookfield Corporation has pledged a massive ₹1.03 lakh crore (approximately $12.5 billion USD) investment in Mumbai’s infrastructure development, marking the largest single commitment at this year’s World Economic Forum in Davos. The five-to-seven-year investment plan, announced by the Mumbai Metropolitan Region Development Authority (MMRDA), will encompass various projects including metro lines, roads, bridges, data centers, and Global Capability Centers.

The investment surpasses commitments from other firms, including Blackstone and Temasek, who each signed MoUs for $5 million. The MMRDA highlighted that the funds will also be allocated to developing KSC New Town (323.24 sq km), Special Planning Areas (SPAs) in north (1,006.76 sq km) and south MMR (673.33 sq km), focusing on residential and commercial real estate, logistics, and sustainable infrastructure.

MMRDA stated that this initiative aligns with Maharashtra’s goal of becoming a $1 trillion economy and contributes to India’s ambition of reaching a $5 trillion economy. The investment is projected to boost the MMR’s economy to $300 billion and create 3 million jobs by 2030.

While the investment is significant, a Knight Frank report reveals a trend among foreign investors favoring ready assets over under-construction projects. Over 80% of private equity investments in Mumbai real estate in 2024 targeted completed office spaces, with a similar trend observed in warehousing. This preference is driven by the immediate rental income generated by completed properties. The report also notes that future investment is contingent on factors including government spending, currency fluctuations, inflation, and interest rates. In 2024, Mumbai received $2 billion in private equity real estate investment, more than double that of Bangalore.

Read More