Brookfield eyes co-living spaces; in talks with MIAL to lease 15 acres land

Brookfield owns over 25 million sq ft of commercial property in Mumbai and other cities. It also bought Hotel Leela's assets last year for Rs 3,950 crore

Canada-based Brookfield Asset Management is entering the co-living spaces segment with a new brand, according to sources in the know.

The co-living segment is a growing trend globally, where many people share a common accommodation.

Brookfield is in advanced talks with Mumbai International Airport (MIAL) to lease 15 acres of airport land close to ITC Hotel in Andheri East (Mumbai), said sources.

Apart from a co-living property, the investor is also planning a commercial property on the plot, said sources.

Brookfield is expected to pay some upfront money and the remaining will be on a revenue-sharing basis with MIAL, sources