NBCC Expands Global Real Estate Presence with Dubai Land Purchase
NBCC (India) Limited has taken a significant step in international real estate by launching its overseas operations in Dubai through NBCC Overseas Real Estate LLC, a wholly-owned subsidiary. This strategic move underscores NBCC's commitment to global expansion and its role as a leading real estate developer.
The NBCC Overseas Real Estate LLC recently purchased a prime land parcel in Dubai Mainland for AED 16 million, including an additional AED 1 million for DLD, broker, and other charges. The land is earmarked for a mixed-use development, with a Gross Floor Area (GFA) of 51,718 square feet. The project is configured with G+2P+8 floors and is expected to generate revenue of around AED 58-60 million.
This development has been facilitated through the support and approvals of the Government of India and the Ministry of Housing and Urban Affairs. It marks a historic moment as NBCC becomes the first Central Public Sector Undertaking (CPSU) to venture into real estate development in Dubai. The company's management has acted proactively, leveraging its strong brand position and competitive pricing to achieve this milestone.
NBCC has a robust track record in the domestic real estate market, particularly in taking over and completing stalled projects. Under the direction of the Hon’ble Supreme Court of India, NBCC has successfully taken over the Amrapali projects, delivering relief to thousands of homebuyers. Out of the mandated 38,000 units, NBCC has completed nearly 30,000 units. Additionally, the company is advancing the development of unused Floor Area Ratio (FAR) from these projects, launching an additional 8,200 units.
Earlier, NBCC successfully completed the India Pavilion at Dubai South for the World Expo 2020, a project valued at around AED 172 million (approximately USD 46.8 million). This project showcased Indian excellence on a global stage and has further strengthened NBCC’s global presence. The company’s move into Dubai opens up new avenues for growth and expansion, solidifying its position as a leading real estate developer both domestically and internationally.
