NBCC Expands into Dubai Real Estate Market with Mixed-Use Project
New Delhi: NBCC (India) Limited, a leading real estate developer, has made a significant move by acquiring a prime land parcel in Dubai Mainland for AED 16 million (Rs 38 crore). This acquisition is part of the company's international expansion strategy and is aimed at developing a mixed-use project. The land was purchased through NBCC Overseas Real Estate LLC, a wholly-owned subsidiary, with an additional AED 1 million paid to DLD, the broker, and other charges.
The project spans an area of 51,718 square feet and will feature a configuration of G+2P+8 floors. It is expected to generate revenue of around AED 58-60 million (Rs 150 crore). This development has been approved by the Ministry of Housing and Urban Affairs, aligning with the government's push for global expansion. As a result, NBCC becomes the first Central Public Sector Undertaking (CPSU) to launch itself as a real estate developer in Dubai.
NBCC has a strong track record in the Indian real estate market, particularly in revitalizing stalled projects. The company took over the Amrapali projects under the direction of the Indian government and delivered relief to thousands of homebuyers. Out of the 38,000 units mandated, NBCC has already completed close to 30,000 units. Additionally, the company is advancing the development of unused floor area ratio (FAR) from these projects, planning to launch an additional 8,200 units.
Earlier, NBCC successfully completed the India Pavilion at Dubai South for 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 further strengthened NBCC's international presence. The move into Dubai real estate opens new growth opportunities for NBCC, positioning it as a major player in the global real estate market.
NBCC's expansion into Dubai is a strategic move that leverages the company's expertise in large-scale projects and its commitment to delivering high-quality developments. The mixed-use project in Dubai is expected to be a significant addition to the city's skyline and will contribute to the economic development of the region. With its robust project management capabilities and a proven track record, NBCC is well-positioned to succeed in this new market and continue its global expansion.
