NBCC Expands Real Estate Operations to Dubai with Major Land Acquisition

NBCC (India) has taken a significant step in expanding its real estate operations overseas by initiating operations in Dubai. The company has established NBCC Overseas Real Estate LLC, a wholly-owned subsidiary, to spearhead this expansion.

The subsidiary has acquired a land parcel in Dubai Mainland for AED 16 million, inclusive of AED 1 million paid to DLD, broker, and other charges. This acquisition is earmarked for a mixed-use development project. The project boasts a Gross Floor Area (GFA) of 51,718 square feet and is configured with a ground floor, two podium levels, and eight additional floors. The expected revenue from this ambitious project is estimated to be around AED 58-60 million.

In a separate but equally significant move, NBCC has signed a Memorandum of Understanding (MoU) with the Mumbai Port Authority (MbPA). This partnership aims to develop the CGO Complex on approximately 25 acres of land near the Cotton Green Depot at Mumbai Port. Under this collaboration, NBCC will handle project management, redevelopment, and infrastructure execution, while MbPA will facilitate the utilization of port land assets.

This strategic alliance underscores NBCC's commitment to leveraging its expertise in project management and infrastructure development to create value for both public and private stakeholders. The company's foray into Dubai and its partnership with Mumbai Port Authority are expected to bolster its portfolio and enhance its market presence.

NBCC (India) is a leading public sector enterprise known for its robust project execution capabilities and a strong track record in the real estate and infrastructure sectors. The company's expansion into Dubai and its collaboration with Mumbai Port Authority are strategic moves that align with its vision to become a global player in the real estate and infrastructure development industry.

These initiatives are likely to attract significant attention from investors and stakeholders, given the potential for high returns and the strategic importance of the projects. NBCC's entry into the Dubai market and its partnership with Mumbai Port Authority are expected to set new benchmarks in the industry and pave the way for future collaborations and expansions.