NBCC India Expands Globally with Strategic Dubai Real Estate Acquisition

NBCC (India) Limited, a public sector undertaking under the Ministry of Housing and Urban Affairs, has made a significant step into the global real estate market by acquiring a prime land parcel in Dubai for AED 15 million. The property, located in Dubai Mainland, measures 14,776.80 square feet and is intended for mixed-use development.

This marks the first overseas venture of NBCC in the UAE, and it is a strategic move to expand the company's footprint globally. The acquisition is part of NBCC’s broader strategy to push for international growth, making it the first Central Public Sector Undertaking (CPSU) to launch itself as a real estate developer in Dubai.

The project will have a Gross Floor Area of 51,718 sq ft, featuring a ground floor, two floors above, a penthouse, and eight additional floors, often used for parking and amenities. The expected revenue from the project is estimated to be around AED 58-60 million, highlighting the potential for significant returns on this investment.

NBCC Chairman and Managing Director K P Mahadevaswamy described the acquisition as a “significant milestone in the company’s global expansion.” In an interview with Khaleej Times, Mahadevaswamy stated, “We have taken a big step in international real estate by starting our overseas real estate operations in Dubai through NBCC Overseas Real Estate LLC. We are excited about this venture and see strong potential to create quality, affordable housing for the Indian diaspora and other residents in Dubai.”

NBCC has a strong track record of involvement in high-profile projects both in India and overseas. Notably, the company has been responsible for the development of the World Trade Centre in New Delhi and the Bharat Mandapam, a convention and exhibition complex also in New Delhi. These projects showcase the company’s capability and commitment to delivering high-quality infrastructure.

Industry experts are optimistic about the potential this move holds for NBCC. They believe that the UAE investment will not only open up further opportunities in the Emirate but also pave the way for the company to explore other global markets. This initial investment is seen as a strategic foothold that could lead to more significant developments in the future.

As NBCC continues its global expansion, the company is likely to leverage its experience and expertise to deliver projects that meet the needs of the local and international communities. The acquisition in Dubai is a clear indication of NBCC’s ambition to become a leading player in the international real estate market.