NBCC India Expands into Dubai Real Estate Market with New Subsidiary

NBCC (India) Limited has established a wholly-owned subsidiary, NBCC Overseas Real Estate LLC, in Dubai Mainland, UAE, to facilitate real estate transactions in the region.

Nbcc IndiaReal EstateDubaiSubsidiaryDipamReal Estate NewsMay 17, 2025

NBCC India Expands into Dubai Real Estate Market with New Subsidiary

Real Estate News:New Delhi: Shares of Civil Construction PSU Firm, NBCC (India) Ltd, surged by 3.8% following the company's announcement of the formation of a wholly-owned subsidiary in Dubai Mainland, UAE, for real estate purposes.nnNBCC Overseas Real Estate LLC has been incorporated as a Wholly Owned Subsidiary of NBCC (India) Limited in Dubai Mainland, UAE. The primary objective of this new entity is to engage in the buying and selling of real estate in the Dubai Mainland, as confirmed by the company in a filing to the stock exchange.nnThe Department of Investment and Public Asset Management (DIPAM) reasserted its earlier approval for the establishment of this subsidiary through an OM dated 24th February 2025. However, the company is still awaiting approval from the Reserve Bank of India (RBI) for Outward Direct Investment (ODI).nnAccording to the company's official statement, the newly incorporated unit aims to execute real estate business in mainland Dubai, focusing initially on buying and selling properties. This move is expected to diversify NBCC's portfolio and tap into the lucrative Dubai real estate market.nnIn a separate development, NBCC (India) Limited has successfully sold 446 residential units at Aspire Silicon City, PH-IV at Sec-76, Noida, U.P., through an e-auction. The total sale value of these units is approximately Rs. 1,467.93 crores. This achievement underscores the company's strong market presence and its ability to attract significant interest in its residential projects.nnThe stock market responded positively to these developments, with shares of NBCC (India) Ltd rising by 3.86% to Rs 110.84. The stock opened at Rs 107.16 and has shown a 12.64% correction over the past one month. The 52-week high for the stock is at Rs 139.83.nnNBCC (India) Limited, a leading public sector undertaking in civil construction, has been actively expanding its operations and diversifying its business to ensure sustainable growth and profitability. The establishment of the Dubai subsidiary represents a significant step in this direction, positioning the company to capitalize on the dynamic real estate market in the UAE.

Frequently Asked Questions

What is the purpose of the new subsidiary NBCC Overseas Real Estate LLC?

The purpose of NBCC Overseas Real Estate LLC is to engage in the buying and selling of real estate in the Dubai Mainland, UAE.

Has the RBI approved the establishment of the subsidiary?

The RBI approval for Outward Direct Investment (ODI) is still awaited for the establishment of the subsidiary.

What recent achievement has NBCC (India) Ltd accomplished in the real estate sector?

NBCC (India) Ltd has successfully sold 446 residential units at Aspire Silicon City, PH-IV at Sec-76, Noida, U.P., through an e-auction, with a total sale value of approximately Rs. 1,467.93 crores.

How has the stock market responded to the news of the new subsidiary?

Shares of NBCC (India) Ltd surged by 3.86% to Rs 110.84 following the announcement of the new subsidiary.

What is the 52-week high for NBCC (India) Ltd's stock?

The 52-week high for NBCC (India) Ltd's stock is Rs 139.83.

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