NBCC India Expands into Dubai with Wholly-Owned Real Estate Subsidiary
NBCC (India) Limited has established NBCC Overseas Real Estate LLC in Dubai Mainland, UAE, to engage in real estate buying and selling activities. The move marks a significant step in the company's international expansion.
Nbcc IndiaReal EstateDubaiSubsidiaryExpansionReal EstateMay 17, 2025
NBCC Overseas Real Estate LLC has been officially registered as a Wholly Owned Subsidiary of NBCC (India) Limited. The primary objective of this new entity is to engage in the buying and selling of real estate in the Dubai Mainland, as stated in the official exchange filing.
The Department of Investment and Public Asset Management (DIPAM) confirmed its approval for the establishment of this subsidiary through an Office Memorandum dated February 24, 2025. However, the Reserve Bank of India (RBI) Overseas Direct Investment (ODI) approval is still pending. This subsidiary is expected to play a crucial role in NBCC's strategic expansion into international markets.
According 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 seen as a significant step towards diversifying NBCC's portfolio and tapping into the robust real estate market in Dubai.
In a separate development, NBCC (India) Limited has successfully sold 446 residential units at Aspire Silicon City, Phase IV, located in Sector 76, Noida, Uttar Pradesh, through an e-auction. The total sale value of these units is approximately Rs 1,467.93 crores. This achievement highlights the company's strong market presence and its ability to capitalize on high-demand real estate projects.
The stock market has responded positively to these developments. Shares of NBCC (India) Ltd surged by 3.86% to reach Rs 110.84. The stock opened at Rs 107.16 and has shown a correction of 12.64% in the past month. The 52-week high for the stock is Rs 139.83.
NBCC (India) Limited, a Public Sector Undertaking (PSU) under the Ministry of Housing and Urban Affairs, Government of India, is a leading player in the construction and real estate development sector. The company has a rich history of delivering high-quality infrastructure projects and has been actively involved in various national and international ventures.
Frequently Asked Questions
What is the primary objective of NBCC Overseas Real Estate LLC?
The primary objective 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-ODI approval been obtained for the subsidiary?
The RBI-ODI approval for the subsidiary is still pending.
How much did NBCC (India) Ltd's shares surge following the announcement?
NBCC (India) Ltd's shares surged by 3.86% following the announcement.
What is the total sale value of the residential units sold at Aspire Silicon City, PH-IV, Noida?
The total sale value of the residential units sold at Aspire Silicon City, Phase IV, Noida, is approximately Rs 1,467.93 crores.
What is NBCC (India) Limited's status as a PSU?
NBCC (India) Limited is a Public Sector Undertaking (PSU) under the Ministry of Housing and Urban Affairs, Government of India, and is a leading player in the construction and real estate development sector.
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