State-owned NBCC (India) Ltd has signed a broad framework Memorandum of Understanding (MoU) with Pantheon Elysee Real Estate Development LLC, a Dubai-based real estate developer, to jointly undertake a series of projects in the United Arab Emirates.

In its statement, NBCC said the partnership reinforces its commitment to expanding its footprint in the Middle East construction market. The MoU was signed by Pradeep Sharma, ED (Engg), NBCC, and Ali Abusafieh, Legal Director, Pantheon Elysee, in the presence of K P Mahadevaswamy, CMD, NBCC.

Project Scope

Under the agreement, NBCC and Pantheon Elysee will collaborate on the execution of high-quality residential, hospitality and mixed-use developments across the UAE. The partners intend to jointly develop projects worth Dh 3 billion, leveraging NBCC’s six decades of engineering and project management expertise along with Pantheon’s strong local development capabilities.

NBCC’s Presence in the UAE

NBCC has been actively expanding in the region and previously executed the India Pavilion for Dubai Expo 2020, completed at a cost of USD 46.8 million.

The new collaboration is expected to further strengthen NBCC’s overseas portfolio and enhance its presence in the Gulf real estate landscape.