NBCC signs MoU to co-develop real estate projects worth Dh 3 billion in UAE

13 Nov 2025 CW Team

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.

Real Estate

05 Dec 2025

RBI Rate Cut Boosts Confidence Across Housing Market

Industry Context and Market DynamicsThe real estate industry has welcomed the RBI’s rate cut as a timely boost to affordability and demand. With home prices having risen steadily across major markets, even a marginal reduction in interest rates meaningfully strengthens purchasing power, especially for first-time and mid-income buyers.Ashish Jerath, President – Sales & Marketing, Smartworld Developers, observes:“The RBI’s 25-basis-point cut, bringing the repo rate down to 5.25%, is a timely boost for the real estate sector. Lower interest rates reduce borrowing costs, enabling homeb..

BMC Resumes Rs 170 Billion Road Works, Targets 80 per cent By Jan 2026

Following the withdrawal of the southwest monsoon in October, the Brihanmumbai Municipal Corporation (BMC) has restarted work on 645 roads—covering 297.49 kilometres—under its large-scale concretisation programme. Data shows that more than 60 per cent of the resumed works are located in the western suburbs. Officials said the civic body aims to complete concretisation on 80 per cent of the roads where fresh work has begun by January 2026. Launched in 2022, the Rs 170 billion project seeks to concretise 700 kilometres of roads across Mumbai. All civil works were halted during the monsoon ..

India Pushes Digital Shift In Urban Land Mapping

The Department of Land Resources (DoLR) under the Ministry of Rural Development has convened a National Symposium on NAKSHA – the National Geospatial Knowledge-based Land Survey of Urban Habitations – to advance India’s transition to modern, technology-driven land mapping. Speaking at the inaugural session, Secretary Manoj Joshi underscored the urgent need to move revenue departments away from outdated, tape-based methods and rough hand-drawn sketches. He stressed that adopting latitude–longitude-based digital mapping and GIS-linked registration systems is essential for economic stabi..