NBCC Signs MoU for Rs 37 Billion Project Near Jaipur Airport

15 Sep 2025 CW Team

The collaboration covers the development of the Rajasthan Mandapam Convention Centre, Unity Mall, and allied commercial and cultural infrastructure on a 95-acre site along Tonk Road. The initiative aims to position Jaipur as a premier destination for global conventions and retail activity, combining world-class design with the city’s rich cultural heritage.

The MoU signing ceremony was attended by Rajasthan Chief Minister Bhajan Lal Sharma, Industry Minister Col. Rajyavardhan Singh Rathore, Chief Secretary Sudhansh Pant, Additional Chief Secretary to the CM and RIICO Chairman Shikhar Agrawal, NBCC Chairman and Managing Director K.P. Mahadevaswamy, and other senior officials.

NBCC, as the exclusive executing agency, will manage master planning, architectural design, engineering, construction, and international-standard marketing. The project will operate on a self-financing model, with RIICO providing an initial interest-free advance of Rs 500 million. Further mobilisation will come from the sale and lease of developed spaces and plots, with NBCC able to leverage public financial institutions to ensure smooth funding.

Government financial support of up to Rs 6.35 billion has been earmarked for the Rajasthan Mandapam, highlighting the strategic importance of the project. A joint empowered committee will oversee progress and quality, aiming for completion within 30 months of receiving statutory and internal approvals.

NBCC stated that the development reflects a strong partnership between the Government of India and the Government of Rajasthan, contributing to economic growth, cultural promotion, and employment generation in the region. Shares of NBCC closed 2.49 per cent higher at Rs 108.15 on the NSE on Thursday, ahead of the announcement.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

State-owned NBCC (India) Ltd announced on Thursday that it has signed a Memorandum of Understanding (MoU) with Rajasthan State Industrial Development and Investment Corporation (RIICO) for infrastructure projects worth around Rs 37 billion near Jaipur International Airport.The collaboration covers the development of the Rajasthan Mandapam Convention Centre, Unity Mall, and allied commercial and cultural infrastructure on a 95-acre site along Tonk Road. The initiative aims to position Jaipur as a premier destination for global conventions and retail activity, combining world-class design with the city’s rich cultural heritage.The MoU signing ceremony was attended by Rajasthan Chief Minister Bhajan Lal Sharma, Industry Minister Col. Rajyavardhan Singh Rathore, Chief Secretary Sudhansh Pant, Additional Chief Secretary to the CM and RIICO Chairman Shikhar Agrawal, NBCC Chairman and Managing Director K.P. Mahadevaswamy, and other senior officials.NBCC, as the exclusive executing agency, will manage master planning, architectural design, engineering, construction, and international-standard marketing. The project will operate on a self-financing model, with RIICO providing an initial interest-free advance of Rs 500 million. Further mobilisation will come from the sale and lease of developed spaces and plots, with NBCC able to leverage public financial institutions to ensure smooth funding.Government financial support of up to Rs 6.35 billion has been earmarked for the Rajasthan Mandapam, highlighting the strategic importance of the project. A joint empowered committee will oversee progress and quality, aiming for completion within 30 months of receiving statutory and internal approvals.NBCC stated that the development reflects a strong partnership between the Government of India and the Government of Rajasthan, contributing to economic growth, cultural promotion, and employment generation in the region. Shares of NBCC closed 2.49 per cent higher at Rs 108.15 on the NSE on Thursday, ahead of the announcement.

Infrastructure Transport

10 Jul 2026

Uttar Pradesh unveils infrastructure-led growth roadmap at RAHSTA

Mumbai, 9 July 2026: Uttar Pradesh’s ambitious infrastructure-led growth strategy took centre stage on Day 2 of the 16th RAHSTA Expo, where senior government officials outlined how expressways, industrial corridors and technology-driven governance are transforming the state into one of India's most attractive investment destinations.Delivering the keynote address, Srihari Pratap Shahi, IAS, Additional Chief Executive Officer, Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), highlighted the state's long-term vision of integrating world-class expressways with industrial dev..

Real Estate

10 Jul 2026

NCW closes PRIME Offices Fund at Rs 40 billion

Nuvama and Cushman & Wakefield Management (NCW) has announced the final close of its flagship PRIME Offices Fund at approximately Rs 40 billion, exceeding its original target of Rs 30 billion following strong investor demand.The fund was launched to provide Indian investors with access to institutional-grade commercial office assets across key office markets in the country. According to NCW, the increase in the fund size was supported by strong investor participation and the availability of investment opportunities in India's office sector.The fund has already committed around 45 per cent ..

Real Estate

10 Jul 2026

Mayfair Housing adopts Autodesk Forma for digital project planning

Mayfair Housing has entered into a three-year strategic partnership with Autodesk to deploy Autodesk Forma, an AI-enabled cloud platform, as part of its digital transformation programme aimed at improving project planning and execution across its development and redevelopment portfolio.The platform will be integrated into the company's Building Information Modelling (BIM) workflow to support architects, planners and project teams during the early stages of design and development. Autodesk Forma combines real-world data, environmental simulations and collaborative workflows to facilitate data-d..