State-owned NBCC (India) Ltd. has signed an initial agreement with Pantheon Elysee Real Estate Development LLC to develop projects in the UAE. NBCC is into project management consultancy and real estate.
In a statement on Saturday, the company announced that it has signed a broad framework Memorandum of Understanding (MoU) with Pantheon Elysee Real Estate Development LLC, a prominent real estate player based in Dubai, UAE. This partnership solidifies NBCC’s commitment to strengthening its presence in the Middle East construction landscape. The MoU was signed by Pradeep Sharma, ED (Engg), and Ali Abusafieh, Legal Director, Pantheon Elysee Real Estate Development LLC, in the presence of NBCC CMD K. P. Mahadevaswamy.
Under the terms of the MoU, NBCC and Pantheon will collaborate on the execution of high-quality residential, hospitality, and mixed-use real estate projects across the United Arab Emirates.
They intend to develop the projects worth Dh 3 billion, the statement said.
The collaboration will leverage NBCC’s six decades of engineering excellence and project management expertise alongside Pantheon’s robust local development portfolio.
NBCC has completed the India Pavilion in Dubai for the Dubai Expo 2020 at a cost of $46.8 million.
