NBCC Ventures into Dubai: A New Chapter in Overseas Real Estate

NBCC (India) Ltd has acquired 15,000 sq ft of land in Dubai for AED 15 million, marking its foray into international real estate. The deal, aimed at expanding NBCC's overseas business, is executed through its subsidiary NBCC Overseas Real Estate LLC, focusing on mixed-use projects in Dubai.

NBCC (India) Ltd, a state-owned enterprise, has purchased approximately 15,000 square feet of land in Dubai for AED 15 million (equivalent to Rs 37 crore), marking a significant step in its global expansion strategy in the real estate sector.

According to a regulatory filing on Wednesday, NBCC has officially entered the international real estate arena with the establishment of NBCC Overseas Real Estate LLC, a wholly-owned subsidiary poised to spearhead its operations in Dubai.

The acquisition, which involves a prime land plot of 14,776.80 square feet in Dubai Mainland, is intended for a mixed-use development. This move places NBCC alongside prominent developers like Sobha Group and recent entrants like Sunteck Realty in Dubai's lucrative property market, which attracts substantial investment from Indian nationals.

(With inputs from agencies.)