NBCC (India) Limited, a Navratna enterprise under the Government of India and a leader in engineering and construction, is pleased to announce a landmark Memorandum of Understanding (MoU) with Pantheon Elysee Real Estate Development LLC, a prominent Dubai-based real estate company. This partnership underscores NBCC’s commitment to strengthen its presence in the rapidly growing Middle East construction landscape.
The MoU was signed in the presence of Mr. K.P. Mahadevaswamy, Chairman and Managing Director of NBCC, Mr. Pradeep Sharma, Executive Director (Engineering) at NBCC, and Mr. Ali Abusaifiaeh, Legal Director at Pantheon Elysee. The ceremony was also attended by Mr. Saleem Ahmed, Director (Projects) at NBCC; Dr. Suman Kumar, Director (Commercial) at NBCC; Mr. Anjeev Kumar Jain, Director (Finance) at NBCC; along with other senior officials from both NBCC and Pantheon.
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 in the United Arab Emirates. This collaboration leverages NBCC’s six decades of engineering excellence and project management expertise, along with Pantheon’s robust local development portfolio.
This strategic partnership is expected to yield substantial benefits. By combining NBCC’s proven track record in large-scale infrastructure projects, including the successful construction of the India Pavilion at Dubai Expo 2020 valued at $46.8 million, with Pantheon’s deep market insights and local expertise, the venture aims to deliver state-of-the-art living and commercial spaces designed to meet the discerning standards of modern consumers.
The MoU is a part of NBCC’s broader strategy to expand its global footprint, particularly in markets that offer substantial growth opportunities like the Middle East. The company’s venture into the UAE market is timely, given the region’s current infrastructure boom fueled by upcoming global events and a resurgence in real estate demand post-pandemic.
Through this collaboration, NBCC not only aims to enhance its international portfolio but also to bring innovative construction solutions and sustainable building practices to the Middle East, reinforcing its commitment to contributing to the global infrastructure development sphere. This partnership marks a significant milestone for NBCC as it continues to build on its reputation as a global player in the construction and engineering sector.
