State-owned NBCC (India) Ltd has signed an initial agreement with Pantheon Elysee Real Estate Development LLC to develop projects in the UAE. The partnership aims to leverage NBCC’s six decades of engineering excellence and project management expertise alongside Pantheon’s robust local development portfolio.
The Memorandum of Understanding (MoU) was signed by Pradeep Sharma, Executive Director (Engineering), NBCC, and Ali Abusafieh, Legal Director, Pantheon Elysee Real Estate Development LLC, in the presence of NBCC Chairman and Managing Director 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, worth Dh 3 billion.
“This partnership solidifies NBCC’s commitment to strengthening its presence in the Middle East construction landscape,” the company stated. NBCC has previously completed the India Pavilion in Dubai for the Dubai Expo 2020 at a cost of $46.8 million.
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