NBCC (India) Ltd, a Government of India Navratna enterprise and leading engineering and construction conglomerate has entered into a significant partnership with Pantheon Elysee Real Estate Development LLC, a leading Dubai-based property developer, to expand its footprint in the Middle East.
In a statement issued on Nov 8, NBCC announced that it has signed a broad framework Memorandum of Understanding (MoU) with Pantheon Elysee Real Estate Development LLC to jointly undertake high-value projects across the United Arab Emirates (UAE).
The MoU was signed by Pradeep Sharma, Executive Director (Engineering) at NBCC, and Ali Abusafieh, Legal Director at Pantheon Elysee Real Estate Development LLC, in the presence of K P Mahadevaswamy, Chairman and Managing Director, NBCC.
According to the company, the two entities will collaborate to develop residential, hospitality, and mixed-use real estate projects worth Dh 3 billion (approximately Rs. 6,800 crore). The partnership will combine NBCC’s project management expertise and engineering excellence, built over six decades, with Pantheon’s strong local development experience and market presence in the UAE.
“Through this partnership, NBCC aims to strengthen its presence in the Middle East construction landscape and leverage growth opportunities in one of the world’s most dynamic real estate markets,” the company said in its statement.
This agreement marks another strategic step in NBCC’s efforts to diversify internationally and tap into global infrastructure and housing projects. The company, which operates under the Ministry of Housing and Urban Affairs, has been steadily expanding its international business portfolio, particularly in West Asia and Africa.
NBCC has already established a presence in the region through several landmark projects, including the India Pavilion at Expo 2020 Dubai, which was built at a cost of USD 46.8 million. The project showcased India’s industrial, cultural, and technological achievements on a global platform and has since become a permanent structure at the Dubai Expo site.
With this new collaboration, NBCC plans to position itself as a trusted engineering and construction partner for high-end developments in the UAE. The company will contribute its expertise in project conceptualisation, design management, and execution, while Pantheon Elysee will bring its local market knowledge, land bank, and regulatory experience to the table.
Industry analysts view this development as a strategic expansion move that could help NBCC secure a steady pipeline of international work, complementing its domestic growth. The UAE’s real estate sector has seen renewed activity driven by tourism recovery, foreign investment inflows, and strong demand for luxury housing.
For Pantheon Elysee, which has a growing portfolio of mid-to-high-end residential projects in Dubai, the tie-up with NBCC provides access to Indian engineering capabilities and a public sector partner with a proven track record in executing large-scale, time-bound projects.
The partnership, both firms noted, aligns with their shared goal of delivering sustainable, high-quality urban infrastructure that meets global standards.
As NBCC continues to expand its international operations, this collaboration signals a broader shift in India’s state-owned enterprises actively seeking global partnerships and projects beyond domestic borders.
