India government-owned developer makes debut in Dubai market for mid-income buyers

India government-owned developer makes debut in Dubai market for mid-income buyers

Mangalore Today News Network

Dubai, December 25, 2025: NBCC (India) Limited, a major Indian government-owned enterprise under the Ministry of Housing and Urban Affairs (MoHUA), has entered Dubai’s real estate market, marking its first overseas venture as a real estate developer in the emirate.

The company’s wholly owned subsidiary, NBCC Overseas Real Estate LLC, has acquired a prime land parcel in Dubai Mainland for Dh15 million for a mixed-use development.

Pradeep Sharma, Executive Director at NBCC, said the project will have a gross floor area of 51,718 sq ft, with a G+2 podium +8 floors configuration. “It will predominantly be a residential development aimed at the mid-income segment,” Sharma said, adding that the project is being positioned to cater to end-user demand.

In an interview with Khaleej Times, KP Mahadevaswamy, Chairman and Managing Director of NBCC (India) Limited, said the Dubai project marks a significant milestone in the company’s global expansion.

“We have taken a big step in international real estate by starting our overseas real estate operations in Dubai through NBCC Overseas Real Estate LLC,” he said. “We are excited about this venture and see strong potential to create quality, affordable housing for the Indian diaspora and other residents in Dubai.”

Mahadevaswamy said that as a government entity, NBCC’s entry into Dubai real estate was made possible through approvals and support from the Government of India and MoHUA as part of a broader strategic push for global expansion. This makes NBCC the first Central Public Sector Undertaking (CPSU) from India to launch itself as a real estate developer in Dubai.

“NBCC’s management acted proactively, leveraging the company’s strong brand credibility and disciplined pricing approach. This move marks a key milestone in our growth journey,” he said.

NBCC has been involved in several high-profile projects in India and overseas. Mahadevaswamy highlighted the company’s recent completion of major projects, including the World Trade Centre in New Delhi, valued at around Dh1 billion, and Bharat Mandapam, the convention and exhibition complex in New Delhi, valued at about Dh1.2 billion.

The company gained prominence in India’s domestic real estate sector after being directed by the Supreme Court of India to take over and complete stalled Amrapali Group housing projects in Noida, bringing relief to thousands of homebuyers.

NBCC had earlier executed the India Pavilion at Dubai South for Expo 2020, a project valued at around Dh172 million, showcasing Indian design and execution capabilities on a global platform.

NBCC said the land acquisition followed a structured and transparent process, involving public invitations, internal evaluations, independent feasibility studies and multiple rounds of senior-level review under its public-sector governance framework.

Industry observers said NBCC’s entry adds a new dimension to Dubai’s property market, particularly in the mid-income residential segment, while strengthening the company’s global footprint and opening new growth opportunities outside India.

Courtesy: Khaleej Times