NBCC (India) Limited has expanded its international real estate operations by acquiring a prime land parcel in Dubai through its subsidiary, NBCC Overseas Real Estate LLC. The land, measuring 14,776.80 sq ft, was purchased for AED 15 million and will be used for mixed-use development. This move marks a significant step in NBCC’s strategy to grow its overseas presence.
Dubai Land Acquisition
NBCC (India) Limited has undertaken a strategic initiative to broaden its international real estate portfolio by initiating operations in Dubai. This has been accomplished through NBCC Overseas Real Estate LLC, a wholly owned subsidiary.
Land Parcel Details
The subsidiary, NBCC Overseas Real Estate LLC, successfully acquired a prime land parcel spanning 14,776.80 sq ft. The acquisition cost amounted to AED 15 million. The land is intended for mixed-use development projects within Dubai Mainland.
Strategic Significance
This acquisition signifies a key step in NBCC’s broader strategy to expand its footprint in international real estate markets. The mixed-use development planned for the acquired land is expected to contribute positively to NBCC’s growth and revenue streams.
Source: BSE
