NEW DELHI: NBCC (India) has started its overseas real estate operations in Dubai through NBCC Overseas Real Estate LLC (wholly-owned subsidiary).
The subsidiary has purchased a land parcel in Dubai Mainland for AED 16 million, including AED 1 million paid to DLD, broker, and other charges, for a mixed-use development.
The project has GFA of 51,718 sq ft and configuration of G+2P+8 floors with an expected revenue from the project around AED 58-60 million.
In a separate announcement the company informed that it has signed a memorandum of understanding (MoU) with the board of Mumbai Port Authority (MbPA) for development of CGO Complex at Mumbai Port’s land (approximately 25 acres) near Cotton Green Depot.
Under this partnership, NBCC will work on project management, redevelopment and infrastructure execution, while MbPA will facilitate the utilisation of port land assets.
