Shares of state-owned civil construction giant NBCC (India) Ltd rose by 3.8% after the company announced the incorporation of a wholly owned subsidiary in Dubai Mainland, UAE, aimed at venturing into the real estate sector.
The new entity, NBCC Overseas Real Estate LLC, has been established to undertake real estate operations — specifically buying and selling properties — in Dubai Mainland. The initiative marks a strategic move by NBCC to expand its footprint in global real estate markets.
According to an exchange filing, the Department of Investment and Public Asset Management (DIPAM), through an office memorandum dated February 24, 2025, reaffirmed its earlier approval for setting up the overseas subsidiary. However, the company is still awaiting final clearance under the RBI’s Overseas Direct Investment (ODI) norms.
NBCC stated that the subsidiary’s initial focus will be real estate transactions within Dubai Mainland, aligning with the company’s broader international diversification goals.
About NBCC
NBCC (India) Limited, formerly known as National Buildings Construction Corporation, is a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of Housing and Urban Affairs, Government of India. Incorporated in 1960, NBCC has emerged as one of India’s premier public sector construction companies, with a diversified portfolio across the real estate, infrastructure, and project management consultancy sectors.
