India’s NBCC and Pantheon Development join forces for Dhs3 billion UAE real estate push
- Last updated: November 7, 2025 | 16:59
Gulf Network
In a landmark move to strengthen India–UAE economic ties, NBCC (India) Ltd., a Government of India Navratna enterprise with a project portfolio exceeding INR 1.2 trillion (approx. Dhs53 billion), has signed a Memorandum of Understanding (MoU) with Pantheon Elysee Real Estate Development LLC (“Pantheon Development”), one of the UAE’s fastest-growing developers with Dhs3 billion worth of upcoming residential and mixed-use projects across Dubai and Ras Al Khaimah.
The MoU marks a strategic alignment between NBCC’s six-decade legacy in large-scale EPC and infrastructure delivery and Pantheon’s innovative approach to affordable luxury living.
Under the partnership, Pantheon will lead project ideation, financing, and market development, while NBCC will leverage its global engineering, procurement, and construction expertise to ensure precision, sustainability, and on-time delivery. Together, the two organizations will explore opportunities to co-develop major residential, hospitality, and community projects across the Emirates.
Shri K. P. Mahadevaswamy, Chairman and Managing Director, NBCC (India) Ltd., said:
“This collaboration with Pantheon Developments reinforces NBCC’s global growth trajectory. Our track record of completing landmark projects in India and abroad positions us perfectly to bring Indian engineering excellence to the UAE’s dynamic real estate landscape.”
Mr. Kalpesh Kinariwala, Founder of Pantheon Development, added:
“Partnering with a global powerhouse like NBCC aligns with our mission to scale Pantheon’s Dhs3 billion pipeline of projects across Dubai and Ras Al Khaimah. This partnership is about more than construction — it’s about blending world-class engineering with our design-led approach to deliver affordable luxury that endures.”
The partnership aims to fast-track the delivery of sustainable, community-centric developments and strengthen bilateral cooperation between India and the UAE in the real estate and infrastructure sectors.