UAE-based Pantheon Development has signed a partnership agreement (MoU) with NBCC (India) Limited, a Navratna undertaking of the Government of India.
Under this partnership, both the companies will work together on high-quality residential, hospitality and mixed-use projects in the UAE.
This agreement reflects the growing role of Indian government companies in the UAE, especially at a time when investment and infrastructure partnerships between India and the Gulf countries are growing rapidly.
🏗️ NBCC will take technical leadership with experience of 50 billion dirhams
NBCC, India’s leading government infrastructure company, has a portfolio of projects worth more than 50 billion dirhams (approximately ₹1.13 lakh crore).
The company will provide expertise in this joint initiative with its over 60 years of engineering and manufacturing experience.
NBCC has successfully completed high-profile projects in India such as Central Vista, New Parliament House, Delhi Development Projects, and foreign embassy buildings.
🏙️ 3 billion dirham expansion plan in Dubai and Ras Al Khaimah
Kalpesh Kinariwala, founder of Pantheon Development, said the partnership will accelerate his company’s 3 billion dirham (about ₹6,800 crore) expansion mission.
He said –
“We are proud to be associated with a global and government-owned company like NBCC. This partnership is a big step towards sustainable growth based on trust, integrity and purpose.”
Kinariwala said that the new design-based communities to be built in Dubai and Ras Al Khaimah will be developed on the principles of sustainability, green construction and engineering excellence.
🏛️ Agreement signing and leadership presence
This agreement was signed by K.P., Chairman and Managing Director of NBCC (India) Limited. It was signed in the presence of Mahadevaswami and senior officials of both the organizations. During the ceremony, both sides described it as a new direction for India-UAE economic cooperation.