NBCC buys Rs 37 crore land in Dubai 'urban development'

State-owned NBCC (India) Ltd has bought nearly 15,000 sq ft of land in Dubai for AED 15 million (Rs 37 crore) to develop a mixed-use project, as part of its plan to expand the real estate business overseas.

In a regulatory filing on Wednesday, the company said that it has taken a step in the international



market by starting its overseas real estate operations in Dubai through NBCC Overseas Real Estate LLC, a wholly-owned subsidiary.

“The NBCC Overseas Real Estate LLC bought a prime land parcel of area 14,776.80 sq feet worth AED 15 million in Dubai Mainland for mixed-use development,” the company said.