NBCC (India) Ltd. and Pantheon Development forge landmark MoU to redefine India–UAE real estate collaboration

07 November 2025, Dubai, UAE: 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. AED 53 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 AED 3 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 AED 3 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.

Notes for Editors About Pantheon Development Pantheon Development is a Dubai-based real estate developer redefining the “affordable luxury” segment through design-led communities such as Pantheon Elysee, Pantheon Voxa, and Pantheon ORC. With over AED 3 billion in upcoming developments across Dubai and Ras Al Khaimah, Pantheon is committed to building high-quality, sustainable, and innovative communities that deliver long-term value.

pantheondevelopment.ae About NBCC (India) Ltd.

Established in 1960, NBCC (India) Ltd. is a Navratna Central Public Sector Enterprise under the Ministry of Housing and Urban Affairs, Government of India, with a project portfolio exceeding INR 1.2 trillion (AED 53 billion). Operating across Project Management Consultancy, Real Estate Development, and EPC contracting, NBCC has executed iconic infrastructure and housing projects across India, the Maldives, Mauritius, and Africa, earning a global reputation for engineering precision and project delivery excellence.

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