India’s NBCC (India) Ltd., a Government of India Navratna enterprise with a project portfolio exceeding AED53 billion, has signed a Memorandum of Understanding with Pantheon Elysee Real Estate Development LLC to co-develop residential, hospitality, and community projects across the UAE.
The agreement was announced on 7 November 2025 in Dubai.
Under the partnership, Pantheon Development will lead project ideation, financing and market development while NBCC will provide engineering, procurement and construction expertise.
The collaboration aims to combine NBCC’s six-decade experience in large-scale infrastructure delivery with Pantheon’s design-led approach to affordable luxury projects across Dubai and Ras Al Khaimah.
Shri K. P. Mahadevaswamy, Chairman and Managing Director of 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.”
Kalpesh Kinariwala, Founder of Pantheon Development, said: “Partnering with a global powerhouse like NBCC aligns with our mission to scale Pantheon’s AED3 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 companies said the partnership is intended to fast-track sustainable, community-centric developments and strengthen bilateral cooperation between India and the UAE in real estate and infrastructure.
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