Tag: Dubai

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NBCC Launches Real Estate Operations in Dubai

NEW DELHI: NBCC (India) has launched its international real estate ventures in Dubai through its wholly-owned subsidiary, NBCC Overseas Real Estate LLC. This subsidiary has acquired a land parcel in Dubai Mainland for AED 16 million, which includes AED 1 million for DLD, brokerage, and other associated costs, aimed at a mixed-use development. The development will have a Gross Floor Area (GFA) of 51,718 sq ft, featuring a configuration of G+2P+8 floors, with expected project revenue in the range of AED 58-60 million. Additionally, NBCC announced signing a memorandum of understanding (MoU) with the Mumbai Port Authority (MbPA) for the…

IndustryLatest Stories

Nisus Finance Buys Dubai Motor City Tower for ₹536 Crore

Nisus Finance Services Company (NiFCO), a publicly listed alternative fund manager and urban infrastructure investor, has made its largest investment in the UAE by acquiring the entire residential tower Lootah Avenue in Dubai Motor City for ₹536 crore. This investment includes the acquisition of the property on a 3.34-acre parcel, along with transaction costs and refurbishment expenses. The multi-level building features two basements, a ground floor, 23 residential floors, and a rooftop. It offers a gross floor area of 304,680 sq ft and a net saleable area of 260,000 sq ft. Completed in 2021, Lootah Avenue consists of 273 apartments,…