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State-owned NBCC has been awarded a contract valued at INR 5,800 crore to develop the Rajasthan Mandapam project in Jaipur by the Rajasthan State Industrial Development & Investment Corporation (RIICO). The project, located near Jaipur International Airport, spans over 90 acres with a built-up area exceeding 94.53 lakh sq ft. Planned as a large mixed-use development, it will include a convention centre, exhibition halls, Global Capability Centres, IT/ITES office spaces, hotels, retail zones, residential units, and public infrastructure such as a museum and riverfront spaces. NBCC will execute the project under a self-financing model and is expected to initiate the tendering process shortly.
NBCC (India) Ltd has secured a contract worth INR 5,800 crore from the Rajasthan State Industrial Development & Investment Corporation (RIICO) to develop the Rajasthan Mandapam and associated infrastructure in Jaipur, with the agreement disclosed in a regulatory filing in the past week. The project is planned as a large-scale mixed-use development and will be executed by NBCC under a self-financing model. Advertisement
The proposed development will be located near Jaipur International Airport and will span more than 90 acres. The total built-up area of the project is estimated to exceed 94.53 lakh sq ft, indicating a high-density, multi-functional urban complex designed to accommodate commercial, institutional, and residential uses.
As part of the mandate, NBCC will undertake the construction of a convention centre and large exhibition halls aimed at hosting business and industry events. The project will also include Global Capability Centres and IT/ITES office spaces, reflecting a focus on attracting corporate occupiers and technology-driven enterprises. In addition, hospitality and retail components are planned, including hotels and commercial spaces to support the broader ecosystem of the development.
The scope further extends to residential housing, suggesting a mixed-use framework that integrates living, working, and commercial functions within a single development. Public and cultural infrastructure will also form part of the project, including a natural history museum, riverfront public spaces, and a unity mall. A fintech plaza is also proposed, indicating a focus on emerging financial technology businesses.
NBCC stated that the project will be implemented through a self-financing model, under which development costs are expected to be recovered through monetisation of project components. This approach is commonly adopted in large urban developments where phased execution and asset sales help fund construction activities.
The company plans to float tenders for various components of the project in April, marking the next stage of execution. The tendering process is expected to cover construction packages and associated infrastructure works required for the development.
NBCC operates primarily in project management consultancy and real estate development and has been involved in executing large government-backed infrastructure and urban redevelopment projects across the country. The Rajasthan Mandapam project adds to its portfolio of mixed-use developments and reflects continued public sector investment in urban infrastructure aimed at supporting economic activity, tourism, and business events.
The scale and mix of the project indicate an integrated approach to urban development, combining commercial, institutional, residential, and public spaces within a single precinct near a key transport hub.
Source - PTI
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