State-owned NBCC (India) Limited has signed a Memorandum of Understanding (MoU) with the Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) to develop a Rs 3,700 crore infrastructure project near Jaipur International Airport. The project spans 95 acres and will include the prestigious Rajasthan Mandapam Convention Centre, Unity Mall, and allied commercial and cultural infrastructure.
NBCC has been appointed as the exclusive executing agency responsible for master planning, architectural design, engineering, construction, and international-standard marketing of the development. RIICO will provide an initial interest-free advance of Rs 50 crore, while NBCC will raise the remaining funds through the sale and lease of built-up spaces and planned plots.
The Rajasthan government has committed financial support of up to Rs 635 crore for the Rajasthan Mandapam component, underscoring the project’s priority status. The development is targeted for completion within 30 months upon receiving statutory and internal approvals.
The project aims to position Jaipur as a premier destination for global conventions, business events, and retail innovation, contributing significantly to the region’s economic growth and urban transformation.
