Another Indian contractor sets up shop in the UAE

Another Indian entrant in the UAE’s construction sector: Nisus Finance is expanding intothe UAE through its subsidiary New Consolidated Construction Company Limited (NCCCL), which it acquired last year with the aim of expanding the company across the GCC and India. The UAE operation will serve as a wider GCC hub for construction, infrastructure, and real estate activities, with a phased expansion strategy focused on partnerships and cross-border projects.

NCCCL joins a growing list of Indian developers and contractors deepening their UAE footprints. State-owned NBCC was among the latest entrants, joining firms including Sunteck Realty, Casagrand, Shapoorji Pallonji, and Mantra Properties in expanding into the UAE market.

The pull factor: Construction and transport projects under execution across the GCC are approaching USD 951 bn, while the broader regional pipeline now exceeds USD 2 tn, driven largely by Saudi Arabia and the UAE.

Morocco’s economy is on track to grow by more than 5.3% this year, well above the 4.6% the government had penciled into its 2026 budget and the 4.4% forecast the IMF issued in April, Minister Delegate for the Budget Fouzi Lekjaa tells the Arabic press. The upside is being driven largely by Morocco’s agriculture industry, which accounts for 14% of GDP, as heavy rainfall ended a six-year drought and yielded a more productive than expected grain harvest.

But even as Rabat is looking at strong headline growth, its public finances are being bentout of shape by the Iran war. Oil prices have jumped 46% since the conflict began, while butane and gas prices have also risen 30-50%. Because Morocco imports all of its refined petroleum, costing state coffers around USD 11 bn per year, the government has been forced to spend MAD 3 bn (USD 330 mn) per month in subsidies in a bid to shield citizens from the brunt of the inflation.