Israel firm Enters into Indian Real Estate venture

January 15, 2008	(Be the first to rate this story!)  Loading ...
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India seems to be the hottest destination for Israel Real Estate Developers. BSR Engineering and Development Ltd, a firm from Israel ha signed a memorandum of association with Lehman Brothers Real Estate Partners to set up a joint venture to buy land in India for the development of residential and commercial projects. A BSR Engineering subsidiary will build projects with Lehman Brothers financing.

Within three years from the signing of the final documents, the companies will invest $55 million in the joint venture: BSR Engineering will provide 36% of the financing and Lehman Brothers will provide 64%.

The joint venture will set up special project vehicles for each project, and will own at least half of each project’s shares. BSR’s subsidiary will also be allowed to invest independently in each project, to own up to one half of it.

News Published Under:   Real Estate Developers |

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