Israeli Companies Unveil Plans to Invest $100m in Indian Real Estate

December 5, 2006	(Be the first to rate this story!)  Loading ...
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Israel stepped up its efforts to enhance cooperation and bilateral trade with India. Israel Property and Building Cooperation, an Israeli real-estate developer, and Electra Ltd. are afoot to share each other’s platform to pump in as much as $100 million in the booming Indian real estate sector.

These two giant conglomerates have announced to enter into a joint venture in which both of them will hold 45 percent stakes. The remaining 10% will be held by an Indian partner whose name has not yet been disclosed.

At present, the companies are examining investments in Southeast India, including a 42.9 acre site for construction of 260,000 square metres, and a 9.9 acre site for construction of 1,200 housing units, as reported by the company’s source.

News Published Under:   Real Estate India, Real Estate Developers |

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