Foreign investments in Indian real estate
Israeli companies to invest in Indian real estate
Two Israeli companies have joined hands to invest USD 100 million in the booming real estate sector of India.
Israel's Property and Building Corp, a subsidiary of the country's largest holding company IDB Development Corp, and Electra Ltd have announced that they agreed on a joint venture in which both of them will hold 45 percent stakes.
The joint venture includes an unnamed Indian partner which will hold a ten percent stake.
The companies are currently 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.
- The Hindu
|