India The Next Big Thing In Real Estate

India The Next Big Thing In Real Estate

Source: Times of​ India

India is​ being considered as​ “the next big thing” in​ real estate with many Israeli companies lining up for​ major investments there, a​ media report here said.

The latest addition to​ the​ growing list of​ possible investors in​ the​ Indian real estate sector is​ US tycoon Shaya Boymelgreen who recently bought Azorim Investment in​ Israel for​ USD 500 million from IDB Holding Corp Ltd.

He is​ joining hands with Nochi Dankner, a​ prominent Israeli businessman who briefed him over the​ prospects in​ the​ Indian market, busines daily ‘Globes’ reported.

The two entrepreneurs are in​ contact and​ considering a​ number of​ joint investments in​ India, the​ daily said adding that Azorim Investment CEO David Lev is​ due to​ visit India in​ a​ few days in​ this regard.

Meanwhile, Big Shopping Centers (2004) Ltd has already set up an​ Indian subsidiary, Big India, with a​ local partner who owns 40 per cent of​ the​ joint venture, the​ report said.

Big India bought two half-acre plots on which it​ plans to​ build commercial centres at​ an​ investment of​ USD 40 million.

Another company, Elbit Medical Imaging Ltd. chairman Motti Zisser declared early this year that he planned to​ invest in​ India.

The company plans to​ build three commercial centres in​ India, which will become an​ important component of​ the​ company’s real estate assets.

“India now resembles the​ real estate market in​ Eastern Europe ten years ago. Elbit Medical accumulated great experience in​ Eastern Europe, and​ it​ sees India as​ an​ excellent business opportunity,” company sources told the​ business daily.

Alony Hetz Property and​ Investments Ltd. controlling shareholder Natan Hetz also recently announced plans to​ invest USD 100 million with partners in​ Indian ventures.

Gazit-Globe Ltd., controlled by chairman Chaim Katzman, and​ Ocif Investments and​ Development Ltd. controlled by Doron Aviv and​ Dafna Harlev, are also interested in​ investing in​ India, it​ added.

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