According to the Wall Street Journal, Israeli Conglomerate Elbit Imaging and its subsidiary Plaza Centers NV is set to make fresh investments, worth at least USD 500 million aimed to develop real estate projects in India. They want to build a diversified real estate project in India having residential, office and retail projects within it. The newspaper said that the Elbit India Plaza Management Services is on the verge of signing its first residential, joint development project in Thiruvananthapuram, the capital city of Kerala on an 11 acre piece of land. A Pune based company named Panchshil Realty and a local builder will assist the Israeli firm.
According to many property analysts, after the economic meltdown experienced in 2008-09, the real estate developers are again showing interest in highly developing countries such as India, China and Brazil. During the meltdown period almost all the real estate developers had altered their plans of building projects in these countries. The Israeli firm Elbit had entered the Indian market in 2006 and since then had invested a good amount of sum in the central and southern Indian states. According to the report the firm is developing two new projects in Pune including a shopping mall and some office space and retail center with its partner Panchshil Realty and the approximate investment in the projects in around USD 200 million.
According to many property analysts, after the economic meltdown experienced in 2008-09, the real estate developers are again showing interest in highly developing countries such as India, China and Brazil. During the meltdown period almost all the real estate developers had altered their plans of building projects in these countries. The Israeli firm Elbit had entered the Indian market in 2006 and since then had invested a good amount of sum in the central and southern Indian states. According to the report the firm is developing two new projects in Pune including a shopping mall and some office space and retail center with its partner Panchshil Realty and the approximate investment in the projects in around USD 200 million.
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