India the next big thing in Real Estate

| Total Words: 308

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...

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