Monday, May 19, 2008

PBEL Property Development invests Rs 180 crores in Chennai to build a residential and commercial township

PBEL Property Development(India) Pvt. Ltd. is the newest enterprise to enter the real estate business in India. It is a joint venture of Israeli giants Property and Building Corporation (PBC), Electra Real Estate (ERE) and Indian developer INCOR Infrastructure. Over the last couple of months PBEL has purchased property worth Rs 500 crore across various cities in India.

Presently focusing on Chennai, Hyderabad and Mysore, PBEL will soon be developing these properties into world class living and commercial space.

PBC is one of the leading real estate companies in Israel established in 1961 and has been a publicly traded company on the Tel Aviv Stock Exchange since 1961. The company is rated AA by Standard & Poor. PBC has extensive experience in developing and constructing residential neighborhoods and commercial properties in Israel and the US. PBC a subsidiary of the IDB Group, is active in the realty space in three continents: North America, Europe and Asia and is Israel's largest business conglomerate with global assets in excess of $27 billion.

Electra Real Estate Ltd. is one of the leading real estate companies in Israel. The company was established in 1994 and has been operating overseas since 1997, and the major growth in the company's activities has taken place over the past three years. Electra Real Estate is a public company listed in the Israeli TASE since 2005.

INCOR is founded by US returned NRI's in response to the need for a Professional Real Estate company, to meet the growing demand of quality housing and commercial space across India. INCOR has projects in hand to construct 1.3 million sq. ft, which includes a residential neighborhood, a shopping mall and an office center. INCOR holds a land bank of 218,592 sqm to be developed for mixed use across various locations in Hyderabad.
PR-inside

2 comments:

  1. Re-development is the new buzzword in the real estate industry of Mumbai with Dharavi, Asia's largest slum, emerging up as a much sought-after location for real estate development. Under the project, slum dwellers will be provided with pakka residential units wherein private developers will also participate through various means.

    The development plan for Dharavi has many amenities in it, viz. wider roads, electricity, ample water supply, playgrounds, schools, colleges, medical centers, socio-cultural centers etc. For proper implementation, Dharavi has been divided into 10 sectors and sectors will be developed by different developers. The total duration of this project is expected to be of 5 to 7 years. Rehabilitation building will be of seven storeys.

    For more details on Mumbai Real Estate, log on to magicbricks.com

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