Israeli firm to invest $180 mn in Ludhiana
An Israeli real estate group will invest $180 million in a construction joint venture in Ludhiana, as part of its expanding operations.
By PTI |
JERUSALEM: An Israeli real estate group will invest $180 million in a construction joint venture in Ludhiana, as part of its expanding operations.
Real estate baron Eliezer Fishman has signed an MoU with an Indian company through a Fishman group subsidiary, Mondon, to invest in the joint venture, a newspaper daily reported.
Fishman will own 50 per cent stake in the 180-square metre under-construction shopping center in Punjab's Ludhiana city, which is expected to yield an annual revenue of $36 million, the report said.
As per the agreement, the Indian partner would pay Fishman either $18 million or 50 per cent of the revenue generated per year, which ever is higher, it said.
Fishman had earlier made a $330 million investment in a project in Thane district of Maharashtra.
Real estate baron Eliezer Fishman has signed an MoU with an Indian company through a Fishman group subsidiary, Mondon, to invest in the joint venture, a newspaper daily reported.
Fishman will own 50 per cent stake in the 180-square metre under-construction shopping center in Punjab's Ludhiana city, which is expected to yield an annual revenue of $36 million, the report said.
As per the agreement, the Indian partner would pay Fishman either $18 million or 50 per cent of the revenue generated per year, which ever is higher, it said.
Fishman had earlier made a $330 million investment in a project in Thane district of Maharashtra.
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