Two big construction companies Israeli companies Property and Building Ltd. and Electra Real Estate Ltd. are in a process to buy a 35-acre lot in Hyderabad, India for $23 million. In this joint venture they are planning a massive residential and commercial complex in the area of 28000 Sq.m with estimated budget of $140 millions.
Property and Building and Electra Real Estate each owns 45% of the joint venture, with the remaining 10% is held by their Indian partner. The two Israeli companies will therefore invest $63 million each in the Hyderabad project.
This will be a biggest venture that is having a foreign collaboration and this will certainly boom up the real estate again.