Gaziz Globe And Big Shopping Group From Israel To Invest In India

The Indian real estate market is set to witness the entry of investors like Gaziz Globe and Big Shopping Group from Israel, Mirax from Russia and a few others from Eastern and Western Europe. Together, these investors are likely to invest around Rs 10,000 crore in Indian property that is FDI compliant, in the coming months, through the PE route.
The move is expected to bring relief to developers who are increasingly finding it difficult to mobilize funds from banks. Jones Lang LaSalle Meghraj (JLLM) is currently working on these transactions. It is understood that a number of funds from Israel have bought large tracts of land in Goa and are scouting for more land and property elsewhere.
According to Anuj Puri, chairman & country head, JLLM, “Currently, there are liquidity issues in Indian real estate market. Hence, funds from Israel and Russia will bring relief to Indian developers. Since PE players are investing in Indian properties that are FDI compliant, the funds will be invested in the ongoing construction of properties over 50,000 sq m in size. They cannot invest in ready property.”
While Gaziz Globe is investing in various retail projects, Big Shopping Group is investing in new retail projects in Pune and Mumbai.
Meanwhile, Mirax, Russia, is evaluating the feasibility of investing in developments in Mumbai. Kardan Group, Israel, is also investing in an SEZ in Pune.

This entry was written by admin, posted on July 21, 2008 at 4:52 am, filed under Real Estate News and tagged , , , , , , , , , , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post. Trackbacks are closed, but you can post a comment.

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