Fishman Holdings' Indian real estate development subsidiary, Mondon Investments Ltd., has bought a 600-acre lot in Jaipur for $108 million, and has an option to buy more land at the same terms. The company plans to build a four million square meter township on the site at an investment of up to $2 billion.
The project will include residences, commercial space, offices, and high-tech space.
Mondon is involved in a number of development projects in India, including residential and commerical projects in New Delhi, Thane, near Mumbai, Hyderabad, and the Punjabi city of Ludhiana.
90% of Monson is held by Fishman Holdings subsidiary Jerusalem Economic Corp. (TASE:ECJM) (JEC), its subsidiary Industrial Buildings Corp. (TASE: IBLD), and its sister company Darban Investments Ltd. (TASE: DRBN). Two months ago, Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) bought Fishman Holdings' direct 10% stake in Mondon.
Eliezer Fishman is the controlling shareholder in “Globes”.
Published by Globes [online], Israel business news - www.globes-online.com - on December 16, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007