Industrial Buildings Corporation, which is 72% owned by Jerusalem Economy (JEC), controlled by Eliezer Fishman, is to build the tallest building in Thailand, foreign news agencies report. Industrial Buildings will pay $29 million (953 millions baht) for 50.1% of the land in Thai capital Bangkok.
The 77 storey building will rise to 310 meters high. The investment in it will be $410 million. The project will be carried out by three local developers, and is due to be completed by 2012.
The project will have 12,300 meters of space in two buildings, and will include luxury residential apartments, amounting to 55% of the project, a 150-room hotel (20%) and a commercial center (25%).
Industrial Buildings CEO Dalit Braun said that this was the company's largest investment in Asia.
Eliezer Fishman is the controlling shareholder in "Globes".
Published by Globes [online], Israel business news - www.globes.co.il - on July 23, 2009
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