Gazit Globe begins operations in Mexico, Brazil and India
Real estate company to venture into developing countries, hopes to enjoy attractive opportunities in emerging markets
The Gazit Globe real estate company plans to change its current business strategy and start investing in developing countries, including Mexico, Brazil and India, the firm's chairman Chaim Katzman said Thursday.
Up until now, the company has only invested in industrialized markets, such as Israel, Europe, the US and Canada.
"Gazit Globe is set to become one of the major beneficiaries of the globalization process, which is picking up speed in the real estate industry as well," Katzman explained. "We will get the more attractive opportunities in the emerging markets, because we are better known, more credible, more experienced and have deeper pockets."
Gazit Globe owns 468 properties across the world, most of which are commercial centers, estimated to worth some $40 billion. Since the beginning of 2007, the company has invested about $70 million in developing its real estate.
