Shaul Lotan (archive photo)
Israeli construction company invests in India realty
Meshulam Levinstein Group opens office in India, plans to invest up to $50 million in various real estate projects
The Tel Aviv-based Meshulam Levinstein Group announced that it has opened an office in India in order to invest in the local real estate market.
The construction company and its partners said they planned to invest up to $50 million in various projects there.
The office is located in the city of Bangalore, the capital of India’s high-tech industry, but officials said the company is looking into several projects throughout the entire country.
Shaul Lotan, president of the Meshulam Levinstein Group, said the company decided to open an office in India after its representatives toured the country and met with local contractors and businessmen.
“We are also looking into the possibility of investing in other countries, such as Vietnam,” he said.
Yaron Gelbhart, who was appointed director of the group’s activity in India, said it was “overflowing with local and foreign money that is being directed toward real estate projects, this after the local market opened its doors to foreign investments in 2005.
“This is where we come in, because we will offer our Indian partners not only financial support but also our knowledge in engineering, which we have accumulated during our residential and high-tech construction projects,” he said.
