Lev Leviev
צילום: סיון פרג'
Africa Israel to take part in USD 400 million Russian project
Company and its subsidiary to build 1,000 housing units, 20,000 square meters in office, commercial and housing space in city of Perm with local partner
Africa Israel Investments Ltd. and its subsidiary Danya Cebus are reportedly setting up a company that will take part in a Russian real estate project with a local partner.
Africa Israel and Danya Cebus will control some 50 percent of the project (worth an estimated $400 million), and will invest some $200 million in the establishment of the new company.
During its first phase the project will focus on the planning, establishment and marketing of a project in the Russian city of Perm, which will include the construction of some 1,000 housing units and 20,000 square meters (about 215,000 square feet) in office, commercial and housing space.
In addition, the Russian partner will be obligated to offer the Israeli company other projects in the region while the sides are under contract.
Africa Israel is controlled by Israeli-Russian billionaire Lev Leviev.
