PBEL Has Invested Rs500 Crore In The Real Estate Sector Across South India

Hyderabad, India (PressExposure) May 11, 2008 -- PBEL has invested Rs500 crore and is actively pursuing more investment opportunities in the real estate sector across south India, to build high quality buildings and modern amenities in environment friendly surroundings.

PBEL PROPERTY Development (India) Pvt Ltd, a joint venture of Israel based Property and Building Corporation (PBC), Electra Real Estate (ERE) and INCOR infrastructure, has invested Rs20 crore in Mysore to build a residential township.

Announcing this development, PBEL, executive director Anand Reddy said, “The Company has invested Rs20 crore on a 10 acre plot of land at Devanoor village along the ring road in Mysore to build a residential township. This is in tune with our strategy to build a land bank in secondary cities across south India. The company, in addition to Mysore, has short-listed Coimbatore in Tamilnadu and Vizag in Andhra Pradesh for sizeable investments.”

PBEL has invested Rs 500 crore so far and is actively pursuing more investment opportunities in the real estate sector across south India. It intends to develop and build high quality high-rise apartment buildings with modern amenities in environment friendly surroundings. PBEL will be bringing internationally known high quality products and consultants from abroad who have worked on renowned projects world wide to ensure that international standards are met. The investment has seen the company acquire 10 acres of residential land in Mysore. This is in addition to 58 acres in two land parcels in Hyderabad and 42 acres in Chennai for a mixed township project.

PBEL Property Development (India) Pvt Ltd is the newest enterprise to enter the real estate business in India. It is a joint venture of Israeli giants PBC, ERE and INCOR Infrastructure. Over the last couple of months PBEL has purchased property worth Rs500 crore across various cities in India.

Presently focusing on Chennai, Hyderabad and Mysore, PBEL will soon be developing these properties into world class living and commercial space...

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Press Release Submitted On: May 09, 2008 at 6:51 am
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